Pebble is one of the most popular smartwatches ever released and was one of the most popular available on the market, but the launch Apple Watch radically changed this. According to recent information, it seems that Pebble has quite serious financial problems and despite the fact that it managed to collect 20 million dollars in donations for the launch of Pebble Time, now the company behind the product is looking to borrow money from American banks.
According to the information that appeared today, Pebble is looking to borrow 5 million dollars and obtain a credit line of another 5 million dollars, so in total it would be 10 million dollars that the company needs now. Although Pebble remains a strong brand, American banks have refused to give Pebble the financial help they need to stay strong in the market.
Smartwatch maker Pebble seems to be in some trouble. According to sources close to the company, the company is having trouble maintaining its growth and has turned to a Silicon Valley bank for a $5 million loan and $5 million line of credit. Valley VCs have been turning down the company's requests for new capital.
The Pebble company has no less than 150 employees at the moment and It seems that it does not manage to maintain its activity undisturbed even though it collected 18 million from the 20 collected through the donation campaign in March. The even bigger problem is that the information regarding the financial difficulties will scare potential investors, especially since the appearance of the Apple Watch has attracted a lot of interest from Pebble.
Unfortunately, the Pebble employees are also not so happy with the direction the company is heading at the moment, so it will be interesting how Pebble will stand up to the competition made by Apple. To be honest, Pebble is one of the most important companies in the smartwatch market and I don't think it will disappear anytime soon, regardless of the rumors.
