Pebble says ‘money is pretty tight,’ as it lays off 25 percent of its employees

pebble layoffs 25 percent staff amzndls pebblewatch
Pebble is credited for largely kickstarting (pun intended) the modern smartwatch craze, and the company is one of the biggest success stories of the wearable tech world. It started out as a wildly successful Kickstarter campaign back in 2012, and Pebble has since released a series of geeky devices, including the Pebble Time and Time Round.

Not only that, but the company also raised a whopping $26 million in the past eight months, on top of the $20 million that came from another successful Kickstarter campaign in February 2015. Given how much money Pebble has raised, it’s interesting to hear that the company is laying off 40 of its employees — or around 25 percent of its humble workforce.

According to CEO Eric Migicovsky, the layoffs are largely because of the difficult funding environment in the tech world these days.

“We got this money, but money [among VCs in Silicon Valley] is pretty tight these days,” he said in an interview with Tech Insider.

In the future, Migicovsky says that the company will be focusing on developing the health and fitness features in its smart devices, largely because fitness tracking is the feature users are most interested in. The company is also set to start selling its products in India through Amazon next month.

The wearable market in general seems to be skating on thin ice. As Tech Insider notes, Fitbit’s stock has taken a dive over the past few months, and the price of the Apple Watch recently went down from by $50 to $300, which suggests that perhaps the device isn’t selling as well as Apple might have wanted.

Still, Pebble fans shouldn’t be too scared of the company fading away, according to Migicovsky. He says that Pebble has a plan for the next five to 10 years at least.

While many suggest that the smartwatch is still the next big thing in tech, we really have yet to see a game-changing device. It will be interesting to see if Pebble can come up with a device that reanimates the smartwatch.

Updated on 03-24-2016 by Christian de Looper: Clarified in quote that money was tight among venture capitalists.

Emerging Tech

Awesome Tech You Can’t Buy Yet: Grow veggies indoors and shower more efficiently

Check out our roundup of the best new crowdfunding projects and product announcements that hit the web this week. You may not be able to buy this stuff yet, but it sure is fun to gawk!
Home Theater

Accidentally aired Samsung ad shows Galaxy S10, Galaxy Buds a day before launch

One day before the launch event that is widely expected to contain both the new Galaxy S10 smartphone and the Galaxy Buds fully wireless earbuds, an accidentally aired Samsung TV ad from Norway confirms both products.
Wearables

Galaxy Watch Active isn't official yet, but you can see it in Samsung's own app

Samsung may be about to resurrect its Sport line of smartwatches under a new name: The Galaxy Watch Sport Active. Leaks and rumors are building our picture of the device at the moment.
Deals

Make some time for the best smartwatch deals for February 2019

Smartwatches make your life easier by sending alerts right on your wrist. Many also provide fitness-tracking features. So if you're ready to take the plunge into wearables and want to save money, read on for the best smartwatch deals.
Wearables

The Google Pixel Watch could finally launch sometime this year

From its Pixel smartphones to Google Home, the Google brand is quickly becoming synonymous with high-quality consumer hardware. Eventually, according to rumors, Google may branch out a little further by creating its first smartwatch.
Wearables

Sony’s weird Wena isn’t a smartwatch, it’s a smart watch strap

Sony's Wena smart watch straps have been around since 2015; but the company has now decided to launch them outside of Japan, starting with the U.K.. The straps convert traditional watch straps into smart watches.
Wearables

To be blunt, the Vuzix Blade smartglasses just don’t cut it

We tried out the Vuzix Blade to find out if it’s worth shelling out $1,000 for smartglasses. Are these augmented reality, Android-powered glasses really ready for primetime or just an expensive gimmick that no one really needs?
Mobile

Smartwatch sales soared in 2018, with Apple leading the charge

The NPD Group, a market research organization, has reported smartwatch sales soared in 2018. Apple is leading the charge, but it's clear there's still room in the market for competitors, as Samsung and Fitbit also did well.
Mobile

North Focals smartglasses discount cuts the price by a massive $400

Canadian startup North is hoping smartglasses will be the next big wearable. After announcing its new Focals smartglasses in late 2018, the company opened product showrooms in Brooklyn and Toronto and has made its first shipment.
Wearables

Focals succeed where Google Glass fumbled (but do we really need smartglasses?)

It’s been seven years since Google took the wraps off Google Glass. Now, we’re finally getting a modern-day equivalent we want to wear. North’s Focals combine subtle style with an intuitive interface to craft smartglasses you’ll…
Mobile

These 13 gadgets walk a fine line between ingenious and insane

The annual avalanche of devices and gadgets is astounding, but how many will succeed? A few are destined to spark new trends, while the majority fade deservedly into obscurity. We look at some gadgets on the border of brilliant and bonkers.
Deals

Amazon slashes prices on Fitbit Versa smartwatches for Presidents’ Day

Amazon is offering a solid $30 discount on this great fitness tracking smartwatch right now. So if you're looking for a wearable that can help you track steps, sleep, and activity, now is a great time to pick one up for less.
Deals

This discounted smartwatch is a cheap Apple Watch or Fitbit Versa alternative

The Amazfit Bip isn't an Apple Watch or Fitbit Versa, but at the discounted price of $67, it's a very affordable alternative packed with useful features. With built-in GPS and 30-day battery life, this cheap smartwatch is a great option to…
Deals

Amazon cuts prices on the Apple Watch Series 3 for Presidents’ Day

The Apple Watch Series 3 is seeing the same price cut we saw during the Amazon sale just last week. So if you're hoping to pick up an Apple Watch for less than $250, this $50 discount from Amazon can make that happen for you.