In a long article on MediumPebble founder Eric Migicovsky shared how they succeeded in inventing the smartwatch and a whole new product category, but failed to create a sustainable and profitable business.
Migicovsky recalls how he started Pebble with friends at the University of Waterloo in 2008. “We were the first company to work on smartwatches,” he writes.
Pebble defined what a smartwatch was supposed to do, i.e. vibrate and display incoming calls and messages, control music without taking your phone out, track your exercise and sleep, and be customizable by downloading fun dials.
“The product itself is amazing, people are still using it to this day. Personally, I still use my Pebble 2 HR every day,” notes Migicovsky. to create a sustainable and profitable business. We sold part of our business to Fitbit at the end of 2016.”
Looking back, I shouldn’t have grown the business aggressively without a more solid plan. We should have stuck with what we knew best and continued to create quirky and fun smartwatches for hackers. Pebble, the product, was and still is awesome. Even though we released it 5 years ago, the Pebble 2 HR on my wrist (powered by Rebble.io) still does everything I want it to do 🙂
You can read the full post with more details on the source page here.