Fitbit to Acquire Pebble Smartwatch Company
Posted on December 1, 2016
Fitbit is reportedly close to acquiring the smartwatch company Pebble. Pebble is one of the earliest smartwatch developers. It became popular through a Kickstarter launch. TechCrunch reports that Pebble and its products would be closed down over time if rumors about the deal are accurate.
Fitbit and Pebble recently started to overlap in products. Fitbit initially focused on activity trackers and Pebble focused on smartwatches. However, Fitbit now has the Fitbit Blaze fitness smartwatch (top left) on the market and Pebble's recent Pebble 2 + Heart Rate watch competes with Fitbit in the activity tracker area. TechCrunch's story says Pebble has been struggling and cut 25% of its staff in March.
Fitbit's activity trackers were one of the most heavily promoted items by major retailers over Black Friday. It was easy to find the Fitbit Alta and Fitbit Charge on sale and they likely sold many devices. This is a sign that Fitbit has a strong brand.
CNET says Fitbit paid $23 million for Pebble.