Who owns pebble watch

As recently as a week before discussions with Fitbit began, Pebble employees were visiting their manufacturing partners in Asia and finalizing production plans for the new devices, sources say. In a recent interview with Steven Levy of Backchannel , Migicovsky said he spent the summer months scrambling across the globe, trying unsuccessfully to raise money from private equity funds and other private investing groups.

Pebble was out of time and out of money. In October, at least one bank that gave money to Pebble called in its loan, unconvinced Pebble would be able to raise more funding or sell enough product to solve its cash flow issues and debt to suppliers. Once Migicovsky decided to sell the company, sources close to him say that his main goal was to find a b uyer that would honor the consumers on Kickstarter who backed the Pebble Time 2 or Core — either by refunding their money or building the product.

Fitbit turned out to be the only suitable buyer willing to do that. While the Time 2 and Core products have been canceled, Kickstarter backers will at least get their money back. The original deal discussions had Fitbit, which makes wearable products focused on health and fitness, acquiring all or most of Pebble, including the staff, several sources told Business Insider.

But something changed as the deal was negotiated and Fitbit ended up buying only the software technology that runs Pebble's products and hiring certain employees. During the interviews, Fitbit quizzed Pebble employees on their roles at the company, but in the end Pebble employees learned there was no interest in the hardware team.

Fitbit didn't even ask for resumes, according to one source, instead just pulling in their LinkedIn profiles. Once it became clear these interviews were going nowhere, Pebble hardware employees were encouraged to apply to open positions on Fitbit's website.

By the time it was all over, most Pebble employees were sent home with severance packages. Many others took the Fitbit offer, and several former Pebble employees now list Fitbit as their employer on LinkedIn. As for Migicovsky, he'll be working at the startup incubator Y Combinator next year. Pebble's software may live on within Fitbit products, but it's now up to other companies to prove whether Pebble's pioneering product represents the future of computing or just an interesting footnote in history.

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But what happens to those who have Pebble watches, or those who just ordered these from Pebble. First the company is no longer accepting orders from its website pebble. This includes Pebble 2 pre-orders which have not been charged or shipped by the company. However, the company will allow for returns, refunds of orders that were completed before December 7, Also those who bought the watches at retail can return, exchange them depending on the retailer policy, and accessories like charging cables, bands, etc will be available on Amazon.

For current users, there is more bad news.