Ever since the Pebble watch became an cause célèbre in tech circles for its kickass Kickstarter moves (it’s raised almost $7mm dollars and counting), something’s been nagging me about the company and its product.
It’s now Valley legend that the company had to turn to Kickstarter to get its working capital – more than 46,000 folks have backed Pebble, and will soon be proudly sporting their spiffy new iPhone-powered watches as a result. Clearly Pebble has won – both financially, as well as in the court of public opinion. I spoke to one early investor (through Y-Combinator) who had nothing but good things to say about the company and its founders.
But why, I wondered, were mainstream VCs not backing Pebble once it became clear the company was on a path to success?
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