Pebble Apparently Can't Keep Up With its Own Growth

By Bryan Lufkin on at

Technology is filled with all kinds of rumors, real and fabricated. It gives us a look at what might be and will be. BitStream gathers the whispers all in one place to divine what the future has in store.

The crowdfunded watch, Pebble, which became a darling of Kickstarter success stories, may be facing serious financial problems, despite raising a staggering $20 million on the site. Sources say that the company is getting a bit too big and can’t support the success. It has supposedly took out a $5 million loan with an additional $5 million of credit.

Right now, Pebble has 150 employees and is still growing, and its newest smartwatch sports a colour screen and 7-day battery life. This new wearable is by far the top-funded project in the site’s history. But now the company is turning to VC money to keep up with its own monster growth, according to rumours. [TechCrunch]

Apple expansion: The tech giant is apparently thinking of expanding to San Jose, California. Apple’s headquartered a bit to the south in Cupertino, but San Jose is the largest city in Silicon Valley. [Silicon Valley Business Journal]

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Image credit: Kickstarter