Pebble is laying off 40 employees, or about 25 percent of its staff. In a conversation with Tech Insider revealing the layoffs, Pebble CEO Eric Migicovsky suggested the cuts were necessary because of a lack of funds. "Money is pretty tight these days," he says.
Pebble is now in a very crowded market
Venture capital firms are in a slowdown right now, but Pebble has managed to raise some money. Tech Insider says that it raised $26 million over the last eight months. And while we don't know specific sales figures for most of the year, we know that Pebble sold $20 million worth of smartwatches during a Kickstarter campaign at the beginning of 2015.
Still, there's a clear suggestion that Pebble's business is not in perfect shape....
via The Verge
