According to a report from The Information, fitness band market leader Fitbit is close to finalizing a deal to purchase smartwatch maker (and Kickstarter success story) Pebble. The startup was said to be facing financial challenges and looking to sell. Fitbit is reportedly looking to pick up Pebble’s intellectual property and software, and is expected to shutter the brand and its products over time. While a dollar amount for the deal has not been revealed, some place the purchase price in the $34-40 million range. “Watch maker Citizen was interested in purchasing Pebble for $740 million in 2015,” reports TechCrunch. “This deal failed and before the launch of the Pebble 2 Intel made an offer for $70 million.” Continue reading Fitbit Close to Acquiring Struggling Smartwatch Maker Pebble

Research out of the University of Pennsylvania’s Wharton School, led by Professor Ethan Mollick, revealed that, since its 2009 founding, Kickstarter has been used to raise $5.3 billion, leading to the creation of 8,800 new companies and non-profit organizations and generating 29,600 full-time and 283,000 part-time jobs. The study, funded in part by the Kauffman Foundation, relied on data from Kickstarter and only looked at successfully funded projects. Kickstarter had no involvement in the study. Continue reading Study Examines the Significant Impact of Kickstarter Projects