Pebble make smartwatches. Fitbit track your food intake and exercise. This is, on the face of it, a match made in Fitness Heaven.
However Pebble was initially on the market for US$200m but the current price is a snippet at a lean US$40m which barely covers their debts. This is unfortunate for the darling of kickstarter - Pebble raised US$10m in 2012 despite only pitching for US$100,000. Since then it has had to turn to debt funding and loans to stay afloat and haslet go of 40 employees.
Timing is everything. Planning for a sale is equally as crucial, working through your valuations and understanding the process before the value of your business wanes is key.
I'm happy to speak to business owners looking to sell (or buy), to help you understand the process to help you get the best possible deal.
Fitness band maker Fitbit is said to be in the process of acquiring Pebble, the company that kickstarted the smartwatch generation. Sources say the acquisition will cost between $35 million and $40 million, and will include the entire Pebble portfolio — including its intellectual property.