Pebble Time isn’t just one of the fastest-moving Kickstarter projects — it’s now one of the biggest, too.
The color smartwatch took a mere two days to get more funding than its predecessor, hitting the $10.3 million mark with 29 days left to go. It’s “only” the second highest-grossing Kickstarter effort to date (the leader remains the Coolest cooler), but it may not have much trouble taking the top spot.
The company’s crowdfunding performance isn’t quite as impressive as it sounds, mind you. Pebble had already sold 1 million smartwatches by the end of 2014, so it only needed to attract a small fraction of existing owners to blow past its original Kickstarter run.
Pebble is using the campaign more for publicity than to get a project off the ground, like you’d expect with most crowdfunding efforts. The question is whether or not Pebble Time can maintain that kind of fervor when it hits retail stores, especially with some of its biggest rivals on the way.