Kickstarter Sets Off $7 Million Stampede for a Watch Not Yet Made
But he couldn’t even get a foot in the door, let alone secure any money for what he called the Pebble watch. So he turned to Kickstarter, a site where ordinary people back creative projects. Backers could pledge $99 and were promised a Pebble watch in return. Less than two hours after the project went up on the site, Mr. Migicovsky and his partners hit their goal of $100,000. “By that night, we were at $600,000,” said Mr. As of Friday afternoon, nearly 50,000 people had pledged close to $7 million — and there is still two weeks left before the fund-raising window closes. Pebble is the latest — and by far the largest — example of how Kickstarter, a scrappy start-up sprouted in the New York living room of its founders three years ago, is transforming the way people build businesses. The large amount of money that Pebble has raised — equivalent to what a young company would get in a second round of venture capital financing — also signifies a coming of age for Kickstarter. Mr. Mr. Mr.
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