Citizen denied a report it planned to purchase the brand
Fitbit is poised to buy pioneering smartwatch brand Pebble, according to numerous press reports.
A Wall Street Journal report says that Pebble is running out of money and that while Fitbit is interested in Pebble’s intellectual property and employees, it will probably close out the brand.
Pebble became something of a sensation when it raised over $10 million via Kickstarter in 2012, showing the seeming potential of the smartwatch category. Now it controls just 3.2 percent of the category, according to reports.
A Citizen Watch spokesperson denied a report in TechCrunch that said the company wanted to buy Pebble for $740 million in 2015.
“This information is incorrect and we did not try to buy Pebble,” Samantha Barker told JCK in an email.
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