They might have gotten a relatively lucrative deal with FitBit by way of an asset sale with hiring bonuses for transitioning staff, enough for them to abandon t

They might have gotten a relatively lucrative deal with FitBit by way of an asset sale with hiring bonuses for transitioning staff, enough for them to abandon their current efforts without any sort of Hail Mary fundraising or outreach to their customer base. This doesn't seem like an act of desperation to me, and if that's the case then they would have to down-play internal celebration since such a deal negatively impacts their user base. As for Fitbit, they don't have to honor warranties or fulfill orders for Pebble if they scrap the company while still getting what they want. They are competitors, so even if Pebble had strong cash flows worth maintaining, it's still a competing product line they might have eventually consolidated. Cut out the middle man. Buy the assets you want to keep. Avoid the liabilities. Tell customers whatever you think they need to hear.