Again, that's not quite true. They had barely managed to eke out the Pebble 2 the month prior but had been in distress for quite some time. They had a huge layo

Again, that's not quite true. They had barely managed to eke out the Pebble 2 the month prior but had been in distress for quite some time. They had a huge layoff earlier that year as well and were forced to raise a debt funding round sometime that year as well. The market was doing well but the CEO commented about how hard it was for hardware companies to raise funds, especially as hardware companies were getting crushed in the market. The truth is Apple came in and ate everyone lunch. Pebble was effectively dead the moment Apple announced their plans for a smartwatch.