Apple Inc. (NASDAQ:AAPL)’s recent event for the Apple Watch had the unintended consequence of benefiting another smartwatch maker: Pebble.
According to TechCrunch which did an analysis of the funding for the Pebble Time on Kickstarter before, during and after the Apple Inc. (NASDAQ:AAPL) event Monday last week, the campaign on the crowdfunding site was boosted 167% per hour the day after the iPhone maker revealed more details about its own watch.
As of publishing, the campaign now has over $18.7 million in funding out of its $500,000 goal. And there’s still 11 days to go before the Pebble Time campaign closes.
TechCrunch notes that the Pebble Time campaign was gaining funds at about $6,000 per hour the day before the Apple Inc. (NASDAQ:AAPL) event. The day of the Apple Watch event, that rate increased to $10,000. The day after the event, the rate was up to $16,000 per hour on average, the publication notes.
“Apple’s event this week caused a nice spike in support for us, as anticipated. When the biggest company in the world enters your market, that’s the kind of validation you can only dream of. Ultimately the more awareness for smartwatches, and the more choice for consumers, the better for everyone,” says Eric Migicovsky, Pebble CEO and founder, according to TechCrunch.
As it appears now, the technology giant appears to be making more and more people aware and supportive of the wearables space as it enters the fray. As Migicovsky pointed out, the entry of an 800-pound gorilla into the space validates it.
However, it should be pointed out that being the massive company that it is, Apple Inc. (NASDAQ:AAPL) may end up beating other companies in the space into irrelevance.
Ken Fisher’s Fisher Asset Management owned about 10.76 million shares in Apple Inc. (NASDAQ:AAPL) by the end of 2014.
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