The crowdfunded watch, Pebble, which became a darling of Kickstarter success stories, may be facing serious financial problems, despite raising a staggering $20 million on the site. Sources say that the company is getting a bit too big and can’t support the success. It has supposedly taken out a $5 million loan with an additional $5 mil line of credit.
Technology is filled with all kinds of rumors and speculation — real and fabricated. BitStream collects all those whispers into one place to deliver your morning buzz.
Right now, Pebble has 150 employees and is still growing, and its newest smartwatch sports a color screen and 7-day battery life. This new wearable is by far the top-funded project in the site’s history. But now the company is turning to VC money to keep up with its own monster growth, according to rumors. [TechCrunch]
Apple expansion: The tech giant is apparently thinking of expanding to San Jose, California. Apple’s headquartered a bit to the west in Cupertino, but San Jose is the largest city in Silicon Valley. [Silicon Valley Business Journal]
Oculus raunch: Oculus founder Palmer Luckey was mum when asked if Oculus Rift would block adult content, leading pretty much everyone to believe we’ll be able to watch porn in VR. [CNET]
RadioShack sells customer data: A U.S. judge ruled the bankrupt electronics chain can sell nearly 70 million customers’ details in a $26 million assets deal. The purchasing hedge fund will only have access to customers’ email addresses, however. [Bloomberg]
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Image credit: Kickstarter