Sorry!! The article you are trying to read is not available now.

The Internet's Coolest New Toy

Print comment Post Comments

What’s the coolest thing on the Internet this month? You guessed it: the Pebble Smartwatch, at least if Kickstarter and the New York Times are to be believed.

Earlier today, the New York Times Bits Blog reported that the Pebble Smartwatch’s developers have decided to stop fundraising on, due to the overwhelming success of their efforts. Technically, they have a week before the drive officially closes, but the watch’s team seems to think that approximately one hundred times their original goal is enough.

The Smartwatch went up on Kickstarter at the end of April, looking to raise $100,000 in a month. They surpassed that goal on the first day, and as of this writing have raised $10,173,645.

According to its description on Kickstarter, the Pebble Smartwatch is “the first watch built for the 21st century.” It’s customizable, waterproof, and comes in several different colors. It can connect with smart phones using Bluetooth and even receive text messages when connected with Android (GOOG) phones -- iPhones (AAPL) don’t expose this data, according to the site.

Perhaps more importantly, the watch is app-friendly and the creators have encouraged outside developers to code for it. Currently, the watch can be used to control music on a smart phone and can serve as both bike computer and golf rangefinder.

Unfortunately, if you haven’t already pledged money, it’s going to be difficult to find one. All pledge levels on Kickstarter -- except for a $1 pledge that promises “exclusive updates” -- have sold out. Contributors will receive advance copies of the watch when it releases later this year.

The Times claims that the watch will eventually be sold in an online store, but not until everyone who pledged on Kickstarter has received one.

It does look pretty cool. That said, the more important point here might be the incredible power having a trendy, viral product gives developers.

As of right now, the only person having a better fundraising day is President Obama.
POSITION:  No positions in stocks mentioned.