Pebble founder says his new company is ‘not a startup’

City: Las Vegas: Eric Migicovsky, the founder of Pebble, has a new company called Core Devices. He says Core Devices is “not a startup.” Instead, it is a small team and focuses on making smartwatches and an AI ring. They don’t make things until they have sold them, which is different from his last experience.

At the Consumer Electronics Show, Migicovsky explained how he structured the business to be sustainable and profitable. He noted that his prior venture, Pebble, faced tough times. They once sold around $82 million worth of products but had too much leftover stock. This time, he wants to avoid those mistakes.

The new Pebble watches are for tech enthusiasts, not just anyone. He wants them to be fun and simple, more like casual wear than fancy jewelry. With only a small team of five, the company is now focused on selling directly to fans through its website.

The smartwatches have already received 25,000 preorders, and an AI ring called Index 01 has around 5,000. Migicovsky is excited about their plans for the future, emphasizing that what they create will be unique and helpful. They aim to make simple products that improve daily life.