Rejected By VCs, Pebble Watch Raises $3.8M on Kickstarter
I don't really get Kickstarter. Backers essentially are paying the startup company for a product (or early prototype). Sure the company gets some money upfront, but they eventually have to deliver on the product?
And what else does the backer get, apart from the product? Equity? No.
How much money will Pebble be left with after this process?