Source: Business Insider
Eric Migicovsky, the founder of failed startup Pebble, helps entrepreneurs avoid his past mistakes as a partner at startup accelerator Y Combinator. He shared one of his learnings as an investor in a blog post, telling founders to begin a pitch with a clear and concise description of what their company does. Migicovsky wrote: “If I don’t get it, I will have difficulty understanding your entire pitch and unfortunately, forget about you instantly after you are finished.” Click here for more BI Prime stories . Eric Migicovsky, the founder of Pebble, knows how to pitch a company. He burst onto the tech scene in 2012 after launching what was then the most successful campaign on Kickstarter in history, raising $10.2 million to manufacture the first smartwatch. Pebble went on to sell 1 million watches. The business started to struggle after Apple, the world’s largest technology company, released its long-awaited smartwatch competitor, cutting into Pebble’s sales. Migicovsky sold his company in a fire sale to FitBit in 2016.