5 Biggest Crowdfunding Scams and Failures of All Time

3. Pebble Time 

Amount Raised: $20.3M

Pebble Time was a water-resistant smartwatch that allowed its users to send voice messages. It had a battery life up to 7 days. However, soon after the customers received their watches, the company sold their watch to Fitbit, which is why customers were not able to function or update it.