$40m Pebble deal speaks volumes about smartwatch industry

Fitbit is reportedly out to buy smartwatch manufacturer Pebble for $40 million in a move which brings home the limitations in the segment.
Pebble is generally admired in the smartwatch segment which was clearly demonstrated in its Kickstarter campaign last year. The team reached its funding goal in roughly 17 minutes, but that would appear to be the peak in fortunes for the business, as it would appear to have slowly declined since.
Fitbit is reportedly buying Pebble to gain control over its IP,