Jawbone UP2

It's been a busy week for Jawbone. First news came that the long-delayed UP3 would finally launch in the coming days, but it would not be waterproof enough for swimming, as previously promised. Then the Wall Street Journal broke the news that Jawbone had partnered with American Express to add payments to a future wearable.

That future wearable was just unveiled by the company -- UP4, a $199 wristworn wearable set to launch this summer, with the American Express NFC-enabled payment features the WSJ scooped. UP4 wasn't the only new wearable announced by Jawbone this week though.

In a surprise move, Jawbone also launched a new $99 device called UP2, which is available in stores now. UP2 offers the same features as UP24, but it's almost half the size of the legacy device and less expensive. It has a few features the company's least expensive device, the $49 clip-on UP Move, doesn't have, including a smart alarm clock and vibrating alerts.

Meanwhile, the UP3 is scheduled to go on sale on April 20th for $179 both online and in stores.

Following an interview with Jawbone CEO Hosain Rahman, Re/Code confirmed that Jawbone's delay in launching the UP3 was a result of issues related to trying to make the device as waterproof as possible.

“Shame on us for overreaching,” Rahman told Re/Code in reference to the failed waterproofing efforts. While the device will be water resistant, it won't be a swim tracking device.

The publication also noted that its sources say the company has closed a $300 million round of funding from BlackRock Group at a $3 billion valuation. Fortune reported that BlackRock was close to investing $300 million in Jawbone back in February.