In 2012 I was at a company doing IoT. They have downsized a lot since. We had the phone app controlled thermostat, outlets, and power monitoring in devices.
The Nest seemed like a prettier version of our products. Ours looked like a thermostat.
This sounds more like a "who you know" than "what you do" aquisition. Nest was privately held so no numbers are available. The founders are from Apple and Google, so they had the inside track. Maybe Google is blocking Apple or Cisco?
Kudo's to the founders for a nice exit. We are just jelous because we did not think of it first, or did and could not get the fat payoff.
Three billion does seem a lot for what must be the meager earnings of Nest right now. But Google is speculating that Nest has a much brighter future ahead of them. And they may be correct, especially if they can leverage Google resources into future products. Nest will need to produce Android apps for their thermostats as well as ios :-)
The fact that your wife is already plugged into the Nest marketing hype says quite a bit. I wonder how much of it is "let's switch all the nest stuff over to Google phones." rather than a quest for technical know-how. The concept is pretty simple. This is a marketing decision...
@dougwithau: Kudo's to the founders for a nice exit. We are just jelous because we did not think of it first, or did and could not get the fat payoff.
Kudos indeed -- it's not everyone that wangles $3.2 billion for a thermostat (no matter how cool it looks). I know that if I had been one of the founders, I would be walking around with a great big smile on my face round about now LOL
Our family went to see this movie one Sunday afternoon, as I recall. It's coming to life!! Egad!
Well, we've seen sci fi movies depicting talking appliances, for decades now. Some of these ideas are probably not bad. Some remote monitoring and control makes sense. Others are just forced. For example, a refrigerator has absolutely no reason to wonder whether you're going on vacation, or just going to work. Design it right, and it will save power whenever it gets a chance.
Much like the article on cars, sometimes the marketing types just get too ambitious to make a lot of sense.
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