Vivint Becomes First Wireless Internet Service Provider (WISP) to Offer Fiber-Fast Speeds Through the Air
One Quarter of Millennials Have Begun Building Smart Homes and Four-in-Ten Want One, According to The NPD Group
by Stacey Higginbotham for Fortune: Early adopters, venture capitalists and entrepreneurs have bought into the idea of a smart home, but mainstream consumers haven’t.
Leeo, a company that makes a connected nightlight that doubles as a smoke detector for the mobile era and has raised $37 million in funding, laid off about 30% of its staff Wednesday. Earlier this month, we reported that product manufacturing shop Quirky was unwilling to support its home hub software company Wink and it has put it up for sale, according to sources. Meanwhile, a home automation management device built by startup Ninja Blocks failed to raise funding and shut down.
Smart home startups like Goji and Plum are so late to market with their products that supporters who gave them money through their crowd-funding campaigns have given up on them. Goji’s smart lock was supposed to ship 18 months ago. Now the company is only shipping a small number of locks and plans to fulfill all other orders by August. Plum, a connected Wi-Fi light switch maker founded by the former head of CEDIA, the trade association for professional home automation installers, announced its product in early 2013 and plans to ship later this year. They were supposed to be ready in August 2013.
With $454 million invested in connected home companies last year, there is plenty of money riding on the smart home. According to CB Insights data, smart home startups took in a little over $1 billion in funding between 2012 and 2014. Cont'd...
Global Revenue from Shipments of Residential Internet of Things Devices is Expected to Reach Nearly $70 Billion in 2025, According to Navigant Research
One-fourth of broadband households in the U.K., Spain, and Germany find at least one smart home device very appealing
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