Karissa Neely for Daily Herald: In its first round of venture capital funding, Vivint Smart Home, the Provo-based leading provider of smart home technology and services, announced a $100 million equity investment co-led by tech investor Peter Thiel and investment firm Solamere Capital.
The strategic investment will help fuel Vivint’s rapid growth and product innovation as it extends its preeminent position in the growing smart home market.
A venture capitalist and entrepreneur who co-founded PayPal, Thiel is known for backing transformational technology companies, and was the first outside investor in Facebook and is one of the largest shareholders of Airbnb.
“For Peter and Solamere to place their confidence in Vivint as the smart home leader is a huge validation of what we have built and where we are headed,” said Todd Pedersen, founder and CEO of Vivint Smart Home, in a press release. “The fact that they are investing in our future demonstrates their passion for our business and their vision for this industry. We look forward to working together to redefine the home experience.” Cont'd...
Thirty Million U.S. Households Projected to Add Smart Home Technology in Next 12 Months, August Home and Xfinity Home Study Reveals
Ecommerce News: The Internet of Things is wildly popular among consumers. UK department store chain John Lewis has now launched a new smart home department to showcase all kinds of gadgets that should make the consumer’s life at home more convenient.
John Lewis launched a 93 square meter department dedicated to gadgets, such as an oven that can be turned on from the office or a bedside device that measures the quality of sleep. According to the department store chain, it’s the largest fixed retail offering dedicated to smart home technology in the UK.
John Lewis decided to open the new department after an 81 percent increase in sales of smart home products in the past year at the British store. Also, 18 times more people searched its website for smart home products in 2015, compared to the previous year. Cont'd...
By: John Dewey for TechNewsToday: Amazon has been making huge strides ever since it launched the popular speaker, Echo. A market research firm, Consumer Intelligence Research Partners (CIRP), revealed yesterday that the e-commerce giant has sold almost 3 million Echo speakers since its launch, as reported by GeekWire.
The online retail giant launched Amazon Echo in 2014. The company initially launched the device on an invite-only basis but it was made available for the general public in June 2015. In addition, the sales of the device slowly increased as the word spread out among consumers about its abilities such as it can control the lights or thermostat of any connected house.
According to CIRP, the awareness about the device among customers has doubled in the last year. Moreover, the market research firm based its conclusions on the survey of 2000 consumers in the US who bought the Echo via the company’s website. Cont'd...
Lily Prasuethsut for Wareable: The Internet of Things is a burgeoning industry that seemed like it was going to take off several years ago, but the hubbub has since died. That doesn't mean the interest is gone though - rather no one really knows what to do with all their smart devices.
Take for example, Apple HomeKit or Nest, or Samsung's SmartThings platforms. They're all ready and available - but not quite. Most products still require you to download third party apps just to connect to HomeKit in order to use Siri.
Essential reading: Follow Our quest to build the ultimate smart home
Physical hubs are available but that means you'll need yet another piece of hardware in your already crowded smart home. Essentially, there's no glue holding these products together - at least not one that's good enough to overcome the saturated market.
That's where Yonomi comes in. The app wants to quiet the smart home static by bringing in one simple system so all of your gadgets have their own place to call home. We spoke with Yonomi co-founder and CEO Kent Dickson to figure out why there's no solid platform, and learned how the company plans on changing the smart home space. Cont'd...
Stacey Higginbotham for Fortune: In January 2014, Google (now under the parent umbrella corporation Alphabet) said it would purchase Nest for $3.2 billion, which validated the hopes and dreams of hundreds of startups that were also building connected products for the consumer home.
After the deal was announced, the VC world went mad searching for investments, while larger companies searched for potential acquisition targets. At industry events that year, everyone I ran into with a connected product or a KickStarter was in talks to sell out or score more funds.
But two years later, the reality has set in as entrepreneurs in the space are dealing with a skeptical customer base and the challenges of seeing their grand vision for a connected home get mired in rival standards. Meanwhile, economic concerns are leading tech companies to prepare for everything from a nuclear winter to a mild recession. Cont'd...
Jared Newman for TechHive: Google and Nest reportedly have a bunch of new smart home products in the works, but there may not be much collaboration happening between the two Alphabet subsidiaries.
On the Google side, the search giant may be working on a competitor to Amazon’s Echo connected speaker, according to The Information (via The Verge). The story reveals no details about the product, but it seems like an obvious fit for Google, which has already made voice controls a centerpiece of its Android Wear smartwatch platform. A device that answers Internet queries and controls other smart home products could very well tie into Google’s broader efforts to create a new platform for the Internet of Things.
Earlier this month, Recode reported that Nest had explored its own Echo-like product. But Nest ultimately abandoned the plans, partly out of concerns that an always-listening virtual assistant with ties to Google might freak people out. The Information now reports that Nest wanted to be involved with Google’s connected-speaker efforts, but was rebuffed.
Where does that leave Nest? The company may now be turning its attention to home security, with three projects in development. Cont'd...
Smartphones and Voice Commands Vie for Control over the Rapidly Growing Smart Home Market, According to The NPD Group
Michael Wolf for Forbes: If you’re like me, remembering how different using a mobile phone was back in 2006 is getting increasingly difficult. That’s because today we live in a world so completely transformed by the iPhone, it seems as if it’s always been that way.
But looking back, things were indeed very different. If you used a smartphone at all back then (something the vast majority of consumers did not), chances are it was a Blackberry. If you tried to use the Internet on your phone, you might remember the “mobile Internet” experience, such as it was, was pretty horrible. Most consumers at the time still used basic feature phones, and industry analysts predicted that smartphone adoption would grow, but not at nearly the eye-popping rate we would soon see in the age of the iPhone.
As we now know, the transformative nature of the iPhone quickly changed nearly every assumption we had about mobile phones and, as a result, had a ripple effect that resulted in nearly every company in mobile (and pretty much every industry) changing their own approach to the market.
In many ways, I think the the Amazon Echo is an equally transformative product for the smart home. Whether it’s how early Echo owners are interacting with their device or its how Amazon itself is rewriting the rules of competition, the two products share a number of industry-disrupting similarities. Cont'd...
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