Shelly Banjo & Shira Ovide for BloombergGadfly: Best Buy's quarterly financial results on Tuesday were downright Amazon-like: Consecutive quarters of double-digit online sales growth. Hot new products including virtual-reality headsets and techy watches. Words like "exploration" and "experimentation."
Gone were the store-closing announcements of quarters past, along with talk of bad weather or other tired excuses for why consumers aren't shopping (many of which we've heard from Target, Macy's and other retailers in recent weeks). Shares surged 19 percent on the news, marking Best Buy's biggest one-day stock gain since 2001. Cont'd...
Adam Rowe for Tech.co: Funding for smart home startups is looking up. According to the latest data from CB Insights, funding amounts are on track to be 30 percent better than they were in 2015. That’s only the total amount of funding, though: The actual number of deals is still on pace to remain even. Both the amount and the number of deals are well below the smart home interest peak in 2014, however.
In short, smart home startups are showing signs of weathering the 2014 bubbleand continuing to march towards profits. Cont'd...
Greg Miller, Senior Analyst for Wall Street Daily: Over the past couple of weeks, we’ve discussed the promises and perils of the Smart Home, as well as why this segment is on the cusp ofbreaking into the mainstream. Naturally, it’s time to ask: “How can I profit from this?”
Unfortunately, there’s no easy answer. Ideally, there would be one or two tickers predicted to soar from the rising Smart Home trend, but there isn’t such a company out there yet. However, there are still ways to participate in the upcoming boom. It will require some creativity and careful investing, specifically in companies with small current exposure to the area. Here are some guidelines for investing in the Smart Home – and for avoiding expensive mistakes. 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...
Ecovent Closes $6.9 Million in Funding to Bring Room-by-Room Temperature Control and Comfort to Homeowners
Ecovent, the maker of the only intelligent home zoning system that delivers complete room-by-room climate control, today announced that it has closed a $6.9 million Series A funding round led by Emerson Climate Technologies, a business segment of Emerson (NYSE:EMR). The round includes participation from Tamarisc and Blue Fog Capital.
Ecovent started the year being named Automation Product of the Year at CES 2015, and has struck a chord with consumers, bringing in more than $1 million in pre-orders. Ecovent is transforming the home by giving consumers control over their comfort in every room. Ecovent's advanced system of wireless vents and sensors intelligently diagnose the factors impacting room temperature and automatically adjust airflow into each room to achieve the perfectly desired temperature. With Ecovent, homeowners have the ability to control the temperature of each room individually through an app, saving energy and money by heating and cooling only the rooms that need conditioning instead of the entire home.
"Today's cars allow passengers and drivers to set individual temperatures, yet most homes have only one adjustable zone, and it's time to change that," said Dipul Patel, CEO and co-founder of Ecovent. "We developed the Ecovent system to give people room-by-room temperature control in any home - automatically. It's incredibly exciting to have the support of an industry titan like Emerson to help us bring Ecovent to a larger audience as we change the way homeowners experience comfort in their homes." Full Press Release:
With More Than $1 Million in Pre-Orders, Ecovent Closes $6.9 Million in Funding to Bring Room-by-Room Temperature Control and Comfort to Homeowners
BY JOEL GRIFFIN: There was a time in the residential security market when having home automation features to go along with window and door contacts and motion detectors was simply a “nice to have” rather than a “must have” offering. The industry has evolved to the point, however, where even the term “home automation” is passé, having given way to the more commonly used terminology of “connected home” or “smart home” space in which security is part of much bigger overall solution for today’s homeowners.
The growing prevalence of this technology was further reinforced late last month when Alarm.com, one of the dominant players in the smart home space, launched an initial public offering on the NASDAQ.
According to John Mack, executive vice president, co-head of investment banking and head of mergers & acquisitions at Imperial Capital, which acted as a co-manager on the offering, the IPO serves as a “strong validation” for this paradigm shift that has taken place with regards to the integration of home security with automation and where the market could eventually go.
“I think it is very important for the overall security alarm industry to see what has really been the leading player in home automation software and has really played a key role in enabling the home automation side of this industry to be able to go public at a very attractive valuation and get a lot of very positive attention from the best of the investment community,” explained Mack. “A lot of the validation that came with a big valuation for Alarm.com is effectively a view of the potential for the whole industry.” Cont'd...
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