Outlander Posted June 13, 2017 Posted June 13, 2017 https://www.geekwire.com/2017/seattle-startup-vet-rob-lilleness-acquires-smartlabs-investing-7-3m-home-automation-company/ I am hoping this will breathe some new life into Insteon?? Same info now on Insteon site: http://www.insteon.com/press-releases-blog/2017/6/13/richmond-capital-partners-acquires-smartlabs-and-fortifies-company-with-73-million-in-funding-to-accelerate-the-companys-push-in-the-iot-industry
cyberk Posted June 13, 2017 Posted June 13, 2017 Thanks for sharing! Sent from my iPhone using Tapatalk
Techman Posted June 13, 2017 Posted June 13, 2017 Interesting, hopefully we'll start to see some Insteon R&D
larryllix Posted June 13, 2017 Posted June 13, 2017 Thanks for sharing that! Awesome news! Maybe we will witness a sleeping giant, wake up? How do we contact this guy to enlist UDI forum and personnel as an advisory resource?
stusviews Posted June 13, 2017 Posted June 13, 2017 https://www.bloomberg.com/research/stocks/private/person.asp?personId=1109472&privcapId=24552563
elvisimprsntr Posted June 13, 2017 Posted June 13, 2017 Hopefully what ever this guy does he does not stop selling direct to the consumer by making all it’s products licensed professional install only. That would alienate 99% of the current user base that has kept SH in business.
stusviews Posted June 13, 2017 Posted June 13, 2017 Hopefully what ever this guy does he does not stop selling direct to the consumer by making all it’s products licensed professional install only. That would alienate 99% of the current user base that has kept SH in business. Why would someone want to eliminate 99% of their business, especially since retail has the higher markup (greater profit) although I doubt that Insteon retail constitutes even close to 99%. And what would they do with the retail store, continue to sell everything but Insteon? I see more innovation leading to greater sales, both for professional installers and DIYers such as us
mwester Posted June 13, 2017 Posted June 13, 2017 7.3M was all the whole shootin' match was worth? Wow... that explains a lot.
stusviews Posted June 13, 2017 Posted June 13, 2017 Looks like Joe is still running the company: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=6725700
larryllix Posted June 13, 2017 Posted June 13, 2017 Was the CEO. What would Target do with $82 Billion in Canadian stores?...bye!
elvisimprsntr Posted June 13, 2017 Posted June 13, 2017 Why would someone want to eliminate 99% of their business, especially since retail has the higher markup (greater profit) although I doubt that Insteon retail constitutes even close to 99%. And what would they do with the retail store, continue to sell everything but Insteon? I see more innovation leading to greater sales, both for professional installers and DIYers such as us If he was such a great CEO, why was he pushed out at UEI? So he “leaves” and starts a mobile analytics firm in his backyard and hasn’t run a consumer product company since 2006. Don’t know why SH let him in the door other than his $ and/or access to VC $ to pay off debt. VCs demand a quick ROI which these days means going public with an overinflated growth strategy. I thought SH already closed the retail store in Irvine.
larryllix Posted June 13, 2017 Posted June 13, 2017 Obvously, in view of the tracks left, the company has been in some turmoil. What CEO let's his company slide into the garbage can and rot like that? It would be interesting to know how many subordinate employees walked/quit/got tossed, in the last ten years. That would tell a real story. I see good things here. We can only hope. (Insteon protocol allows three hopes, right? ) Time will tell.
elvisimprsntr Posted June 13, 2017 Posted June 13, 2017 Obvously, in view of the tracks left, the company has been in some turmoil. What CEO let's his company slide into the garbage can and rot like that?Bob Carver comes to mind, although he was a physicist and engineer. I managed to sell all my Carver equipment near full retail when his company went bankrupt.
apostolakisl Posted June 13, 2017 Posted June 13, 2017 The biggest question I have is how they choose to manage satellite companies like UDI. Do they see ISY as an asset or as a liability, siphoning off sales that could be going to one of their own products. Since most tech companies (aside from Apple) seem to go the route of more open is better, more supporting companies is better, I have hope.
Techman Posted June 13, 2017 Posted June 13, 2017 Why would someone want to eliminate 99% of their business, especially since retail has the higher markup (greater profit) although I doubt that Insteon retail constitutes even close to 99%. And what would they do with the retail store, continue to sell everything but Insteon? I see more innovation leading to greater sales, both for professional installers and DIYers such as us They closed down the Smarthome retail store last year. I'm glad to see a new face in the company. Hopefully the venture capitalists behind the take over are in it for the long haul.
Techman Posted June 13, 2017 Posted June 13, 2017 Looks like Joe is still running the company: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=6725700 I believe Joe Dada has been out of the picture for some time. Scroll down to the bottom of the article. These are the new faces behind the Company http://www.insteon.com/press/
TrojanHorse Posted June 13, 2017 Posted June 13, 2017 7.3M was all the whole shootin' match was worth? Wow... that explains a lot. It's not clear. I read it that the price is undisclosed and they will invest an additional 7.3M Sent from my iPhone using Tapatalk
Scottmichaelj Posted June 13, 2017 Posted June 13, 2017 I suspect he is mostly interested in the tech from Insteon to sell licenses to manufacturers to integrate it into powerline communications for other devices specifically IoT. Possibly mimicking ZWave.
lilyoyo1 Posted June 14, 2017 Posted June 14, 2017 T Looks like Joe is still running the company: https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=6725700 it looks like they are using old information. Joe G. has been gone from there for over a year
larryllix Posted June 14, 2017 Posted June 14, 2017 It's not clear. I read it that the price is undisclosed and they will invest an additional 7.3M Sent from my iPhone using Tapatalk Article says "part of the deal". This is editorial grandstanding for "We are not really sure but this is the only rumour we could estimate, by lying and bullying people on the phone". Not many repercusions for Internet BS. Nobody can be bothered to get a retraction on a website nobody ever reads.
Banichi Posted June 14, 2017 Posted June 14, 2017 This will be an interesting development. Though regarding direct sales, I do how the model gets shaken up a bit. As a dealer, installer, integrator, it can be difficult to be profitable and competitive when SH offers multi packs of devices that are below dealer cost. I think that if they really opened up a solid dealer channel with some good support then Insteon would be poised to get a ton of market share. A lot more than they have now anyway. Insteon is absolutely DIY-able but there is also a complexity of setup and programming for more extensive installations that could really benefit from dealer resources. I hope that this acquisition takes Insteon from mostly a DIY product to a serious radio ra competitor. Sent from my Pixel XL using Tapatalk
elvisimprsntr Posted June 14, 2017 Posted June 14, 2017 I believe Joe Dada has been out of the picture for some time. Scroll down to the bottom of the article. These are the new faces behind the Company http://www.insteon.com/press/ What is that on Rob’s head?
larryllix Posted June 15, 2017 Posted June 15, 2017 What is that on Rob’s head? The whole company future?
Brian H Posted June 20, 2017 Posted June 20, 2017 Has anyone seen if Smarthome is part of the deal? I understand Smarthome is a retail sales branch of Insteon and other automation things. Smartlabs is the developer branch of Insteon and holds the patents for Insteon. At one time both where separate corporations . That where under a parent corporation.
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