Hey Wyze family, you may have already seen this but we decided to make our investor pitch video public. This is the video we’ve been playing at the beginning of every meeting with an investor. We hope this gives you some insight into what we are working hard on this year.
While we are excited about the new products, we know there are lots of things we can do to improve current products as well. Those are just as important to us.
We want to make the best products at the most affordable prices to make great technology available to everyone. Thank you so much for all your feedback and help as we take the next step!
Thank you so much for releasing this video!! It’s awesome! I LOVE Wyze!! You guys are doing an amazing job! Can’t wait for the Outdoor Camera and Video Doorbell!!! Keep up the good work!
Doing big things! In Jan 2019 Wyze announced a $20Million investment from Norwest Venture Partners.
Apparently from that they “now have over 30 pieces of hardware in the works.”
Questions on everyone’s mind have got to be:
What are these 30+ Pieces of hardware in the works?
Is the $20 Million all used up already? What are they going to do with even more investor money?!?
Please tell us you aren’t going to give away too much ownership/control to investors and risk having the new investors force greediness and raised prices, more subscriptions (instead of included in purchase), etc…
1.a.) KNOWN HARDWARE IN THE WORKS FROM THE ROADMAP: We can look at the Roadmap to consider what the new pieces of hardware are:
Video Doorbell
Outdoor Cam
Thermostat
Full color bulb
Water leak detector
Alternative Bulb sizes (chandelier, etc)
1.b.) THINGS SHOWN IN THE VIDEO ANIMATION. In the video it showed drawings of some of the following items, though the drawing is nonbinding and doesn’t actually mean they are in the works (they are just indicating things that are often thought of as smart home tech, not that they are necessarily making them). It is still worth pointing out some of the items:
Microwave,
Refridgerator
Washer/Dryer
Car (so maybe a good dash-cam?!)
Coffee Maker (just the smart plugs)
Headphones
…but they also showed ridiculous things like a teeshirt and sunflower…though that could be indicating a shirt related to laundry and thus a smart washer (or just indicative of doing Wyze swag which is listed as maybe later), and a plant because they’ve talked about smart water valve and such.
1.c. WISHLIST RESEARCHING & MAYBE LATERS:
Network Attached Storage -Researching
Lightswitch and/or dimmer -Researching
Loud Siren -Researching
Button -Researching
Garage Door opener -Researching
Wyze Hub -Researching
Outdoor plug -Researching
Covid Respirator -Researching
Floodlight -maybe later
Integrated Floodlight cam -maybe later
GoPro style cam -maybe later
Different watt bulbs -maybe later
Peephole Camera -maybe later
Dashcam -maybe later
Power over Ethernet Capable -maybe later
Outdoor Wyze sense -maybe later
Robot Vacuum -maybe later
sliding door opener -maybe later
Robotic lawn mower -maybe later
2 & 3) $20 Million investment money was a lot of money. Wyze has a pretty small staff, and I can’t imagine their salaries have actually used up all this money already. Sometimes more investment money is actually a bad thing as investors expect things in return, such as ownership, a cut in royalties, demand changes to increase their greedy expectations, etc…I am just concerned that the whole reason I love Wyze could be taken out of Wyze’s hands by investors who come to control it…I know Wyze wants to take over the world with smart home things…but getting too many investors and rushing too fast isn’t always the smartest way to do that when you’re whole M.O. is to keep costs down…and investor’s whole M.O. is to demand more and more profit…the two tend to have conflicting interests. Please be careful.
I get that but in this case it means Wyze only devices. That’s why I only use Wyze cameras not their other devices. I don’t want to be limited by Wyze’s opinion of what my devices should do. I want them to interact with each other no matter who manufactured them.
It’s the reason I don’t use Apple products.
Nice video! It’s great to create new affordable products for expansion in the smart device sector, but I really hope you can spend more time and energy on improving your original products like the wyze cam and wyze cam pan, too! I enjoy using these products very much but there are lingering issues…
Also, some areas that can be improved on such as SD card continuous playback have been on the wishlist for almost two years but are still in researching status…Mark Events In Playback
I like the idea. I asked a cold-hearted financial analyst and here’s what he said. Does WYZE have a response?
"Private equity and startups are super risky. Few survive let alone thrive. Much of the technology imbedded in these products is produced by companies you already own such as Alphabet (AI), Microsoft (cloud services), Taiwan Semi, Qualcomm, NXPI Semi all on the semiconductor space. Corning and Verizon provide the network. So lots of investments in the tech space. "
Haha. Honestly we would LOVE for our users to be able to invest. We actually spent quite a bit of time with some fancy lawyers to try to figure out a way to do it. But there are just way too many regulations and hoops to jump through so it becomes very complex and near impossible. It’s not out of the question, we will take another look the next time we raise to see if we can pull it off. We definitely would rather have our own users be our investors, how cool would that be??
There are only 3 things I want from the list the most. 1. A hub to connect all my cameras, bulbs, plugs and any resent/new devices. 2. A video doorbell. 3. Battery/outlet powered outdoor camera.
