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:
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:
Car (so maybe a good dash-cam?!)
Coffee Maker (just the smart plugs)
…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
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.