2 ms·
> 200 million in funding > 100 million in sales Well, there's your problem right there. I have a feeling this was a company that would have done well if it ha
by umeshunni 8y ago
> 200 million in funding
> 100 million in sales
Well, there's your problem right there.
I have a feeling this was a company that would have done well if it had avoided the lure of VC funding, built its product and scaled slowly solving the interesting and challenging problems of building a home/play robot and getting consumers to like and want it, eventually selling to an Amazon or Google for a $100M+ exit.
Instead, they tried to fund their way to become a robot unicorn and died an undercorn.
- jlarocco 8y agoYeah, it's a shame tech entrepreneurs are so greedy. In most other fields $100 million in sales would (potentially) be a great business. Same sentiment with respect to getting acquired. Having 4 or 5 giant companies control everything is terrible for the long term health of the industry.
- deleted 8y ago[deleted]
- craftinator 8y agoI disagree. Designing, testing, and building hardware is extremely expensive, and has a really long range return on investment; the fact that they coupled that with AI, also a long term ROI, means that they really needed a great deal of money at having a chance to succeed. I could see Cozmo as play to bring in a little more capital until they could finish creating industrial grade robots, but possibly too little too late. I'm not saying you need $200M to design/build hardware like this, but in this case it seems they may have expanded too quickly and didn't capture enough market share.