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What is Google Up to With Nest Labs?

By   /  January 23, 2014  /  No Comments

Ron Callari of Inventor Spot recently wrote, “OK, so a $3.2 billion acquisition is nothing to sneeze at!”


Ron Callari of Inventor Spot recently wrote, “OK, so a $3.2 billion acquisition is nothing to sneeze at! However, when your current stock price on the Nasdaq exchange is trading at $1148 per share, and your coffers are overflowing in excess of $57 billion in cash and marketable securities – $3.2 is more or less chump change for an Internet giant. But exactly what’s Google’s end game in acquiring a company that few of us knew about? Nest, according to Tony Fadell, its founder and CEO was started humbly with one device in 2010 – the lowly unglamorous thermostat. While it seemed like ‘a crazy idea at the time – it made all the sense in the world to us,’ Faddell asserted.”


Callari continues, “For him and his fellow co-founder Matt Rogers, they saw a much overlooked game-changer in the making. ‘That little device that went unnoticed and unchanged year after year on the walls of our homes was a lost opportunity to save energy and money. We knew we could do better,’ added Faddell. That was the nucleus and first step in creating what Fadell termed ‘a conscious home,’ an intuitive habitat, that up till now, no one had really cracked the code for. Or had they?”


He goes on, “In actuality, Logitech, Cisco, Ericsson, GM, IBM and even countries the size of China have been working diligently to become the front-runner in the race to create ‘Internet of Things‘ – the primal core of what Faddell is referring to. The Internet of Things (IoT, for short) is the technological advancement where everyday objects are connected to the Internet and participate together on a system — while being accessible vis a vis of conventional connected devices such as smart appliances, TVs, PCs, etc? First coined by Kevin Ashton in 1999, today he claims the IoT has the ‘potential to change the world,’ just like the Internet did (or ‘even more so’).”


Read more here.


Image: Courtesy Flickr/ Vassilis Online


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