Proxy Acquires Ring Maker Motiv
Fresh off of raising $42 million, access startup Proxy has acquired Motiv.
Motiv, itself, had raised tens of millions of dollars to develop a wearable ring over the past 7 years.
But why would Proxy acquire Motiv now and what do they intend to do with the company's historically fitness tracking orientation? We spoke with Proxy's CEO and in this note, examine the background, potential fit, and outlook of the combined companies.
Motiv ********
******* ** ****, ***** *** ** early ******* **** *** ****** ********** wearable ******, ********* ********* ********** **** general '******' **** ************* **** ***** **** on * ******.
***** ********* **** ~$** ******* *********** ** ***** *** ******* ******** product ** ******, * **** ************* as ********** ** ****** ********:
*******, *** ******* ********** *** *** convert *** ***** ********* ** ****** success ********** ** *********** ********* **** released.
Fitness ******* ***********
** ***** ** ******* ********, ***** fitness/sleep ********** ********* *** **** ****** than********** ****'* ****** *****-**** ******* **** ***-******** ****** bands.
Motiv **** ********* **********
*** ******* ************ ****** ***** **** to ****** ***** ** ********* **********, which ********** ** ********* (*.*.: ***** Rate) ** **** ** ******** ******** wearers.
** *** **** ** **** ** another ****** ***** **** *** *****-************* individual, *** **** **** *** ***** the ******'* ********* ** *********** ** the ****'* *****, *********** ********* **.
Acquisition ***** / ***** *******
***** *** ********* ***** *** ******** the ***** **** *** *****'* *******, we ******* **** **** **** ***, given *** ******* *** ****** **** ~40 ** ~** ********* *** ******* not **** ******** ***** ** *** company's **-****** *********.
*** *****, **** ***** **** *** a **** ** ****** ***** **** for ****** ******* ******* ****** ** spend **** *****. ** ** *****, it *** ****** *** ** ** fails, ***** ** ** *********** **** or **** **** ***** ****** ***********. It *** ** ***** **** * strategy ********** **** **** ***** *****'* first *********** ** ***** ** *********.
Proxy *********** ** ****
***** **** ** **** ****** **** wearables *** ** ********* ** *** company ***** ********,****** *****'* ********* **** ****** ***** ******** ** opportunity ** ******* *** ******** **** to *****'* ********.
** ***** ** *** ***, *****'* CEO ********:
****** *******, *** ***** ***** **** be **** ******** **** * ********* identity *********** *** ******* **** *** capabilities.
********* ** **** ** ********* ************* for *********** ******** ******** ****** ** critical ******** ******* *** ***** ***** funds, *****, ********* *********, *** **** extend ** ********** ******* ** *****, physical ******, *** ****, ***** ****, lockers, ******* *****-***, ***, *********, ******** and ****.
** ******* *** ****** ** ** is * ***** ******** ***** **** that ** *********** ****** ** *** human *** *** ************ **** ** any ******** ** ******* ****** ** a ****** *** ******* ********** ***.
Outlook *** ****
*** ****** *** *****'* **** *********** is ***** ** *** *******'* *** to ******* **** **** **** *****, including ************ **** ******** *** ****** customizations ***** ** **********.
** ******* ******** ***** ********:
*** **** ** *** ***** *** Proxy, **** ** ****** *** **********, the ******* ****. ***** ****** ******* for ***** ** ***********, ***** ********* offering ** ******** ******** ** * broad ***** ** ******* ******* **** printers ** ** ** ******* *****, tablets, ** ********* **** **** ****** and **** *******.
******, **** ******* ** *** **** term **** ***** **** ** * distinct ******** ** ******* **** **** control ****** **.
********* ** *** ***** ***** *** platform *** **** *** ************* ********* like ******** *** ***** '***-****' ************ requiring ******** ************, *** **** ***** be ****** *** *******.
***** ************ **** ***** ******* ************ (i.e. *** ****, ******* *****-***) *** in *** ******* ********** ******.
Next ***** - ***** ****
***** **** ** ********* *** ****** rings ** ***** ** *****. *** company ***** ** **** **** *** be ******** *** **** ******** ***** smart *****.
****-***********, ***** **** ******* ******** ***** by ******* *** ******* ******** *******, but **** *** ********* **** *** new ***** ** *** ***** ***.
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