Wyze Raises $10 Million, Now $15 Million, And Seeks Services Expansion
Wyze has raised $10 million, the company's first disclosed raise since the $20 million announced at the beginning of 2019.
Update: July 25, 2020, new public records show fundraising has increased to $15 million.
Inside this note, we:
- Explain Wyze's disruptive plan for pricing, integration and analytics
- Review expanded services upcoming in 2020
- Analyze the company's planned expansion
- Examine the company's $10 million raise
- Review import records
- Analyze financial outlook
$10 ******* ******
** *** **, **** ***** * ~$** ******* ***** ** *** ***, ** ********* *****:
*******, ** **** ***** ** ************ from **** ***** ****, ****** **** do ****** ** ********** * ***** ** ***** ***** comments***** **** *** **** ********** *** did *** ***** ***** ********* ** invest:
** ******* ***** *** ** ******* fundraising ** **** *****, ** **** only ********* $** ******* *** ***, whereas*** ******** ***** *** $** ********** *** ******* *** ***** ************* since ****.
Pitch ** ******** *****
**********, **** ********* *"***** ** *********" ** *******, ******** *****:
Revenue - $** ******* ****, $** ******* ****
** *** *****, **** **** **** more **** ******* ***** ** **** from $** ******* **$** *******.
**** *** *** ********* ******** *** many ***** ***** **** **** ****. Back** ******* ****, **** ******** *.* ******* ***** ***, ***** that **** ***** ******* *****, ** would ***** ** *** ***** ** 5 ******* ***** *** ****.
**** *** *** ******* ********* ** come.
Ford ********** *** ****
**** ***** ** ** *** **** Motor ******* ** **** ********, *** the **** *****, ** ******, *** the **** ** *** ***** ***. As************.***********, **** ************ *** *** **** of **** *** **** ******* ******* at * ******** ** **** ***** competitors *** ** *** *****:
*** **** ************ **** ** **** with * *********** **********, ******** ** his ********** ********: *** **** **** batch ********** ** * ************ ****** assembly ****. *** ****** ** ************** and ***** *** ** **** *** price ** * ***** * **** to $*** ** ****, **** ***,*** of **** **** ****. ** ****, the ***** *** ****** **** *******, to $***, **** *** ****** **** sales ****** ** ***,***. ** ****, Ford **** *.** ******* ***** *’*. Compared ** ****, * ***** ********* of ** ******* -- ** ****** a ***** ** *** ******** ***** of *** ***** *, ***** *** itself * **** ***** ******* **** comparable **** -- *** ******** ** a *****-********* ******** ** *** ****** of **** **** ****.
*******, **** ************* *******. **** ******* and *** **** ******** ** ***** from *****. ** *** ***** ****, their ******** *** *** **** ********* than ****, ****, ***. ****** ****, at *****, **** ******* ************.
**** ********** ******'* ****, ****** **** "cost *** **** *** *** ****** consumer" ***** ******* * **** ******:
Admits *** *** ****** *** ****** *** **********
****, ******* ********* ****** ****, ****** that ** *** *** ****** **** security **** **** *** *** "****** the *** ... [***] *** ********** to ******* *** ****** ******** *** take *********** ** *** ******". *******, on **** ****, **** *** ********* efficiency ** *** ***** *** ********* process. ***** **** ***** ************* ***** similar ***-**** **** ******** ********, **** has **** ******** ***** ** *** efficiency ** ***** *** *** ***** Wyze *** ***** **** ******* *********.
Not **** ******
**** ******* ********** **** **** ******** is *** '**** ******' *** **** Wyze ** *** ******* ** **** it *****. ***** **** **** *** define **** '**** ******' ** ****, there ** ******* ********** ******** ** home ******** *** ************, ***** ** suspect ** ***** **, ** *** greater, **** **** *** **********. **********, even ** **** ******** ** '**** market', ***** ** ** ***** **** has *** ********* ** **** **** of ******** ** **** *****.
Disruptive ***********
****** ***** ***********, **** ****** **** have * **** ** ********* *** smart **** **** * "******** *** backend" **** ******** ***** ********* ** devices *** "***** *** ********".
*******, **** *** **** *** ****** certainly **** * ******* ** ******** that **** **** ***** *** ******** platform ****** **** ********* ** *** lower ****** **** ****.
*********
*** **** **** ***** **** **** will ******* *** ******** ******** **** video *********.
*** ********' *********** ** **-****** *********, include***** ********* ********* ****** ****** ****************** *** ***** ********. **** ****** that **** **** ******* ******** ****** detection **** ********* "***'* **** *****".
**********, ****'* ********* **** *****, ******** ****.***** * *** ****** ***** ** was *******. ***, ****'* ********* **************** ***** **** ********** ******* ***** consumer *********.
**** ** ******* ** *** *** in-house ***** ********* ******, **** ** what ** **** **** ** *** beta **** ******* **** ******** ******** ** ******** as **** ****, *** ******* ***** ***** **** work ** *** ** ** *** regain *** ************ **** **** ******* in *** ****.
Complete ****** *******
** ******** ****, **** ******** *** first ******* ************** ****** *******; *** $*.** *** *****, **** adds ** ** **-****** ****** *******. Assuming **************'* ~*% **** ****, **** ***** ******* * *** million ******* ** *********** *******.
Home ********* ********
**** ********* ***** ******** **** ********* Services ***** **** *** "**** ***** the **** **** ******** ******", *.*., companies **** ***, ********** ******* (*** *** ***** **** ******** at $** *** *****).
********* * ******* ***** ***** ** Ring, **** *** *** ********* ** generate *** **** ******* *******. ********, this ******* ** *** ****** **** highly ****** ***** ** ** ************ revenue. ** *** ***** ****, *** well **** **** ** ******** / alarm ********** ******* ** ** ****.
3 *** ******** - ******* ***, ***** ********, **********
*** ***** ** ***** ******** ** going ** ** ******. ****** **** be *****.
** *** ******** ********* ** ****, e.g.,**** ********** * **** ******** **** was ********** *** *************** **** *********** *** ***** **********.
** *** ***** ****, ***** ******** are *** *********** ***, **** ****'* now *****-******* ******** ****, **** **** surely ** **** ** ****** **** existing ********* ** *** ** ******* cameras, *********, *** ***********.
30 ******** ** *** *****
**** ********* ** ******** ** *** not ****** '** ******** ** *** works'. *** ************ ************ ***** * refrigerator *** * ******* *******:
******* **** ******** **** ***** * washing ******* ** ************ ** ******* but *** ******* ******* ** **** building ** ********* ***** ** **** IoT ********** ** ********* ******.
Low ******* / **** ******* *********
***** ** *** *** ***** **** Ford's ***** ******* **** ** *** 1920s, ****'* ***** ******* ** *** 2020s *** **** ***, ****** **% or ****. ***** **** ** * challenge *** *** *******, ** ** can ******** ** ***** ** *** generate *********** *************.
**** *** **** **** ** ****** 100*********, *** ****************:
*** * ******* **** ******** ****** $100 ******* *******, **** ** *** bad, **** **** *** **** *** gross *******.
** **** *** ******** ** **** revenue *******, ** *** ** **** to ******** * ********** *** ***** (remembering **** **** ** *** *********** anything) *** ******* ***** *** ******* despite *** ***** *******.
** ****, ** ***** ***-**** *** manufacturer (********* **** ***** ********* **** Dahua, *********, ******, ******) *** **** able ** ******** *** ***** ** customer ******* *** ***** **** **** has. ** **** ** **** ******* holds, *** ** *****, **** *** a ****** ** ****** * ********** long **** *******, ****** ***** *** Ford ***** ** **** ******** ** far **** ******.
****,
******* ** ******** *******, ***** ******** *** *****, ******* in **** ** ** ***** *** affect **** ******** ******* ** $** million.
*******, ** ******** **** **** *** at ***** $** ******* ** *******, likely ** *********** *******, *** ******* masks ** *** **** *** ******. This ** ***** ** ****** ******* that **** ***** ********* ***** ******** 2020:
***** *** ***** ******** ********* ***** COVID-19 *****, *** ***** * ******* point ** $**.** ** **** ~*.* lb *** *******, ** ** **** to ******** **** ******. **** ************* **** ********* *** *****.
*******, **** ***** ******** **+ ***** shipments **** **** ******.
*** *** ******* **** **** ** likely *********** *** **** **** ***** few ******, *** ** ** ***********?
* ***** *** ***** **** * box ** ***** ***** **** **** is **** ********* **** *** ** their **** *******.
******** ************ ** *** $***************.
**** ******** ******* ** ** *** investor, ***** **** ******** ****** ********.
** ** ********* **** ******, **** in *** *****, ** ****** ** saying "** *** ***** ** *** the ***** ** ******** ******** *** smart **** *** **** ********."
*** ***** *** ****** ** ** used, ****, ** *** **+ ***** products *** *** ** *** *** services.
* **** * *** **** *** a ****** ** ***** ***** ***** and * ***** ** *** ****/****** sensors **** * **** *** **** opened ***! **** ** *** ***** all ***** ***** **. ** ***** you *** **** ****** ***** **. Of ******, *** **** * ********** I **** ** ****** ** **** article * **** ** ******* ** all ** *****.
******: **** **, ****, *** ****** records **** *** *********** *** ********* to $** *******, ******* *** ********* ** *** **** D, ********* *****:
* ****** *** **** ** ***** revenue ** ********** ** **** *****