Wyze Raises $10 Million, Now $15 Million, And Seeks Services Expansion

By: John Honovich and Joey Walter, Published on May 27, 2020

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.

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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 ******* ******

** *** **, **** filed * ~$** ******* ***** ** the ***, ** ********* *****:

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*******, ** **** ***** no ************ **** **** about ****, ****** **** do ****** ** ********** * ***** ** their ***** ************* **** *** **** considered *** *** *** allow ***** ********* ** invest:

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** ******* ***** *** be ******* *********** ** this *****, ** **** only ********* $** ******* for ***, ********** ******** ***** *** $20 ********** *** ******* *** grown ************* ***** ****.

Pitch ** ******** *****

**********, **** ********* *"***** ** *********" ** Youtube, ******** *****:

Revenue - $** ******* ****, $** ******* ****

** *** *****, **** says **** **** **** tripled ***** ** **** from $** ******* **$** *******.

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**** *** *** ********* recently *** **** ***** total **** **** ****. Back** ******* ****, **** said**** *.* ******* ***** and, ***** **** **** total ******* *****, ** would ***** ** *** range ** * ******* units *** ****.

**** *** *** ******* ambitions ** ****.

Ford ********** *** ****

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**** ***** ** ** the **** ***** ******* of **** ********, *** the **** *****, ** course, *** *** **** of *** ***** ***. As************.***********, **** ************ *** the **** ** **** and **** ******* ******* at * ******** ** what ***** *********** *** in *** *****:

*** **** ************ **** in **** **** * proprietary **********, ******** ** his ********** ********: *** move **** ***** ********** to * ************ ****** assembly ****. *** ****** of ************** *** ***** was ** **** *** price ** * ***** T **** ** $*** by ****, **** ***,*** of **** **** ****. By ****, *** ***** had ****** **** *******, to $***, **** *** result **** ***** ****** to ***,***. ** ****, Ford **** *.** ******* Model *’*. ******** ** 1909, * ***** ********* of ** ******* -- to ****** * ***** of *** ******** ***** of *** ***** *, which *** ****** * good ***** ******* **** comparable **** -- *** resulted ** * *****-********* increase ** *** ****** of **** **** ****.

*******, **** ************* *******. They ******* *** *** some ******** ** ***** from *****. ** *** other ****, ***** ******** are *** **** ********* than ****, ****, ***. though ****, ** *****, some ******* ************.

**** ********** ******'* ****, saying **** "**** *** much *** *** ****** consumer" ***** ******* * Ring ******:

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Admits *** *** ****** *** ****** *** **********

****, ******* ********* ****** Ford, ****** **** ** did *** ****** **** security **** **** *** not "****** *** *** ... [***] *** ********** to ******* *** ****** industry *** **** *********** to *** ******". *******, on **** ****, **** has ********* ********** ** the ***** *** ********* process. ***** **** ***** manufacturers ***** ******* ***-**** home ******** ********, **** has **** ******** ***** to *** ********** ** sales *** *** ***** Wyze *** ***** **** Western *********.

Not **** ******

**** ******* ********** **** home ******** ** *** 'mass ******' *** **** Wyze ** *** ******* to **** ** *****. While **** **** *** define **** '**** ******' is ****, ***** ** clearly ********** ******** ** home ******** *** ************, which ** ******* ** close **, ** *** greater, **** **** *** population. **********, **** ** home ******** ** '**** market', ***** ** ** doubt **** *** *** potential ** **** **** of ******** ** **** units.

Disruptive ***********

****** ***** ***********, **** claims **** **** * plan ** ********* *** smart **** **** * "seamless *** *******" **** connects ***** ********* ** devices *** "***** *** services".

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*******, **** *** **** and ****** ********* **** a ******* ** ******** that **** **** ***** own ******** ******** ****** Wyze ********* ** *** lower ****** **** ****.

*********

*** **** **** ***** that **** **** ******* the ******** ******** **** video *********.

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*** ********' *********** ** ex-Amazon *********, ************ ********* ********* ****** ****** ****************** *** ***** ********. Wyze ****** **** **** will ******* ******** ****** detection **** ********* "***'* that *****".

**********, ****'* ********* **** smart, ******** ****.***** * *** ****** until ** *** *******. Now, ****'* ********* **************** ***** **** ********** smarter ***** ******** *********.

**** ** ******* ** its *** **-***** ***** analytics ******, **** ** what ** **** **** on *** **** **** and**** **** ******** ******** as ******** ** **** week, *** ******* ***** needs **** **** ** see ** ** *** regain *** ************ **** lost ******* ** *** year.

Complete ****** *******

** ******** ****, **** launched *** ***** ******* called******** ****** *******; *** $*.** *** month, **** **** ** to **-****** ****** *******. Assuming **************'* ~*% **** ****, **** ***** ******* a *** ******* ******* in *********** *******.

Home ********* ********

**** ********* ***** ******** Home ********* ******** ***** they *** "**** ***** the **** **** ******** market", *.*., ********* **** ADT, ********** ******* (*** *** ***** such ******** ** $** per *****).

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********* * ******* ***** point ** ****, **** has *** ********* ** generate *** **** ******* revenue. ********, **** ******* is *** ****** **** highly ****** ***** ** is ************ *******. ** the ***** ****, *** well **** **** ** security / ***** ********** remains ** ** ****.

3 *** ******** - ******* ***, ***** ********, **********

IPVM Image***** **** ** **** to ******* *******, ***** doorbells *** ***********, **** boldly ********:

*** ***** ** ***** products ** ***** ** be ******. ****** **** be *****.

** *** ******** ********* of ****, *.*.,**** ********** * **** recently **** *** ********** but *************** **** *********** *** price **********.

** *** ***** ****, these ******** *** *** established ***, **** ****'* now *****-******* ******** ****, they **** ****** ** able ** ****** **** existing ********* ** *** on ******* *******, *********, and ***********.

30 ******** ** *** *****

**** ********* ** ******** to *** *** ****** '30 ******** ** *** works'. *** ************ ************ shows * ************ *** a ******* *******:

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******* **** ******** **** ships * ******* ******* or ************ ** ******* but *** ******* ******* of **** ******** ** expanding ***** ** **** IoT ********** ** ********* likely.

Low ******* / **** ******* *********

***** ** *** *** clear **** ****'* ***** margins **** ** *** 1920s, ****'* ***** ******* in *** ***** *** very ***, ****** **% or ****. ***** **** is * ********* *** the *******, ** ** can ******** ** ***** it *** ******** *********** profitability.

**** *** **** **** or ****** ************, *** ****************:

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*** * ******* **** reported ****** $*** ******* revenue, **** ** *** bad, **** **** *** very *** ***** *******.

** **** *** ******** to **** ******* *******, it *** ** **** to ******** * ********** low ***** (*********** **** they ** *** *********** anything) *** ******* ***** net ******* ******* *** gross *******.

** ****, ** ***** low-cost *** ************ (********* mega ***** ********* **** Dahua, *********, ******, ******) has **** **** ** generate *** ***** ** customer ******* *** ***** that **** ***. ** long ** **** ******* holds, *** ** *****, Wyze *** * ****** to ****** * ********** long **** *******, ****** being *** **** ***** of **** ******** ** far **** ******.

Comments (7)

* ****** *** **** of ***** ******* ** attributed ** **** *****IPVM Image

****,

******* ** ******** *******, ***** ******** *** masks, ******* ** **** so ** ***** *** affect **** ******** ******* of $** *******.

*******, ** ******** **** Wyze *** ** ***** $10 ******* ** *******, likely ** *********** *******, for ******* ***** ** the **** *** ******. This ** ***** ** import ******* **** **** three ********* ***** ******** 2020:

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***** *** ***** ******** shipments ***** *****-** *****, and ***** * ******* point ** $**.** ** only ~*.* ** *** package, ** ** **** to ******** **** ******. They ************* **** ********* *** *****.

*******, **** ***** ******** 30+ ***** ********* **** that ******.

*** *** ******* **** this ** ****** *********** for **** **** ***** few ******, *** ** it ***********?

* ***** *** ***** that * *** ** paper ***** **** **** is **** ********* **** one ** ***** **** cameras.

******** ************ ** *** $***************.

**** ******** ******* ** be *** ********, ***** with ******** ****** ********.

** ** ********* **** Crosby, **** ** *** video, ** ****** ** saying "** *** ***** to *** *** ***** to ******** ******** *** smart **** *** **** adoption."

*** ***** *** ****** to ** ****, ****, on *** **+ ***** products *** *** ** and *** ********.

* **** * *** that *** * ****** of ***** ***** ***** and * ***** ** the ****/****** ******* **** I **** *** **** opened ***! **** ** how ***** *** ***** stuff **. ** ***** you *** **** ****** about **. ** ******, now **** * ********** I **** ** ****** to **** ******* * will ** ******* ** all ** *****.

******: **** **, ****, new ****** ******* **** the *********** *** ********* to $** *******, ******* *** ********* ** SEC **** *, ********* *****:

IPVM Image

** *** ***** ** still ****, *'** **** in $* ** **** it ** **** $***.

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