Roomba creator iRobot may go bust! \ stacker news ~Stacker

It’s looking bleak for iRobot

Roomba’s parent company is warning that its future is on shaky ground, more than a year after a planned $1.7 billion acquisition by Amazon fell through.

The news comes about 14 months after Amazon abandoned plans to buy the company because of concerns from European Union’s regulators, who threatened to block the deal. Soon afterward, iRobot founder Colin Angle departed the company, its stock cratered and the company laid off about half of its employees.

My Thoughts 💭

I guess trying to sell $300 to $800 automatic vacuums and mops isn’t a viable business model. Crazy to see the EU block a deal amongst American companies which could lead to its demise. I never owned shares in this company but I do have a roomba and it works quite well. Guess they couldn’t reach mass market appeal. I wonder if another company will come buy them.

0 sats \ 0 replies \ @Satosora 12 Mar

I feel the problem with this company is innovation. They made the roomba, then everyone copied it. They didnt really buckle down and make a cheaper one, or one that was significantly better afterwards. And the truth of the matter is, it is just a luxury product that works okay. An actual vacuum works so much better, but you have to put in the time and effort to use it. How many of the people that have a roomba can actually say they dont have a vacuum? I would think very little.