Question

Google acquired the NEST networked thermostat IoT business for a record high price and it has not fared well. Briefly describe one specific approach or tactic to help get NEST across the chasm to be selling millions of units rather than thousands. Nest sells online and at Home Depot.

Answer 1

Three years after explaining what thermostats' potential was, Palo Alto-based Nest is being bought by Google for one of the most biggest deals of the year of $3.2 billion. Nest was best known for making the Nest Learning Thermostat, which analyses the temperature preferences of its users. Now after being acquired by Google, the biggest challenge it faces is privacy concerns of the customers.This acquisition is a serious move for Google into the hardware space. Two years ago, Google did buy Motorola Mobility  for $12.5 billion which was one of the biggest acquisition of its time.Nest's two products collect all sorts of data on people's living patterns and conditions--including whether they're home or not. The things that i can suggest with the limited knowledge is Google must try and acquire or partner with its competitors because although it might look like a far fetched goal to gain trust of customers but it is possible in the future. Waiting for the right time can be the key to gain success as an organisation financially as well as in terms of innovation asnd acceptance.