Sonos Acquires Voice Assistant Startup Snips for $37 Million
for smart speakers and other devices. Sonos spent $37.5 million in cash on the startup, and is gaining a European office with over 50 staffers as well as voice-specific patents through the deal.Wednesday that the company wasn’t planning to compete with Amazon’s Alexa or the Google Assistant, which are both available on voice-enabled Sonos speakers. “We are not building an ask-anything assistant,” Spence said. Instead, the goal of the acquisition was to build something a lot more music-specific.
“It’s an option we want to provide customers,” Spence said. “Freedom of choice has been a big part of our message.”quarterly earnings report Analysts had expected losses of $0.21 per share on revenue of $289.4 million. Spence said that a lot of the quarterly cost increases were driven by investments into research and development, which included opening an office in San Francisco and hiring a significant portion of the engineering staff of the failed robotics startup Anki. “We saw a lot of new opportunities ahead,” Spence said about the company’s R&D roadmap.
That may sound like a small increase, but for Sonos, it’s significant: Existing customers registered 37% of all products bought in fiscal 2019. Company executives have been arguing for some time that Sonos owners tend to buy more Sonos speakers over time, further fueling the company’s growth. Spence admitted Wednesday that this part of his company’s story hasn’t been as widely understood by the public market yet. “We haven’t done a good enough job in getting across to investors,” he said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
WPP lawsuit claims former Walmart agency inflated its value by 40% - Business InsiderWPP acquired Triad Retail Media in 2016 for $300 million, but WPP alleges the private equity firms that sold the company exaggerated its earnings.
Baca lebih lajut »
Elavon acquires Sage Pay for $300 million to grow its market share in the UK and Ireland - Business InsiderElavon's acquisition of Sage Pay follows the footsteps of major payments firms that have consolidated and positioned themselves to cross-sell:
Baca lebih lajut »
Hollywood's Top 25 Marketing Masterminds of 2019Meet the marketing execs filling theaters, acquiring subscribers and reviving Friends 25 years later
Baca lebih lajut »
Todd Phillips in Talks to Direct Joker Sequel, with Joaquin Phoenix 'Likely' to ReturnTodd Phillips is in talks to direct the jokermovie sequel, with Joaquin Phoenix 'likely' reprising his role:
Baca lebih lajut »
Flames engulfed two luxury yachts worth over $20 million in Florida, sinking them — here's what happenedThe longer yacht was worth between $16 million and $18 million, and the shorter between $2 million and $4 million. Both were completely destroyed.
Baca lebih lajut »
Sony Acquires AT&T’s 42% Game Show Network Stake In Deal Worth $500MSony has acquired AT&T’s 42% stake in Game Show Network in a transaction with a total value of $500 million. After the deal, Sony will own 100% of the multimedia entertainment company, wh…
Baca lebih lajut »