Last week marked one heck of a week for acquisitions. Google continued its world domination by acquiring Nest, the company that tries to reinvent “unloved but important” home devices (like thermostats and smoke detectors), for $3.2 billion in cash. Groupon, known for finding discounts, shelled out $43 million for “flash sale” site Ideeli. And, last, but certainly not least, Jim Beam was acquired by Japanese beverage giant Suntory for a solid $16 billion.
Let’s talk about the Nest acquisition for a moment. Nest is one of the companies we have followed closely here at Extole. Inspired by the use of technology to make things simpler for people, Nest has taken home devices and made them innovative and easy to use. With a nod to Apple’s intuitive products, Nest similarly gives its customers “intuitive” ways to interact with their thermostats and smoke detectors – even when they aren’t home. This whole connected consumers and devices concept was one of the hottest topics at CES the beginning of this year – further proving Nest’s innovative products are here to stay. And, Google sure took note.
What does this mean for the future of brands and the products or services they sell? We think devices and people will become increasingly connected with the ability to manage households (did I remember to turn the coffee pot off?) to ordering and receiving new purchases in an instant (hello, Amazon drone) from their smartphones. With all this access, brands will have to work even harder and even smarter to stay top of mind and grab the attention of their hyper-connected consumers.