Dropcam Founder and Ex- CEO Expresses his Remorse on the Sale
Greg Duffy, the founder of Dropcam sold his company to Nest for $555 million in 2014. But recently he publicly expressed the seller's regret.
On Tuesday, Duffy, the home monitoring camera company's founder wrote in a note posted on Medium regarding Nest CEO Tony Fadell. His note stated that he was "compelled to set the record straight" following negative comments made by Fadell about Dropcam's employees who eventually worked for Nest after the deal.
Duffy said Fadell's criticism which said that "a lot of the employees were not as good as we hoped" is extremely insulting for the team of Dropcam and should be considered "blatant scapegoating."
He said, before Dropcam was acquired, the company was heading to a record year of record sales. It had huge merchandising demand from big brick-and-mortar retailers and also had a 4.5-star rated bestselling camera on Amazon. The company had innovative new products that were on their way to launch and had most of its financing in the bank. He also added that "Our investors and team actively didn't want to sell." But them what made him sell was left to be explained another day!
New Zealand News
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