On Wednesday night FitBit announced its official IPO price of $20 per share. The IPO raised $732 million for the wearables maker, valuing FitBit at $4.1 billion. The stock then opened Thursday morning at $30.40 per share, raising that valuation to $6.3 billion. The stock closed Thursday trading at $29.68 per share, a 48% increase from its IPO price.
As I discussed in my Consumers Rule! column, Pam Sweeney, Macy's senior VP of logistics systems, and I were on an RFID panel about omnichannel retailing at the National Retail Federation conference in January. I spoke about the value of seeing the "last unit." Pam said, "it is not the last unit, it is the single unit."
The next big battle for tech giants is in the realm of the “Internet of things,” which is an industry buzzword used to describe the way all our home gadgets and appliances will soon be connected to the web and will be able to communicate with one another.
In the cult 1970s television show, The Six Million Dollar Man, astronaut Steve Austin (played by Lee Majors) is shown crash landing on Earth, then being whisked into a hi-tech operating theatre. “Gentleman, we have the capability to make the world’s first bionic man,” intones the narrator over the opening credits. “Steve Austin will be that man… Better, stronger, faster.”
Today, you don’t need $6m to be Steve Austin, not when £60 will buy you an entry-level wristband from Fitbit that can monitor your workout routine and send you reward “badges” to keep you motivated 24/7.
It’s the sad but consistent rule of technology that all cool future inventions must be given really terrible, confusing, complex and obtuse names.
The first time electronic products like washing machines and dishwashers got their own brains and were able to figure things out for themselves, the name given to that technology was Fuzzy Logic.
The first time computing and storage power was taken offsite and made available from a remote location, the simple name it was given was Cloud Computing. This was heralded as the new technology that would change the world.
We are all very caught up in the “Internet of Things” phenomenon. There isn’t a day goes by when we don’t see an article (or sixteen) on the topic. We see statistics quoted here there and everywhere about this is going to/already is affecting our lives, yet almost none of these articles seems to see the big picture.
When data sources from a wide range of Internet of things devices are combined and analyzed, a broader and deeper understanding of the world, and humans, ensues.
One of the inescapable realities of today's technology is that what seems like science fiction one month or year is suddenly mainstream IT a few years later. Travel on the Wayback Machine to 2005 and it's clear that smartphones were mostly dumbphones, clouds were still relegated to the sky and big data was anything more than what a DVD holds.
With the promise of limitless applications, the Internet of Things has commanded the attention of developers and tech professionals alike. In fact, Google just announced that its new Brillo operating system is designed specifically to position Google as a key player in this burgeoning field. Brillo could help business users harness the Internet of Things with next-generation devices. But how can developers join the movement now?
Phil Smith, 57, is chief executive of Cisco UK and Ireland. He read microbiology at the University of Glasgow before joining Philips as a computer programmer. After a stint at IBM he was headhunted by Cisco in 1994, rising to become chief executive officer in 2008. He is also chairman of Innovate UK, which supports and connects innovative small businesses, and the Tech Partnership, a network of employers inspiring and assisting young people into careers in technology.
We are celebrating our 10th anniversary this year and as far as we know we are the oldest summer school on IoT in the world. Not bad, ha? To mark this occasion we plan to prepare even more exciting educational program - and social activities as well.
Providing a common language to enable faster Industrial IoT (iIoT) development and a blueprint for standards development, the Industrial Internet Consortium (IIC) has introduced an Industrial Internet Reference Architecture (IIRA).
Talking at the Industrial Internet Berlin Forum today, the organisation said the document offers a common language for the elements of Industrial Internet systems and the relationships between them.
From a product standpoint, the so-called Internet of Things or IoT is in its infancy but, if some prognosticators are correct, it's poised for enormous growth over the next couple of decades.
Intel put the size of the IoT market at 2 billion devices in 2006, 15 billion in 2015 and an estimated 200 billion by 2020 — less than five years from today. IDC predicts that Internet of Things spending will reach $1.7 trillion by 2020.