GE will expand its partnership with Quirky, and the two companies will co-develop and launch 30 new products in their connected home devices line in the next five years. GE plans to develop several premium countertop appliances that will operate on Quirky's WINK control platform, which lets consumers access the connected devices anytime from mobile devices.
Co-branded WINK-enabled products will continue to be developed by Quirky's global community of 600,000 inventors through the company's collaborative platform.
The latest announcement expands an existing partnership, announced in April, which released four holiday products to major retailers on November 4: Nimbus, Egg Minder, Pivot Power Genius, and Spotter.
As part of the expanded partnership, GE will take a minority equity stake in Quirky with an investment of $30 million, plus in-kind services, to drive faster innovation and scale in what it expects to be a $25 billion connected devices market. GE will help promote the products, support the WINK platform, and develop several premium countertop appliances.
"In just six months, our two companies have created a $45 million connected consumer business that we will continue to build on," said Ben Kaufman, founder and CEO of Quirky. "Our vision is to make the WINK platform the consumer standard adopted by all manufacturers of connected home products. The opportunity to lead is now and together we want to empower the entire ecosystem, from the inventor to consumer and manufacturer to retailer."
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