First things first: I am not going to go into too much detail about all the companies we visited. Let’s be honest #aintnobodygottimeforthat
I will share with you what has struck me the most, has been the most interesting or the most fun. I’ll also include a tech tweet and the buzzword of the day. Just for fun 🙂
Our day started at Alex’s office with a quick presentation on how things run in the valley, some facts and explanations on terms that might come in handy during the week.
With over a billion US dollars raised by Crowdfunding they sure know a thing or two about how to empower people.
Their business strategy is to further differentiate with the ultimate goal to offer a complete service for innovators: starting from the idea up to managing retail of the products.
Exciting things to look for at Indiegogo: Offering digital marketing in-house and Crowdinvesting.
PS.: Cutest office dog 😉
„There are no mergers.“
After a short presentation on the company’s values we got to know what Microsoft is looking for in Startups and how they can assure that an acquisition is successful.
- You need to have a corporate sponsor that is backing the acquisition 100 %.
- Protect the value drivers. Stay focused on what you do best and where you create value.
- Enhance what you already have (most of the acquisitions at Microsoft).
- Acquire companies that produce tangible products.
- Acquire Startups in a (at least for you) new market.
We then got to know someone from SwiftKey wich has recently been acquired by Microsoft.
SwiftKey is a AI keyboard that is able to learn from what you type. It will get to know what words you use most, in what combination and then help you type faster or even finish the sentence for you. Sounds fancy? Guess what: Samsung is already running SwiftKey’s backend on millions of phones worldwide. The ultimate goal is to understand language by machine learning and analyzing big data.
Probably the most exciting part for me personally as I not only own a GoPro myself but also wrote my bachelor thesis on a stealth marketing strategy for a complementary product for GoPros.
Let’s be honest: I loved it. Hard working but laid back people, no button up shirts, loads of extreme and action sports and most important – passion.
But with more than 1.700 employees worldwide and loads of competitors, I must admit that they tend to think they might be too big to fail. I was concerned that they would think they offer a full ecosystem around the camera, not just the hardware. That might be true in some parts, such as the mounts that are delivered with the camera or the App to view and edit the videos. BUT there is so much innovation out there, looking at mounts like Grillmount or Gimbals, and sadly GoPro is not on top of that innovation. And don’t even get me started on VR Rigs like Freedom 360 and stitching software.
We’ll see if GoPro can manage to be innovative again. Either through better acquisitions or in-house programs, but only time will tell.