Smart Lock Maker Suspends Operations
Wednesday, January 03, 2018
Otto, a smart lock maker, has suspended operations. Sam Jadallah, the firm's CEO, announced the suspension just before the Consumer Electronics Show (CES). TechCrunch reported:
"The company made the decision just ahead of the holidays, a fact that founder and CEO Sam Jadallah recently made public with a lengthy Medium post now pinned to the top of the startup’s site... Jadallah told TechCrunch that the company’s lock made it as far as the manufacturing process, and is currently sitting in a warehouse, unable to be sold by a hardware startup that is effectively no longer operating... The long and short of it is that the company was about to be acquired by someone with a lot more resources and experience in bringing a product to market, only to have the rug apparently pulled out at the last minute..."
The digital door lock market includes a variety of types and technologies, such as biometrics, face recognition, iris recognition, palm recognition, voice recognition, fingerprint recognition, keypad locks, and magnetic stripe locks. Consumer Reports rated bothh door locks and smart locks.
Several digital locks are available at online retail sites, including products by August, Brilong, Kwikset, Samsung, and several other makers.
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