Logitech buys Kickstarter veteran TT Design Labs
A lot of companies have gotten their start through successful Kickstarter projects, and apparently this hasn’t gone unnoticed among the larger accessory companies out there, as Logitech just announced that it’s bought TT Design Labs. TT Design Labs has had two successful Kickstarter projects, the TidyTilt and JustMount, both magnet-based accessories. These two products are already available as Logitech products, and I’m sure that the team will help shape future Logitech products.
This acquisition is interesting for several reasons. First off, it shows that tiny companies that often just comprise a few friends with a good idea are suddenly making enough of an impact on the market that it’s noticed by the big companies. This isn’t really surprising, since companies like Belkin and Logitech themselves haven’t really done anything interesting for as long as I can remember. Sure, they put out decent products, but it’s always a matter of mass producing certain typical accessories rather than trying to come up with something unique. I think that such companies can benefit greatly from the creative minds of Kickstarter project creators, as long as they’re allowed to continue to innovate after the merge.
Second, the choice of company to merge with is rather weird. I’m not saying that TT Design Labs’ products aren’t good, but as far as what I’ve seen on Kickstarter in the last couple of years, it wouldn’t even make it to the top 25 list of companies to acquire if I were in charge. We already know that Logitech has the means to acquire larger companies, as it did when it bought Ultimate Ears, so going after TT Design Labs is a bit odd. Then again, it may have tried to acquire other companies that have refused.
Finally, I’m not sure if this is a good thing for the products’ reputation. For product sales, definitely, but reputation? I don’t know about anyone else, but I’m personally less likely to buy something labeled Logitech than I am anything else. I own several Logitech products, and I’m generally satisfied, I just think Logitech is a “grocery accessory” company; a company that makes the kind of accessories you buy because you need such an accessory and Logitech products are easy to find. Just look at how it took a brand known for the best professional IEMs on the market and slapped it on some random Bluetooth speakers available everywhere.
Either way, it’s an interesting acquisition. I have to wonder if this is just the first of many, both from Logitech and other companies. Especially if these companies can bring some of their funding to Kickstarter projects that failed to meet their goals, but are still good ideas.
[The Verge]
