“Nestify” has become a word to rival “Uberization” for the internet of things industry

2 Comments

“Uber for x” is now ubiquitous in the service industry, with new companies attempting to transform the mundane with an on-demand approach. A wide swath of categories, from house cleaning to laundry, have followed in the black car company’s footsteps.

In the internet of things, there’s a similar model company – smart thermostat maker Nest. Michael Simon, the CEO of connectivity company LogMeIn, which owns internet of things platform company Xively, explained that he hears companies say they want to “Nestify” their product.

“What does that mean?” Simon asked Tuesday at Gigaom’s Structure Connect conference. “I think people are saying, ‘We want to take an existing well-established product and suddenly transform it into a genuinely great business.’” Companies are looking for new ways to lift their revenue. Adding a service layer or increasing the reliability or functionality of a device can be the way to do that.

As an example of a “Nestified” product, Simon referenced New England Biolabs connected refrigerator. It’s almost like a vending machine full of enzymes for scientists in labs doing testing. Because the fridge is “smart” and transfers enzyme use data back to New England Biolabs, the company can preemptively predict when scientists will need more. “Is it making it cheaper?” Simon posed. “Not necessarily, but it’s guaranteed reliability of the right set of enzymes.”

Maybe Nestification isn’t so terrible after all.

Photo by Jakub Mosur

Structure Connect Ticker

2 Comments

Comments are closed.