News.org.au | PARKERVILLE, Victoria — The Australian investment bank has announced plans to roll out a massive online marketplace to bring its business model to the world of internet of Things (Iot).
The new business model will be the first of its kind to deliver a competitive product and a high-quality product at a reasonable price.
In its statement, Dewalt said its online marketplace would offer more than a single product.
“The world is in the midst of a transformation of how consumers use and interact with digital products,” it said.
Dewalt said it was creating the marketplace because its core business was growing rapidly and needed to make the right strategic decisions to remain competitive.
The company has also launched a mobile app to connect customers to a global customer base.
At the launch event, Dewalldep CEO John Burdick said the marketplace would bring the firm’s business model into the 21st century.
Burdick told investors the company was investing $2 billion into the platform, and the company had signed a memorandum of understanding with global technology provider Gartner.
It is the first time a company has taken on the responsibility of building a market in which the customer is part of the equation.
While the company did not name the products it was launching, it confirmed it was offering a range of products including the Nest thermostat, SmartHome thermostats, and HomeKit, the connected home devices.
This was Dewalaldep’s first foray into IoT.
With its platform, Dewaldep said it could “discover new markets that are less likely to be explored by established players” and create new opportunities to drive growth for its clients.
But it is the future of its business that is most exciting, it said, noting it was working with its customers to build their own products.
More:Dewalaldp is also working with a number of local government bodies and businesses to develop a range “of products that are going to become part of your everyday life,” it added.
However, there were no details on pricing for its products.
It is unclear if Dewalaldeep’s business plan will include a return on investment or what the company’s expected annual revenue will be.
Investors were quick to note that the business plan is still in its early stages and Dewaladalep said the market was not yet ready to discuss a full-blown business model.
What does the Dewalt marketplace look like?
Dewaldalp said it would initially be launching a range with a mix of home appliances and smart home products, including the thermostatic and smart smoke detectors, but it would also offer products for the internet of the home, fitness and health.
A Nest thertopat, for example, will be on sale at the launch.
The company said the company has already received interest from businesses and other organisations interested in selling its products through the platform.
Its first product, the Nest Smart Home thermostatically controlled smoke detector, was recently named the 2017 Product of the Year by the Australian Business Review.