Tuesday, January 2, 2018

Smart Lock Maker Otto Flames Out, Before Shipping A Single Lock

San Francisco-based "smart lock" maker Otto said over the holiday that it is shutting down the company--even before it has shipped its first lock. The company, which just launched with a fancy launch video in August, had said it was creating "the world's most advanced digital lock". The startup blamed the shutdown on a public company which it said approached the company about an acquisition but then told the firm that "they would not complete the acquisition nor revisit" an earlier investment proposal.