Nest Borrows From Phone Companies' Model to Find New Customers
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Nest said Wednesday it has struck a deal providing new customers of the Electric Ireland power company with free smart thermostats and installation. Nest CEO Tony Fadell said he hopes that deal will be just the first in a series of arrangements akin to the free or discounted phones available when consumers sign up for a new wireless plan.
Nest, which Google bought early this year for $3.2 billion, is in the vanguard of the so-called internet of things, a near-future vision in which home heating systems will automatically warm the house before consumers get home from work and refrigerators will order more juice when shelves are looking bare.
But Nest also needs to capitalize on its position before competitors catch up. Already utilities such as Con Ed offer their own versions. Part of Nest’s growth plans will depend on deals like the Electric Ireland partnership, which Mr. Fadell announced at the Web Summit in Dublin, a meeting of digital power brokers, entrepreneurs, startups and developers.
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