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Toliver

Instant Pot Bought Up by Corelle

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"Instant Pot is merging with the owner of Pyrex"

Quote

The maker of the popular Instant Pot is merging with Corelle Brands, the two companies announced Monday.

The financial terms of the merger were not disclosed. It is expected to be completed during the second quarter of 2019.

Will this be a good thing?

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24 minutes ago, FauxPas said:

 

I saw this earlier and wondered the same thing!   🙂

 

Maybe give them more money for R & D?  

 

Being a Kickstarter(?) campaign, the IP people had an incentive to keep improving the Pot and its functions to spur sales. Will this pattern of product improvement continue under Corelle? Will Corelle care enough to continually improve the I-Pot or will they reach a version of the I-Pot and say "Good enough" and leave it at that?

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pretty flowers will be coming

image.png.778f8d154b2adb05967ef95b1fa4708c.png

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Posted (edited)
19 minutes ago, Toliver said:

Being a Kickstarter(?) campaign, the IP people had an incentive to keep improving the Pot and its functions to spur sales. Will this pattern of product improvement continue under Corelle? Will Corelle care enough to continually improve the I-Pot or will they reach a version of the I-Pot and say "Good enough" and leave it at that?

 

I don't think it's a Kickstarter baby. According to this NYTimes article, it was funded almost entirely by the company's CEO and founder. There doesn't seem to be any lack of enthusiasm for expanding the Instant Pot brand within the original company, and the CEO is staying on, and staying in Ottawa. It seems more likely to me that IP gets access to Corelle's international markets and distribution channels, and Corelle gets another famous line, probably significant additional cash flow, and yes, @gfweb, something new on which to imprint flowers.

 

Disclosure: my partner, @JAZ , has written Instant Pot-authorized cookbooks, but I did not consult her before posting this.


Edited by Dave the Cook (log)
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OMG! 

Yuck!!! sick.gif

This may be a disaster!

I hope it's not ruined like almost all the Corning products have been ruined!

 

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Posted (edited)
3 hours ago, gfweb said:

pretty flowers will be coming

image.png.778f8d154b2adb05967ef95b1fa4708c.png

 

Perhaps you haven't seen this Instant Pot version yet?   🙂 

(not very pretty, in my eyes, but I'm sure some people would disagree)

 

 

Instant Pot Pioneer Woman LUX60 Breezy Blossoms 6 Qt 6-in-1 Multi-Use Programmable Pressure Cooker, Slow Cooker, Rice Cooker, Saute, Steamer, and Warmer

 

Or this one

 

Hero-6.jpg

 


Edited by FauxPas (log)
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maybe I will buy a second one now before they  make any  manufacturing changes....

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3 hours ago, Dave the Cook said:

 

I don't think it's a Kickstarter baby. According to this NYTimes article, it was funded almost entirely by the company's CEO and founder.

 

Dave, thanks for the correction. Which makes the constant improvement of the IP even more admirable. I wonder if the CEO has any say as to whether it will continue to be improved upon at a similar rate now that Corelle owns it.

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3 hours ago, kayb said:

 

More to the point, does it mean your IP will shatter into a bazillion pieces if you drop it?

 

I'm sure it will be fine unless you get it hot.

 

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2 hours ago, FauxPas said:

 

Perhaps you haven't seen this Instant Pot version yet?   🙂 

(not very pretty, in my eyes, but I'm sure some people would disagree)

 

 

Instant Pot Pioneer Woman LUX60 Breezy Blossoms 6 Qt 6-in-1 Multi-Use Programmable Pressure Cooker, Slow Cooker, Rice Cooker, Saute, Steamer, and Warmer

 

Or this one

 

Hero-6.jpg

 

 

 

I'm amazed at how horrifying I find this.

But I do.

 

I suppose you can cook and serve in it.

But jello doesn't need a PC....

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Posted (edited)

this hopefully does not signify that iPots have reached the end of their development.

 

after all ,  for iPot functions , its fairly complete now.

 

I have a spare or two , purchased on deep sale , still in the carton

 

just in case.

 

maybe the iPot Crew is on the way to Bora Bora to join the Anova Crew on the beach ?

 

at least the iPot Crew has not yet promised a Combi-Oven.

 

if they got a big pay-day , its one they truly deserve.

 

so the answer to what's next for iPot might be determined by how much money the iPot team it

 

taking out of the new combined team.


Edited by rotuts (log)
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CNN quoted the Wall Street Journal as reporting that the deal was worth $2 billion dollars.  Also, it seems 20% of American households own one.

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if the iPot crew ends up w 2 Big Bills

 

I salute them as the iPot is truly a wonderful easy to use kitchen item.

 

I now make stock , when I have bones etc   so easy to do , ever 2 x  , 3 x , 4 x.

 

I do a lot of pressure steaming veg , esp potatoes , beets , and eggs.

 

and have these items chilled and ready in the refit for this and that.

 

so congratulations , iPot team.

 

hopefully the various Dot.Gov's leave them all w at least a but of small change.

 

I suspect , the newer iPots might not be as ' sturdy ' and the current crop.

 

I have no information to support that 

 

but BibBiz these days has its eye on stock price , and CEO compensation from that stock price.

 

far more often than not.

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NY Times article - I hope the emphasis on growth and expansion doesn't preclude innovation! 

 

https://www.nytimes.com/2019/03/04/business/dealbook/instant-pot-corelle-pyrex.html

 

Quote

 

Mr. Wilkes [Corelle's chief executive] will be the chief executive of the combined business. Mr. Wang’s title will be chief innovation officer. Instant Brands will keep its headquarters in Ottawa.

Although Instant Brands has already expanded its product lineup (its website lists 30 multicooker models, an immersion

circulator for cooking food using the sous-vide method and a blender that also cooks), combining with Corelle will give it the ability to expand internationally, Mr. Wang said in a statement.

“We are thrilled to partner with a global market leader in Corelle Brands as we look to embark on our next chapter of strategic growth and expansion,” he said.

 

 

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Realistically they're probably nearing "peak IP" in the US/Canadian markets, so international expansion is an obvious next step. One or another of their new/upcoming products may yet be a solid hit, if not at the level of the IP itself, which in turn could be rolled out through the international channels once they're established.

 

As far as that goes, if the marriage proves disappointing, it's not at all unknown for acquisitions to be spun off again into standalone companies.

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@FauxPas

 

thank you for the NYT's article

 

my copy is still bundled up in plastic

 

lets see what happens.

 

I view it in a particular way

 

based of Big Money These Days

 

more for them

 

less for us

 

I hope Im wrong

 

but we will see

 

the internet , has its fine uses

 

but

 

it can really fluff its self out

 

not just w '' fake news "

 

but 

 

manufactured 

 

" we are so thrilled "

 

your bank managers are more thrilled than you are

 

and that's their roll

 

not to take on any Kudos the iPot Team rightly deserves.

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