Quirky Bid for GE’s Home Appliances

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Aug. 15 (Bloomberg) -- Bloomberg’s Alex Barinka discusses Electrolux and Quirky in talks to acquire General Electric’s appliance business. She speaks with Betty Liu on "In The Loop." (Source: Bloomberg)

Has thrown his hat in the ring in a bid to acquire the ge 122-year-old appliance unit.

For more on this five year startup and whether it has a chance to be a formidable player, i want to bring in alec, who covers the new york tech scene.

Quirky has been a rising star.

They put out front -- crowd fund venture ideas.

Why would they be interested?

A lot of things we have seen are a better charging station, a new air conditioner, this would give them the baseline, a head start on creating products that crowd funded people want to see.

The whole appliance unit might already make the baseline air conditioner, and they can use the patent that exists and, with things of the public wants.

And there is already a relationship between ge and quirky.

They have it cooperation called wink.

They have a smart air conditioner that works on your schedule that you can change with your smart phone.

That is the kind of thing they want to create, this internet of things we are seeing from big players.

Speaking of the air conditioner, we actually had the invest -- the inventor on with us, and ben kaufman, the ceo of quirky came on as well.

I want to play what he said about this relationship.

They have in making a conditioners for something like 80 years and the scale of how many they make is absolutely amazing.

One we found the idea, obviously we already had a relationship with ge appliances.

Some of the base technology, the compressor, the way the air flow works, that was taken from ge's international -- intellectual property and know-how.

We layered on design, technology, the auger is him and the smarts.

X how is this kid going to come up with $2 billion and buy this unit?

They have a little bit of help.

Blackstone is coming in saying they will bankroll this deal if they can get a hold of the unit, and you come up with the smarts.

You can come up with new designs.

What about electrolux and their bid?

You have the old school versus the new school.

This would help them in the same way, but what do consumers want to see?

If this is a crowd-funded thing where people say i want the next smart washer/dryer, we will see how this shakes out.

If quirky were to buy the ge appliance unit, which is not the first time they have tried to sell this unit.

They have shopped it before.

They shopped it around before.

How could that impact the development of quirky and perhaps other tech acquisitions?

Nest creates the changing unit, and google took them over.

Internet of things is the

This text has been automatically generated. It may not be 100% accurate.

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