TrackR Lays Off 42 Staff Members

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In an article on TechCruch, sources say that TrackR has laid off 42 of it's 90 employees. The company, known for making bluetooth tracking-devices for things like wallets, keys, and luggage lists just over 90 emplyees on Linkedin, including investors and board members, while PitchBook notes 35 employees, meaning that this could be more than half of TrackR’s staff. TrackR raised $50 million in August after getting valued at $201 million.

While a great concept, I had honestly forgotten they existed, perhaps some of that $50 million could have went to advertising. And while I see it being a useful product, at $30 each, seems a little much for a gadget like this.

Smith, the co-founder, has also spoken in the past about the company’s ambitions to go beyond its existing tracking of smaller items based on Bluetooth and mapping. One idea, he told me in November last year, was to expand to more enterprise applications, for example measuring and “tracking” how machines are working in factories using diagnostics connected to soundwaves (machines humming differently when they are broken versus when they are working) and other details of this kind.
 
TrackR raised $50 million in August after getting valued at $201 million.
They raised 50 mil for a bluetooth tracking device? These things sell for a few dollars on aliexpress.
 
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I guess these would be useful in metro areas. They are of no use here in the boonies.
 
I had something like that (my truck came with only one key and I'm cheap I refuse to spend $200 for another one). It lasted a couple of weeks. Good idea but I'd want something bullet proof. Distance isn't the problem as I only lose the key in the house, it's quality that's a problem (the thing is in my pocket most of the time). I often wish they would build this into remote controls with a button on the TV (or whatever) to cause the remote to beep.
 
It doesn't read like a bad product at all.
I was about to buy it a while ago, but I found it too expensive.
Last I read battery was user-replaceable, which was cool.
The app just doesn't look for something in proximity, if you lose it completely but the object is close to OTHER people with the app, it will report back the location via their app to you.. you know mesh network style I guess.
Its just the price for me, 10$ is my target, I don't know if they can make money with that low a price though.
 
The fundamental problem is that if you are the type of person to forget your keys you probably won't take care of batteries in your tracker, and if you would take care of your batteries you probably also don't leave your keys in random places
 
The fundamental problem is that if you are the type of person to forget your keys you probably won't take care of batteries in your tracker, and if you would take care of your batteries you probably also don't leave your keys in random places

Wrong.
 
I've got 4 of these, bought a 4 pack last summer through Amazon during one of their big sales. I bought it over the Tile because I liked that the batteries were replaceable, they were smaller, and they were quite a bit cheaper due to the sale. The batteries supposedly last for around 6 months or so.

The reason I bought them was not so much to find things lost outside of the home, but to find things inside the home. The wife tends to misplace the checkbook and her Kindle on a regular occasion and has a tendency to move my keys without telling me to a place that makes sense to her (but not to me). In a 1650 sq. ft rancher style home, the range is pretty good. I wish the volume on the chirper was a little louder, but at least it lets me know if I am getting closer or farther based on signal strength. What I don't like about it is that I can only pair the Trackr to only one phone at a time. So if my wife is trying to search for checkbook, we have to use my phone since it is paired to it and not hers.

It hasn't been used much, but it has come in handy the few times that we needed to find something.
 
This tech is built into bluetooth, nothing is stolen. Copying maybe but that's what you get when you don't have patents.

How do you know they didn't? Anytime anything is popular is is reverse engineered and reproduced very qiuckly in China and sold a ta lower price because they are bypassing all the costs pre-production. Unless you have a product that will generate enough revenue to support an army of lawyers you might as well assume that you will get fucked by copycats and the consumer in short order. But the average consumer doesn't give a fuck as long as what they get is cheap.....except when it negatively impacts them.

Note: I have nearly 5 years in China in various aspects. Their policies fundamentally respect $ and not the stuff crated between your ears. You could spend your life finding the cure for cancer, do it, and walk away with only debt.
 
I use the TrackR Bravo and it is pretty good. I put it into my car and it is still detected when all doors are closed and I'm about 5m (15ft) away from it.

I think that it must be noted that battery replacements are absolutely free.
I live about 7 timezones away and still get them free, just takes more time.
 
If they only had 90 employees including all of their investors and board members, and just axed half of them, is there anyone left to do actual work at the company?
 
For the last 3 years, I have purchased Tiles (basically same thing as Trackr). One guys on my wife's keys - she misplaces them all the time and I'm expected to help find them (WTF - I am OCD so put mine in the cupboard on the key holder every time.) . The rest go on TV remote controls. Between the wife and kids, we are always losing a freaking remote. I get beyond pissed when I want to watch TV and can't find the remote.
Similar note - I read that Tile had depressed sales. They laid off a substantial amount of their staff as well. These devices are kind of expensive and niche.
 
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