DIY home security option makes way into marketplace
Cove is a Utah-based startup offering the first professional home security solution with the flexibility of do-it-yourself technology that recently opened its doors. Designed with simple, do-it-yourself installation and technology, Cove is targeted at the 75 percent of American households without a home security system.
“Cove is transformative and disruptive. We’re changing the way home security is done. In an increasingly dangerous world, we have made it easier than ever for homeowners and renters to protect their family and property,” said Robert Shelley, president of Cove. “DIY consumers want systems to be higher quality, easier to install, more effective, and to have the benefits of professional monitoring.”
Founded in early 2018, Cove hopes to answer a lack its founders saw in the home security industry. According to a Cove press release, they believe traditional security companies provide effective, reliable home security but are expensive, and lock people into long-term contracts. On the flip side, DIY systems tend to be much less expensive, but are less effective and reliable, can be confusing to install, and lack features. Cove’s goal is to offer consumers all the benefits of a professional home security system with the price and flexibility of a DIY system.
Qualtrics files for initial public offering
Qualtrics, the Provo-based company that features an experience management platform, quietly announced its plans to raise $200 million in an initial public offering sometime in the next few weeks.
The Utah company, believed to be worth $2.5 billion, filed with the Securities and Exchange Commission Oct. 19. According to a Business Insider report, the company will be listed on the NASDAQ under the ticker “XM,” which is a reference to its experience management platform.
Qualtrics had sales of $280 million in 2017 (with a net profit of $2.5 million), while it produced $194 million in revenue through the first half of 2018 (with a net loss of $3.4 million for the period).
The S-1 Filing with the SEC is available at https://lnkd.in/gvmSdMN.
Old Ancestry.com headquarters changes hands
Colliers International announced the sale of The Park at Riverwoods, the former headquarters for Ancestry.com. Terracom, a phone service provider purchased the property, and is upgrading the property, comprised of two buildings and nearly 120,000 square feet of office space on about nine acres.
“This is a landmark transaction in the Utah County office market,” said Brandon Fugal, chairman of Colliers International Utah. “With various notable transactions taking place throughout the area over the past few months, the region is well-positioned for continued expansion.”