Wonder how far this will go.
My hunch is that Wink will be bankrupt long before it sees a court date.
Like i said on the other forum, nowhere. What are people going to get out of this. The lawyer will get rich, and the end user will get shafted.
Besides the fact there likely isn't any money to get. This was a double-digit million dollar corporation, and that was two years ago at purchase. (Think it was $40M) Now, it can't be worth much.
And even if people get "the value of the hub" refunded, what is the value of a Wink hub? More than likely they will pro-rate the service you did receive leaving the overall value at virtually nothing.
This situation really makes the demise of Iris seem rather graceful.
I'm not even sure the lawyers are going to make much .....
$39M purchase price + $15M in additional product purchased from Flex. I'm not sure the additional $15M ever happened.
I would think that Flextronics being the largest creditor would get first dibs. And then the employees.
Nothing, but it will MAKE THE COMPANY PAY!!! THEY CAN'T GET AWAY WITH THIS!!!! grumble grumble
(if they aren't already bankrupt long before then, of course)
That is what I was getting out of the many threads on Reddit.
Good job summarizing!
From everything available in public, i.am+ (Wink's parent) is running on fumes. Wouldn't surprise me if Wink ended up being owned by Flex again (who will shut it down).
From the filing "trespassed on consumers’ chattels,"
I hate when that happens
PS My wink has been in a box since I bought Hubitat 1 1/2 year ago. Never could bring myself to sell it and cause the next owner grief.
I know … that really chaps my chattels!!
Sadly, I'm not as principled. Put mine on eBay a couple weeks after setting up my Hubitat. It's also the only tech item I've ever made a profit on. I purchased it for $99 in 2016. It sold for $125 + shipping. The start price on the listing was $75.
May Hubitat should make that part of a ad campaign.
Hubitat Elevation - guaranteed to leave your chattels unchapped.
They can always use that famous David Bowie tune as part of the ad campaign … "Ch, ch, ch, ch Chattles"
I kept checking Reddit 2-3 times a week to see if there was any sign of a resurrection. Oh well
Honestly, would it be better of they just closed up shop and went out of business? I mean I'd be angry too, but at least their giving people an option instead of disappearing off the face of the earth. Do we really think given the COVID-19 crisis that courts are going to start giving judgements to customers upset that a company went out of business??? There are going to be hundreds or thousands of companies that go out of business over the next 2 months.
Case in point. Automatic (parent company - SiriusXM) just shut down completely. All their adaptors are going off line on May 28th. However, they are offering consumers a prorated refund on purchased adapters. I don't think Wink has the money to do that.
Oh wow, hadn't heard they went under too... Sooo many smart home companies dying!
Honestly, I'm not surprised. And I don't think it can all be blamed on Covid-19. The market has not expanded at a rate sufficient to support the proliferation of products in the same category. I mean, really, did anyone expect Best Buy's line of smart home products to get market penetration?