Robot became synonymous with home robots when it introduced the Roomba vacuum over 20 years ago, eventually selling 50 ...
The loss-making company was once valued at $3.56 billion in 2021, driven by pandemic-fueled demand. It is now worth less than $200 million.
Roomba vacuum cleaner maker iRobot , a former $1.4 billion buyout target of Amazon.com , raised concerns on Wednesday about its ability to stay in business.
Robot just scrapped and replaced almost its entire range of robot vacuums, but amongst the shiny new fleet there's one model ...
Robot warned investors of a going concern to maintain enough assets to operate and pay its debts, and said it has initiated a strategic review of the business.
Its financial situation has worsened since Amazon walked away from its $1.7 billion acquisition of iRobot last year, citing regulatory hurdles.
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