Wyze

Wyze, which was co-founded by a trio of ex-Amazon managers, sells an ever-growing range of smart home products, from cameras to speakers, vacuum cleaners to lighting. The company has made its name by providing these products at considerably lower prices than its competitors.

• Founding Value: Be Friends with Users. At its core, Wyze is rooted in relationships. People, yes — our customers, employees, manufacturers, shareholders — but, more importantly, the connections between us and our people, our mutual expectations and shared history. We want people to be their authentic and whole selves and be open and transparent, in all of our hopes and habits, our flair and our flaws. We want to trust and be trusted. We want to listen and be heard. We honor and embrace diversity. At Wyze, when in doubt, begin with, “What would I do if these were my friends?” Because they are.
• Founding Value: "Too Good to be True". The phrase “too good to be true” came to us out of a review for Wyze Cam v1, our very first product launched in 2017. More than five simple words from a glowing review, it became a manifesto: a perfect, unexpected distillation of everything to which we aspired. With every product and service built after that, with every opportunity to engage with our employees, candidates, and shareholders, we have a new record to break, a new benchmark to set, and a new unique experience to create. We are driven daily by the challenge and excitement of making the impossible possible, putting creativity and thoughtfulness into every detail, every step of the way.
• Operating Value: Maximize Every Component. If you’re gonna be a fresh startup that treats all its customers and employees like friends and strives for too-good-to-be-true products, something’s gotta give. In those early days, that meant we didn’t always have access to premium components or the biggest factories. We had to be resourceful and creative, to maximize components with innovative software, to scrap for every angle and advantage. Even as our resources and possibilities grow, it’s essential we stay connected to the mindset that got us here. We remain focused and frugal. We continue to search for ways to drive down costs, all while building incredible value.
• Operating Value: Move with Incredible Speed. As companies get bigger, they can slow down with bureaucracy and red tape. We must fight this at all costs. We enable employees. We know the difference between two-way and one-way doors. We learn from real-world experience and iterate quickly so we don’t miss opportunities to delight. If you ever feel like you are doing something that might be found in a Dilbert cartoon, stop what you are doing, fix the process, and do what's right for users in the straightest, simplest path possible.
• Operating Value: Be an Entrepreneur. We started out as a group of entrepreneurs with a simple passion: to provide a smart home camera at an extreme value. The values described above are simply our attempt to isolate and describe those scrappy, decisive aspects of entrepreneurialism we find most fundamental to our past and future success. This is the last: everyone at Wyze should be an entrepreneur. Everyone should channel that same tenaciousness about the outcome and ownership of the process. Take risks. Drive to solutions. Be rewarded for finding and solving problems. Think like an outsider and an owner—like our customers—to stay innovative, hungry and invested. Our true reward comes when value is created, not just when the job is done.

Total funding: $145m