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June 13, 2015 AT 2:33 am

Quirky ditches device manufacturing @quirky @TheWinkApp @FortuneMagazine by @danprimack

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Quirky ditches device manufacturing.

Quirky is just days away from raising a new round of venture capital funding, Fortune has learned, but the product development company now has a much different business model than it did when it last solicited investors in 2013. Namely, it will no longer make any of its own products. It also may have a different relationship with Wink, a wholly-owned home automation subsidiary that was quietly put up for sale earlier this year.

“There’s a point where it doesn’t make sense for one unprofitable startup to keep funding another unprofitable startup,” explains Quirky CEO Ben Kaufman, in an exclusive interview with Fortune.

Quirky previously lost over $150M, More Quirky coverage here.


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