Logitech has got itself into the Kickstarter business, albeit via an indirect route. The company announced today it has acquired Chicago-based studio TT Design Labs, one of the crowdfunding site's many success stories. TT Design Labs is recognized for two unique smartphone accessories, which have raised more than $250,000 in Kickstarter funding between them. The company's co-founders will join Logitech's design teams, while its two products — the TidyTilt and JustMount — have already been incorporated into Logitech's accessory line-up.
The TidyTilt and JustMount are already available for pre-order on Logitech's website
Today, Logitech is best known for its smartphone and tablet accessories, but the company has struggled financially in recent months. In its third fiscal quarter, Logitech posted an $180 million operating loss and subsequently discontinued its "non-strategic products," which included video game console peripherals and speaker docks.
Kickstarter has been heralded for its crowdfunding platform and for helping independent designers and studios seek the funds they need to make their visions a reality. Recent success stories include the Ouya Android gaming console and the Pebble smartwatch. With the public's backing, successful Kickstarter-funded companies are capable of taking on public corporations like Logitech and Belkin, perhaps explaining why acquisitions are very rare. Today's announcement proves Logitech is monitoring innovation in the crowdfunding space and is adapting its business, which may allow it to stay relevant as public demand for inventive new products continues to grow.