Published via Inbox: 2013-05-07 13:06:04
GE said it will use its 10 percent stake in the nascent Pivotal Initiative to bolster its industrial internet push. The Pivotal Initiative, the big cloud and big data startup backed by parents EMC and VMware, now has another big, scary backer: General Electric is ponying up $105 million for a 10 percent stake in the company.
My Two Cents
GE says it is using its role in Pivotal Initiative to bolster its Industrial Internet push: what does that mean? The answer is quite interesting. For GE its about using the Internet's connectedness to enhance household appliances, medical devices, and all of the other industrial products offered by GE. Can you imagine the Big Data that could be aggregated by monitoring household devices? Now for the kicker, Pivotal Initiative is already a 1,250 employee company and generating over $300 mm in gross revenue.
