The US tech sector fell sharply during the month of May after U.S. regulators announced they would pursue antitrust action against large technology companies. The big FAMGA, specifically Facebook (ticker: FB), Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), and Amazon (AMZN) shares dropped off the cliff. Additionaly, Alphabet (Google’s parent company) is still unable to rise out of the valley as investors continue to worry about the large size of fines that Alphabet will have to pay, and the enormous impact it will have on its operating income.
In the early days, iRobot developed Genghis™, a robot designed for space exploration. In 1997, the company designed “Sojourner” for Mars exploration due to request from NASA. Since the introduction of its Roomba® robot vacuum cleaner in 2002, iRobot has sold more than 25 million robots and become a leading global consumer robot company with strong revenue growth over the past decade.
The company was established by CEO Ari Emanuel in 1995, and
since then the company has made dozens of acquisitions, including merging with William
Morris Agency (WMA) in 2009 and acquiring IMG in 2014 to form this global
leading entertainment agency Endeavor.
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