💨 Abstract

iRobot, founded in 1990 by MIT roboticists, filed for Chapter 11 bankruptcy after 35 years. Known for the Roomba, it raised significant funding and went public in 2005. A planned acquisition by Amazon in 2022 fell through due to regulatory issues. The company faced declining earnings, layoffs, and a takeover by its Chinese supplier, Shenzhen PICEA Robotics.

Courtesy: Connie Loizos