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And time for new ideas our weeklong look at people and companies make and money.
On innovation robots taken over more functions and industry hospitals homes and joining us the head of the company set to profit from all it.
IRobot co-founder and CEO Colin Angle.
-- -- Charles -- is here and -- recommended stock in the past on this show but one wonders is -- getting too -- so -- -- -- start with Colin Angle thanks for being with us.
Now the robot which we all love and I love those -- we have people doing the robot -- -- might be background and high school -- Jerry -- we're gonna they've sold yet you sold nine million of these things in a decade and it's 90% of your revenue from my understanding.
So yet right now you're going into an entirely new market.
Four in the workplace kind of telepresence robot tell us about a -- Right so -- is designed to address the issue of I want to attend the meeting but I don't want to travel there and I don't want to sacrifice.
In the experience and so what we've done is build you.
So we're trying to create a system.
Follow -- you're able to attend that meeting the people in the room with the robot.
Have an experience as powerful an impact -- as if you were standing there.
Making your pitch you're giving your impassioned.
And how could be the impact the same and of course from your perspective.
You're able to -- everyone's reactions.
And so this is very cool high tech stuff that allows professionals to work at a distance.
As part of -- longer term mission of allowing.
Professional services to be deemed anywhere in the world wherever they're needed -- it real.
He is and neat idea but what it cost 2500 dollars a month to lease or maybe 70000 dollars a year and that that cost.
Colin -- why shouldn't employ just get off the sofa and going to work.
Well they you know this is for an executive and -- case 2500 bucks a month that's less than one.
Airplane should take it to go so that this is.
-- very affordable.
As long as.
That experience of being in person -- and so we partnered with Cisco.
The world leader in and telepresence.
I think make sure that the audio and the video is high Def high audio.
The the executives can just basically answer the question where do you want to be.
And the whole system lights up with the system deployed sitting around the table.
And again the experience is what is critical -- I want okay justify not getting on the plane.
That's what you -- I just wonder what happens when a guy decides he wants -- robot to be in the women's restroom let's go to Charles Payne who was an early -- commander your stock.
You recommended the -- and around January I think where was that verses that January 2 at twenty bucks February 6 to 23 march 12 -- 23 and then again mart's one report the twentieth it's -- now what's that.
I think worried 35 bucks nice so yeah you know I got to tell ya -- -- -- -- -- commend you because.
The -- kind of -- you guys office -- wars are winding down a lot of articles January 2012 -- stock -- every once said there's no way you -- gonna make it.
And to that point -- defense revenues were from 187 million to fifty million.
But to dinner at this point -- -- -- investor presentation you said.
Or or in said that enhance rigor around resource allocation listen you guys were born out MIT.
You'll love -- do research you loved it a bit -- but there's also Wall Street likes to make sure you gotta make a profit on these things.
How do you assure Wall Street -- after this huge run and a stock that you're gonna keep this going.
You know our backlog is better than it's ever been you know we have.
Resources and and -- world class team.
That focus is not just -- -- invent things but also inventing practical solutions that's why room does work.
That's why the -- -- was the only robots in the world that was the trusted to go and the Fukushima reactor.
And that's why this -- 500 robot.
Is going to deliver the goods and get people off the plane.
Using this technology so my commitment.
Is that this is these are real deal solutions.
And that as -- company.
We're going to grow but we're gonna grow profitably.
All right thanks very much for being with us today -- angle and good luck with a lot.
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