More often than not, the best growth and disruption opportunities can be found in some of the most unexpected places. We get so hung up studying our direct competitors that we completely lose sight of a potential marketplace newcomer who isn't just out to protect the status quo. I find it's best to look beyond your obvious competitors and consider what's going on in adjacent markets. I recently had an opportunity to do just that and it resulted in me advocating and leading the due diligence for an equity stake in a very exciting startup.
This particular startup, Biblezon, produces Android-powered tablets with models for adults and children. One of the cooler aspects of the latter is that there's no browser on the device, so you can safely give it to a child and never worry that they'll end up on an inappropriate website.
Our company isn't in the hardware business but we do produce a lot of content every year and we have a rich, deep backlist of timeless material. Biblezon and their tablets represent an entirely new distribution channel, one that we can help develop. We're only in the very early stages of this partnership but I'm excited to see how we can work together, as adjacent businesses, to extend the reach of both organizations in the years ahead.
Biblezon is definitely an adjacent business for me but it's not the only one I'm currently exploring strategic alliances and financial investments with. I'm fortunate to work in an organization where we recognize the fact that plenty of innovation and disruption happens outside our four walls. That's why it's so critical to look beyond the usual list of competitors for inspiration.
What would a short list of adjacent businesses look like in your segment and what are you doing to explore ways of working with them?