iRobot filed for bankruptcy: How the Roomba maker got here

Core Insights - iRobot, known for its Roomba vacuum cleaners, filed for Chapter 11 bankruptcy protection due to financial struggles and a failed $1.4 billion acquisition deal with Amazon [1][22] - The company, founded in 1990 by MIT roboticists, initially focused on military and space-related robots before achieving consumer success with the Roomba in 2002 [4][12] - iRobot's annual revenue peaked at $1.56 billion in 2021 but has since declined due to increased competition from lower-cost rivals [19] Company History - iRobot was established by Colin Angle, Helen Greiner, and Rodney Brooks with the vision of making practical robots a reality [4] - The company gained prominence with the launch of the Roomba, selling over 50 million units globally [12] - iRobot went public in 2005, with its shares trading on Nasdaq under the ticker symbol IRBT [15] Financial Struggles - Following its peak revenue in 2021, iRobot experienced a decline in sales, attributed to competition from brands like Dreame, Roborock, and Ecovacs [19] - The failed acquisition by Amazon, which was intended to strengthen iRobot's market position, fell through due to regulatory issues, leading to significant layoffs and the resignation of CEO Colin Angle [22][31] - iRobot expressed "substantial doubt" about its ability to continue operations in a March 2025 earnings report [26] Bankruptcy Filing - iRobot filed for Chapter 11 bankruptcy on December 14, 2025, and plans to be acquired by its primary contract manufacturer, Picea Robotics, through a court-supervised process [31] - The company aims to maintain normal operations and ensure continuity for consumers and partners during the bankruptcy process [31][32]