Weather New York, NY +84°F

Regions

General Electric Mocked Startups, Proclaimed Itself as Tech Company

Close
(Credit: Luke Sharrett/Bloomberg via Getty Images) The General Electric Co. (GE) logo is displayed inside a test tunnel at the GE Aviation Test Operations facility in Peebles, Ohio, U.S., on Tuesday, April 14, 2015. General Electric Co. (GE) is scheduled to release earnings figures on April 17. General Electric Co.'s Aviation Test Facility Ahead of Earnings Figures
February 29
9:16 AM 2016

GE have been trying attract tech workers to join the company. In its new advertising to be aired during Oscars, GE mocked the startup companies and proclaim itself as tech and industrial company.

General Electric was formed by Thomas Edison in Menlo Park, New Jersey. As a prolific inventors, Edison holds 1,093 US patents, consist of 1,084 utility patents and 9 design patents in his name.

Thomas Edison founded the company in 1879 based on his invention, exactly the same spirit in today's tech startups. In its journey, the company shifted gear from innovation company into industrial company.

GE became public company in 1892. The company was the only surviving company from the original list of th first 12 companies listed in Dow Jows Industrial Average (DJIA), which was formed in 1896. Other companies are either dissolved, acquired by other company or broken up.

However, the new generation of tech companies have become more attractive working places for tech workers than industrial company like GE. While companies driven by innovation such as Facebook and Google has replaced GE as blue chip company. Therefore GE must work hard to gain attention and established itself as tech companies in order to be relevant in the present time.

Mashable reported how GE wanted people to think of it as a tech company. The company launched its commercials, which to be aired during the Academy Awards ceremony, mocking startup companies. The ad is the continuation of last year's advertisement which depicted live of a GE programmer.

GE claimed the last year's ad which aired in summer is efficient to boost the number of job applications beyond expectations.

In the move to strengthen its positioning as tech company, GE has begun to relocate its headquarter to Boston, closer to the heart of innovation in East Coast. With its thick cluster of colleges and universities, Greater Boston has startup culture. CEO Jeff Immelt told Boston Globe regarding the relocation, "The only way to survive when you've been around 140 years is you've got to be constantly thinking about what the next iteration is. We really felt like the company was changing, and we wanted to be in the flow of ideas."

GE has also finalized the acquisition of Alstom's Power and Grid businesses, and divested its power generation assets to Ansaldo Energia. Business Wire reported the transaction marked an important milestone for GE to transform itself into the world's premier digital industrial company.

In order to keep its relevance, GE made advertisement to establish its position as tech company and industrial company as well. The company also relocate its headquarter closer to the heart of tech startup, while transforming itself into digital industrial company.

© 2019 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics