Bestselling Instant Pot gets taken over by Pyrex for $2 Billion
March 5, 2019
COMMENTS

Instant Pot’s been a true product of the generation. A 6-in-1 combination of programmable pressure cooker, slow cooker, rice cooker, steamer and warmer and it’s been among the bestselling product on Amazon across all categories. It boast a very young, social media savvy crowd as its end users, who push forward benefits like the fact that Instant Pot weight loss is a thing.

All that buzz attracted the attention of Cornell Capital investing firm. After all this is the company that bought Corelle, the makers of Pyrex, SnapWare and CorningWare glass baking dishes, measuring cups, plates and storage containers, in 2017.

When the companies finish their deal which is rumored to be worth $2 Billion, they will be owned by Cornell Capital investing firm, which bought Corelle in 2017. Corelle CEO Ken Wilkes will be the new company’s CEO, and Instant Pot creator Robert Wang will serve as the company’s Chief Innovation Officer.

Interestingly, Corelle traces its roots way back to 1915, making this a rare alliance of a century-old kitchen staple and a 10-year-old trendy gadget that far surpassed its initial hype.

by Anil George
Avid follower of all things tech. In between his quest for the ultimate gizmo, Anil fiddles with light meters, collects rare books and feeds his fetish for Jap horror movies. As Managing Editor of T3 Middle East for the GCC, Anil oversees content direction across print and digital. He was a CES 2018 Innovation Awards Judge, reprising his role as an Innovation Awards Judge at CES 2017, 2016. and 2015. Anil is also the Middle East's first Brand Ambassador for Ashdown Engineering. Reach him at: editor@t3me.com.
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