business news in context, analysis with attitude

In Minnesota, the Star Tribune reports that Target is "looking to hire 20 engineers and product managers in Silicon Valley to join a technology-based start-up called 'Goldfish,' but it’s still fairly mysterious as to what the new project is all about." The initiative "is the brainchild of West Stringfellow, who joined Target last year as one of three entrepreneurs in residence who were charged with bringing out-of-the-box ideas to help push Target’s innovation agenda. Target liked him so much that it ended up promoting Stringfellow in December to the more permanent position of vice president of internal innovation and operations."

In describing the initiative - albeit in vague terms - one of the job postings says that the company is "ambitious and bent on disrupting the way people shop." But the company, while acknowledging the existence of "Goldfish," says details remain confidential.

The story notes that "Goldfish" seems to be just part of Target's disruption strategy: "In Boston, another member of Target’s first entrepreneur-in-residence program has set up a lab to think up ideas about the future of food. In January, Target opened the Food + Future coLAB in partnership with MIT’s Media Lab and the design firm Ideo. University students have used that space to brainstorm ideas for new start-ups around how food is grown, bought and consumed. Target executives will then vet the ideas to see if there are some that make sense for the retailer to launch."
KC's View: