After Nest’s first smart video doorbell right around the corner, Amazon is busy getting into the competition.
After obtaining Blink just two months ago, Amazon is now earning Ring, makers of the self-titled Ring doorbell (plus a bunch of other safety gear, like floodlight cams, an in-home alarm system and solar security cameras).
GeekWire broke the gossip this afternoon, and we have just received independent confirmation.
Details on the deal are pretty light yet. The financial terms of the deal, for instance, have not trickled out just yet update: Reuters is announcing, via tweet, that the sale price was more than $1 billion. According to Crunchbase, the company had invested around $209 million to date.
This asset makes lot of sense. Amazon has already built a few connected cameras of its own — but hardware is, as they say, difficult, and that is not going to change. With nearly a dozen solid products in its name, the Ring team has showed themselves to be more than capable of developing hardware (and I’m sure its array of patents doesn’t hurt, either.) With Amazon, Google, Apple et al. all fight for physical space in and around your home, someone was going to make a big offer — and I’d be surprised if Amazon was the only bidder in the mix. Additionally, who on earth is sensable for more doorbell presses than Amazon?
(Fun bit of trivia: Ring debuted to the world on Shark Tank back in 2013, then known as “DoorBot.” They required $700,000 for 10 percent of the company, but nobody accepted the deal.)
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