From Axios:
Amazon has agreed to buy video doorbell startup Ring, Axios has learned.
No word yet on price, although a source calls this Amazon’s second-largest acquisition of all time (behind Whole Foods). That would seemingly mean it’s above $1.2 billion (the amount Amazon paid for Zappos), which is in line with earlier reports that Ring was fundraising at around a $1 billion valuation.
Why it matters: Not only is this another connected home play for Amazon, but it also could further its plans to enable delivery people to leave packages inside of buildings.
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Link to the rest at Axios
Is this a company that got shot down on Shark Tank?
Dan
When you can buy an IP webcam for less that $50 that talks to your phone, I’m having a hard time understanding why a “video doorbell” company is worth that much money.
Perhaps Amazon needs a loss for tax purposes.
Mindshare.
Marketshare.
Patents.
Or maybe the staff.
Sometimes companies buy other companies as a way to hire their personnel. It is called an acquihire. Like when Google bought oyster and shut it down.
http://fortune.com/2015/09/22/oyster-shuts-down-founders-to-lead-google-books-new-york/
Here’s the tech world take:
https://www.cnet.com/news/amazon-bought-ring-because-of-course-it-did/
A perfecf fit and no surprise.
Ring is, after all, one of tbe leaders in home automation and Alexa is a top player in that space.
Our doorbell hasn’t worked since shortly after we bought our house over 10 years ago. A year or so ago, I saw the “Ring” video doorbell at Costco and bought it. It was incredibly easy to install and works like a charm. We don’t usually even bother with the video feature, we just needed a doorbell and didn’t want to pay people to come out and install another. I don’t remember exactly how much it was, but it wasn’t terribly expensive.
So far it’s been worth it.