Amazon Acquires Smart Doorbell Startup: Ring for $1 Billion

Mar 02, 2018, 03:24
Amazon Acquires Smart Doorbell Startup: Ring for $1 Billion

Amazon has bolstered its smart home offering with the acquisition of Ring, a California-based maker of video doorbells and security cameras, in a deal thought to be in worth in excess of $1 billion. "We'll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon".

As part of its leap into the home security market, Amazon has reportedly agreed to buy smart doorbell and security camera company Ring.

Terms of the deal have not yet been announced, though Reuters suggests that it could be worth at least $1 billion Dollars.

Amazon Key allows subscribers to Prime to have delivery people unlock their door and leave packages inside the home, rather than on the step or in a mailbox.

Ring started back in 2013 when Jamie Siminoff went on the ABC's "Shark Tank" to pitch his company Doorbot.

More importantly, Ring's security devices could work well with Amazon Key, a smart lock and camera system that lets delivery personnel put packages inside a home to avoid theft or, in the case of fresh food, spoiling.

Amazon Acquires Smart Doorbell Startup: Ring for $1 Billion

Neither Ring nor Amazon would discuss the terms of the deal.

The Seattle-based company paid $13.7bn for upscale United States supermarket chain Whole Foods Market previous year and recently opened a till-less convenience store of its own, called Amazon Go, to the public.

Ring doorbells are already being used by 2 million customers. It has just been last December that it had acquired Blink, a company that specializes in the development of connected doorbells.

Data provided by a software as a service (SaaS) company showed that Ring has raised $443.9 million so far and was last valued at $760 million.

Ring is probably best known for its video doorbell that allows you to see who is at your door and talk to them in real time via an app on a smartphone or tablet. Other acquired companies such as Twitch and Audible also run as separate entities on Amazon.com, notes The Verge. The Nest Hello will debut in March and costs $299 CAD, and will include integration with Google Home. On the other, audio and video from Ring's products can be wirelessly played through Echo speakers, or shown on the screen of the Echo Spot and Echo Show.

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