Amazon to pay over US$1 billion for home security startup Ring

02 Marcha, 2018, 01:05 | Author: Misty Newman
  • Wireless Environment co-founder David Levine

Amazon and Ring declined to comment on the terms, which were reported by Reuters, citing an unnamed source.

"Ring's home security products and services have delighted customers since Day 1".

Amazon said the deal would allow it to help customes keep their homes "safe and secure", while Ring said Amazon's ownership would allow it to "achieve even more" in home security. Amazon also has a security camera, the Cloud Cam, which retails for $119.99 (about £85 / AU$150), and a service called Amazon Key. Amazon Key works with a security camera that records every in home delivery. The deal will allow Amazon to expand its business into the smart home security field. This is a huge deal considering that Ring was last valued at $760 million. In June, Ring announced they'd figured out how to connect select devices to work with Alexa on Echo Show and Fire TV.

According to commentators, that is a huge benefit for Amazon, which has revolutionised the way people shop and the manner of goods delivery. And Amazon itself (which was already invested in Ring) hasn't escaped Siminoff's criticism.

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Moreover, in October it launched a service in the United States called Amazon Key that allows couriers to deliver items inside homes. Ring CEO and founder Jamie Siminoff says he left in tears, as he'd spent $10,000 in props and had eight people preparing for a month for the presentation.

Ring is best known for its video doorbell but has also has an arsenal of smart products including its wired-, battery- and solar-powered Spotlight cams and a DIY home security system.

James McQuivey, an analyst at Forrester Research, said he believed that Amazon had bought Ring so it could add more intelligent capabilities to its doorbells and cameras, like the ability to use software to recognize faces at the front door. It has just been last December that it had acquired Blink, a company that specializes in the development of connected doorbells. Video door bell Company Rings offers a popular consumer electronics brand that it might not have replicated internally.



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