Amazon has gone on to buy Ring, makers of smart home security solutions in a deal that is estimated to be worth more than $1 billion. "We're excited to work with this talented team and help them in their mission to keep homes safe and secure", Amazon said in a statement.
In a move that will further consolidate its presence in the home technology and delivery market, Amazon is set to acquire video doorbell-maker Ring. It isn't clear yet what the electronic commerce and cloud computing company has planned for its latest acquisition, but it was already disclosed that the deal involved $1 billion. That's a service through which delivery people can actually enter the homes of Amazon Prime members to drop off Amazon packages.
File this under missed opportunities: Back in 2013, Los Angeles-based entrepreneur Jamie Siminoff pitched an idea for a smart doorbell on the ABC show Shark Tank. And before that, Amazon introduced its own line of smart home products, like the Amazon Cloud Cam and Amazon Key.
Ring makes WiFi enabled doorbells equipped with cameras that detect when someone is at the door. It has just been last December that it had acquired Blink, a company that specializes in the development of connected doorbells.
Details are now scarce, but GeekWire is reporting that Amazon has bought smart doorbell maker Ring for $1 billion.
Amazon has taken some baby steps into home security.
When someone approaches a door, the Ring application begins a VOIP video call to homeowner's smartphone app, so that the owner can see and speak to visitors.
Amazon's interest in home security makes sense as it looks to expand the reach and potential of its smart speaker and home automation lineup.