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Wednesday, February 28, 2018
Amazon to Buy Smart-Doorbell Startup Ring for $1 Billion


Amazon.com Inc. has agreed to buy connected-doorbell startup Ring Inc. for about $1 billion, according to Bloomberg.

Buying Ring gives Amazon another touch point with customers, as the company has been already pushing for a bigger presence in homes through connected devices such as its Echo smart speaker with the Alexa voice-activated assistant.

Last year, Amazon introduced Amazon Key, a service that incorporates a smart lock that can open doors for verified delivery drivers to deposit packages directly into a shopper's home.

Ring makes video doorbells and security cameras that connect to users' phones or computers, letting them see and speak to anyone on their property from afar.

The acquisition puts Amazon in more direct competition with security camera makers such as Nest Labs Inc., Honeywell International Inc. and Canary Connect Inc.



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