Amazon Buys Smart-Doorbell Ring for $1 billion
As Amazon’s empire continuously expands, its no surprise that they have made another major purchase. This time, it’s the smart doorbell company, Ring. The purchase is being made for a reported $1 billion, which would make it one of the largest purchases the company has ever made. This seems to be the way that Amazon is getting its foot in the door when it comes to home security systems. Amazon’s relationship with Ring goes further than just this purchase, as it previously invested in the company through Amazon’s Alexa Fund. Now, Ring is worth about $760 million and has raised nearly $444 million.
Ring is about as high-tech as it gets for home doorbells. This product is a video doorbell that connects to a homeowner’s phone and allows them to see whoever comes to the door. There is also an intercom system that allows the person to talk to whoever is outside their house. In addition, any time motion is detected by the doorbell, the homeowner gets a notification on their phone. This can help tremendously for home security if an intruder were to try to break in. Amazon now has its own home delivery service, Amazon Key, which allows delivery people to enter the house to drop off purchases.
Though Amazon purchased Ring, it will allow the business to remain independent, just as it did with major shoe retailer, Zappos.
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