Amazon.com Inc. has agreed to buy
video doorbell maker Ring, a deal which will allow the company to expand its
home security and in-house delivery services.
Amazon is expected to keep Ring as
an independent business; much like it has with its other acquisitions, like
Zappos and Twitch. Amazon has been making moves to get into the home security
space lately. It partnered with lock manufacturers Kwikset and Yale for its new
in-home delivery service. Amazon Key, and recently acquired smart camera Blink.
Ring has raised $443.9 Million so
far, and was last valued at $760 Million. This isn't the first time Amazon has
partnered with Ring. The e-commerce company previously invested in Ring through
its Alexa Fund, which exclusively invests in companies that help scale its
Alexa voice technology.
The world’s largest online retailer
believes that selling internet-connected gadgets from Kindle e-readers to its
new Cloud Cam will spark more shopping on Amazon.com. Ring offers the company a
popular consumer electronics brand that it might not have replicated
internally. 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.
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