E-commerce and cloud computing giant Amazon.com Inc. (AMZN) is making a billion-dollar bet on a smart home security and a doorbell company Ring, marking its second-largest acquisition to date. Taking over the six-year-old startup, which was rejected on the popular TV show "Shark Tank," is part of the Seattle-based retail behemoth's larger initiative to double down on its Key platform, a service that combines a smart security camera and a smart lock for keyless entry, guest access and, most relevant, in-home deliveries. Amazon previously invested in Ring through Alexa Fund investment arm which invests exclusively in Alexa-powered devices. Read More...
Why Amazon Is Spending $1B on a Doorbell Company
E-commerce and cloud computing giant Amazon.com Inc. (AMZN) is making a billion-dollar bet on a smart home security and a doorbell company Ring, marking its second-largest acquisition to date. Taking over the six-year-old startup, which was rejected on the popular TV show “Shark Tank,” is part of the Seattle-based retail behemoth’s larger initiative to double down on its Key platform, a service that combines a smart security camera and a smart lock for keyless entry, guest access and, most relevant, in-home deliveries. Amazon previously invested in Ring through Alexa Fund investment arm which invests exclusively in Alexa-powered devices.
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