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MONEY

Amazon has agreed to acquire smart home company Ring for more than $1 billion, according to Reuters.

Ring makes doorbells that record live videos of customers’ doorsteps, then sends the videos to their smartphones.

The doorbell could help Amazon customers trust its new service which lets couriers open people’s front doors and put deliveries inside.

This is another step to becoming a completely streamlined service for Amazon, as their smart speaker, Alexa already works with Ring gadgets and Amazon’s venture capital arm invested in Ring last year.

Crime Reduction

“Ring is committed to our mission to reduce crime in neighbourhoods by providing effective yet affordable home security tools to our neighbours that make a positive impact on our homes, our communities, and the world,” a Ring spokesperson said in a statement. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon.”

Like many of Amazon’s previous acquisitions, Ring is expected to continue to operate under its own branding and integrate product features into core Amazon products — just as Whole Foods has begun selling 365-branded products on Amazon’s Prime delivery service, while Twitch and Audible run independently from Amazon.com.

Amazon’s spokesperson also confirmed the deal, saying: “Ring’s home security products and services have delighted customers since day one. We’re excited to work with this talented team.”

 

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