Amazon pays $1 billion for Ring, tech startup with Ukrainian developers

Olive Hawkins
March 1, 2018

The company acquired Blink, a startup that develops battery-powered connected cameras and doorbells, for approximately $90 million.

Amazon.com has agreed to buy smart home security device start-up, Ring, the companies said on Tuesday, in what analysts see as a growing bet on delivering packages inside of shoppers' homes and on home security. Financial terms of the deal were not disclosed, but citing a person briefed on the deal, a report from The New York Times said the deal could be worth $1.1 billion.

The Ring smart-video doorbell.

Amazon may have just officially put a ring on Ring, but the relationship between the two started through its Alexa Fund, which funnels money into companies that create new ways to integrate Amazon's voice technology into their products. The Ring deal simply advances that agenda, giving Amazon another piece of what's likely to become a whole home platform.

"Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our neighbors that make a positive impact on our homes, our communities, and the world", a Ring spokesperson added.

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An Amazon spokesman said it bought Ring to help customers keep their homes "safe and secure".

As Amazon seeks to build out technologies that interact with its voice assistant Alexa, there are signs that Google is gaining a greater share of the smart speaker market with its Google Home devices.

Since the launch of the Echo, Amazon has been a dominant player in the smart home market thanks to its ability to control countless third-party devices. Of course, Amazon's latest acquisition should further enable it to fool proof it's Key based delivery process though that's unlikely to be the only way Amazon will be utilizing the Ring portfolio of products. Users can tell Alexa to call up a live Ring video feed from their front-door camera. The system works in conjunction with the Amazon Cloud Cam and a compatible smart lock. The smart home ecosystem represents a $20 billion market opportunity over the next three years with Alexa front and center, Ives wrote. However, Ring's products will no doubt be closely integrated with Amazon's existing products and services.

A partnership with Ring gives Amazon more access to internet-connected gadgets.

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