Amazon puts a Ring on it, agrees to buy doorbell maker
February 28, 2018
Amazon has agreed to acquire Ring, a maker of IoT-enabled home security devices, in a deal with a reported value of more than $1 billion. The startup will retain its independent operations. The move follows Amazon's acquisition of connected doorbell and camera maker Blink in late December as well as Ring's January acquisition of smart LED light startup Mr. Beams.
Founded in 2012, Ring has raised an estimated total of $369 million in equity funding from First Round Capital, True Ventures and more at a valuation of $760 million. Amazon first got involved with the former "Shark Tank" participant in 2016, with Ring representing one of the 22 companies Amazon has backed via the Alexa Fund, per the PitchBook Platform.
Upon completion, the deal will become Amazon's 50th M&A transaction to close since the start of 2007. Shares of rival home security company ADT (NYSE: ADT) took a hit on the news Tuesday, dropping roughly 5%.
Check out more of our Amazon coverage.
Founded in 2012, Ring has raised an estimated total of $369 million in equity funding from First Round Capital, True Ventures and more at a valuation of $760 million. Amazon first got involved with the former "Shark Tank" participant in 2016, with Ring representing one of the 22 companies Amazon has backed via the Alexa Fund, per the PitchBook Platform.
Upon completion, the deal will become Amazon's 50th M&A transaction to close since the start of 2007. Shares of rival home security company ADT (NYSE: ADT) took a hit on the news Tuesday, dropping roughly 5%.
Check out more of our Amazon coverage.
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