Amazon buys WiFi doorbell maker Ring for 1B
Amazon has purchased WiFi doorbell maker Ring.
Ring is a startup that makes WiFi doorbells in terms of security. It lets owners view whoever is at the door on your phone. It can also be connected to other lighting systems to turn them on when a stranger is knocking and walking. Currently, Ring is valued at over 1B according to Reuters.
Ring first made headlines when it was featured on Shark Tank back in 2013. The CEO, Jamie Siminoff, had no bites other than Mr. Wonderful (Kevin O’ Leary), but of course, he didn’t take the (often greedy) offer. Siminoff has then expanded the business into a huge success- enough for Amazon to purchase it.
Siminoff got the idea for WiFi because he would work in his garage being the inventor that he is and couldn’t get the door. So he made Ring, which would send a notification to his phone when someone rang the doorbell. Soon, it was developed into a whole security system where it could detect whoever was on the premises.
Ring could work well with Amazon Key (their in-home dropoff delivery). Both could work together to create a safer delivery ecosystem and perhaps help ease consumers into trying this new way of deveining packages. Amazon getting into security devices that synch with their existing products is only a way forward in the world of fast-moving tech.
Check out Ring’s homepage.
Image via Ring.