Amazon acquires video doorbell company Ring for £720m

Amazon has acquired the video doorbell start-up company Ring Inc. for £720m, in a move that will send warning shots across all suppliers involved in the rapidly growing 'Connected home' market.

The company has made a successful push into the home in recent years, with the launch of Amazon Echo and more recently its Amazon Key service, which provides couriers with the ability to enter customers’ homes through the use of its Cloud Cam. This works by recording drivers from the moment they pull up in the delivery van, to the point of them entering the house and eventually leaving.

Read - Amazon Key to launch across 37 US cities.

The acquisition will give Amazon a greater presence in customers’ homes similar to that of its Echo devices and will in also deliver the following:-

• It will build connections for further strengthening trust between the brand and consumers.
• It will increase the market for delivery, and in turn, frequency of purchase.
• It will move Amazon further along the path to same day/same hour delivery.

Check out the Ring product range here.

Once the acquisition is complete, Amazon will be in a better position to compete with other security companies, such as Nest Labs Inc., Honeywell International Inc. and Canary Connect Inc.

Source: Insight DIY Team

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