Amazon is purchasing Ring, the maker of video doorbells and other smart-home technology, the companies have announced.
Ring, based in Santa Monica, California, was founded six years ago with a single product: a WiFi-enabled video doorbell that allows homeowners to monitor their front doors using an app on their smartphones. A built-in motion detector alerts users when a visitor arrives at their stoops, and gives them the option to see, hear and speak to guests before they let them in. The company has since introduced other products, including security cameras, home alarms, and WiFi-enabled smoke detectors and flood sensors.
“Ring’s home security products and services have delighted customers since day one,” an Amazon spokesman said in a statement. “We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”
The companies did not disclose the terms of the deal.
The announcement comes fours months after Amazon debuted its own smart-home technology to allow delivery workers to bring packages straight into customers’ homes. For $250, Amazon Key allows Prime members to grant keyless access into their homes to select individuals, including delivery workers, dog walkers or house cleaners. The system works in conjunction with the Amazon Cloud Cam and a compatible smart lock. (Ring doorbells, by comparison, range in price from $179 to $499.)
Two months ago, Amazon purchased a similar start-up, Blink, which also makes video doorbells and home-security cameras.
With its purchase of Ring, the company is doubling down on its efforts to dominate the fast-growing home-security market. But this isn’t the first time Amazon has taken notice of Ring: The online giant invested in the start-up two years ago through its Alexa fund, which provides venture capital for products that use voice technology. Ring, valued at about $760 million, has raised $209 million in funding to date, according to Pitchbook.
“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools,” a company spokesman said in a statement. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon.”