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Source: Amazon to Buy Security Startup Ring for Over $1 Billion

Source: Amazon to Buy Security Startup Ring for Over $1 Billion

SEATTLE, WA - Amazon is pushing forward its mission of making home delivery for perishables that much more simple. Citing a source familiar with the matter, Reuters reported that the e-commerce giant will acquire Ring, a startup known for making smart doorbells and security cameras, for over $1 billion.

“Ring’s home security products and services have delighted customers since day one,” an Amazon spokesman said in a statement, according to The Washington Post. “We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”

Ring security camera

This deal comes just four months after, Amazon introduced its system, Key, which is designed to allow delivery people to drop off packages inside your home through keyless mobile phone technology. While Amazon hasn’t definitively said this will be part of Ring’s new mission, the company’s purchase of a similar start-up, Blink, has the media speculating this may further close the gap between the retailer and in-fridge delivery for fresh produce and beyond.

“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools,” a spokesman for the start-up shared. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon.”

Will Amazon be able to beat its rival Walmart to the perfection of keyless delivery? AndNowUKnow will keep you updated with the freshest news.