Amazon takes over Ring for $1 billion

Amazon Echo and Echo Plus devices sit near

Amazon Echo and Echo Plus devices sit near illuminated Echo Button devices on Sept. 27 2017

Amazon announced the acquisition of Ring on Wednesday, a video doorbell and home security camera created by American entrepreneur Jamie Siminoff, whose idea was rejected back in 2013 at the reality show Shark Tank. has agreed to buy smart home security device start-up, Ring, the companies said on Tuesday, in what analysts see as a growing bet on delivering packages inside of shoppers' homes and on home security.

Ring are one of the most popular video doorbell makers on the market and have recently expanded their product line into other home security products.

Ring makes WiFi-enabled doorbells equipped with cameras to detect when someone is at the door. Cloud Cam features 1080p Full HD resolution video, night vision, two-way audio, a wide viewing angle, and activity clips from the last 24 hours via the Amazon Cloud Cam App-all for only $119.99. As when it bought Twitch in 2014, Amazon is expected to keep Ring running as-is, meaning the brand and its products are sticking around. It may even be planning to make home security a part of its Prime membership subscription.

The company said it raised $109 million in funding a year ago, valuing the company at about half a billion dollars. Meanwhile, Amazon's indoor Cloud Cam is already being integrated with the Key program - the controversisal service that gives couriers permission to drop off shopping when customers aren't at home. As well as the video doorbell that Ring is most well-known for, the company has a suite of security products including cameras and an alarm system - although the latter is now on hold due to legal issues. Once Ring devices are synched with the voice-controlled Alexa, the users of the Echo Show device can say: "Alexa, show my front door". "Now, you not only have the power of home security at your fingertips, you can also have it at the sound of your voice", Ring noted in a blog post.

Maybe that's first on the agenda once his company has unpacked at Amazon HQ.

Amazon's Alexa Fund, which invests in companies working on voice technology, contributed to Ring a year ago. The Santa Monica-based company has more than 1,000 employees and more than 1 million customers, which it calls "neighbours", spread over more than 100 countries.

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