Amazon pays $1 billion to acquire smart doorbell startup Ring


'Amazon more than Ring can revolutionise home security, ' Wedbush Securities analyst Michael Pachter said.

"We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods", the spokesperson added.

"Ring's home security products and services have delighted customers since day one", an Amazon representative said in a joint statement with Ring, Bloomberg reports. In June 2017, Ring announced that select Ring Video Doorbells and Security Cameras could be accessed by talking to an Amazon Echo Show or Amazon Fire TV.

Amazon is expected to continue-and build on-the Ring brand, as it has with some of its other past acquisitions of Zappos, Twitch and Audible. As early as a year ago, the Santa Monica-based company also had a 97 percent share of United States video doorbell sales, according to a market research firm.

Ring makes a variety of connected smart home devices, including doorbells, security cameras, and floodlights. Amazon has brought video doorbell company for $1 million.

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Just last month Ring acquired a startup called Mr. Beams that makes WiFi-enabled LED lighting with motion-sensing capabilities.

Amazon's Alexa voice assistant is already compatible with Ring devices.

This is just the latest move by Amazon to get a foot in the door of the connected home space. Today it has been revealed that Amazon have purchased Ring supposedly for over a billion dollars.

The world's largest online retailer believes that selling internet-connected gadgets from Kindle e-readers to its new Cloud Cam will spark more shopping on

Ring has been a big hit with consumers looking for easy-to-use and easy-to-install smart home security solutions. Currently, Amazon Key uses the Amazon-made Cloud Cam to record delivery personnel entering the home and one of a few compatible smart locks by Yale and Kwickset to let authorized people into the home with a unique unlock code. Ring offers similar services, recording live videos of customers' doorsteps and homes, then sending the videos to their smartphones. The company's market value is more than $700 billion.