Amazon will acquire the start-up company Ring, the maker of internet-connected doorbells with cameras, in a deal reportedly worth more than $1 billion.
"Ring's home security products and services have delighted customers since day one," an Amazon spokesperson told Reuters. "We're excited to work with this talented team and help them in their mission to keep homes safe and secure." If this deal goes through, Ring will be Amazon's second-largest acquisition, behind the almost $14 billion purchase of Whole Foods last year. Ring has raised more than $200 million in funding, and Richard Branson is one of its investors.
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