Google’s Nest Buys DropCam: Home Automation Knocks
Set up in 2009, Dropcam lets you monitors your home remotely via live streaming over WiFi network. It also stores footage in the cloud.
“Although this was a big decision for us, it wasn’t a difficult one to make,” says Matt Rogers Nest founder and head of Engineering. The deal is believed to be worth US$555 million.
Google purchased Nest for US$3.2 billion in January, in a bid to make headway in the expanding home automation market.
“We spent a lot of time looking at camera companies and technologies around the world. And I can say without a doubt, Dropcam has the best products, services, and customer experience in the business,” says Rogers.
It was set up by co-founders Greg Duffy and Aamir Virani in 2009, and backed by investors including Accel Partners, Menlo Ventures.
Rogers says Nest and Dropcam “actually have a lot in common.”
The plan is for us to work together to reinvent products that will help shape the future of the conscious home and bring our shared vision to more people around the world, he says.
Rodgers says its business as usual for Dropcam, for now, and insists Google wont be getting their beady eyes on Dropcam customer data.
“Once the deal closes, we’ll incorporate Dropcam into how we do business at Nest and insists privacy of customer data wont change under new ownership. “
Dropcam will still be sold online and in stores and customers can still use their accounts.
Nest has a paid-for business model and ads are not part of its strategy.
Nest’s mission is “we reinvent things” including home devices like thermostats and smoke alarms, and developed the popular Learning Thermostat.