Story excerpt provided by Cincinnati Business Courier.
Written by Andy Brownfield.
E-commerce giant Amazon is reportedly acquiring Ring, a smart-doorbell and security company rejected for investment on ABC’s hit show “Shark Tank,” for more than $1 billion in a deal with ties to Cincinnati’s startup ecosystem.
Reuters reports that Amazon (Nasdaq: AMZN) is acquiring Ring for more than $1 billion and is expected to keep it as an independent business. Ring makes smart doorbells that allow users to see who is at their door from a smartphone, which already works with Amazon’s Echo devices and Alexa artificial intelligence.
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Originally published March 1, 2018.