Another story is now appended into the headlines of acquisition. It was just a month back when the headlines were filled with “Flipkart acquiring Myntra” . Nest, smart thermostats producer is all set to be into the headlines pouring the news of its deal with the Dropcam recently. Speculations reveal that Nest is going to acquire the very pompous and popular startup of home monitoring camera i.e. Dropcam. The deal is going to be into the limelight. Its worth $555 million in cash.
Looking towards the history Nest was recently been acquired by Google about four months ago worth $3.2 billion. So, its actually a nesting effect, acquisition to acquisition. The company has got its own individuality and an undertaking of its own as an individual company to buy Dropcam outside the dome of Google. Dropcam will then be known to get folded under the brand name Nest and thereby will be adopting the culture of Nest in every sense.
“The teams are very well-aligned and we love the product,” Rogers said. “We both think about the entire user experience from the unboxing on. We both care deeply about helping people stay connected with their homes when they’re not there.”
Yet, the deal is still into the process and is remaining for its closure. Not only this but Dropcam is flying from San Francisco to Nest offices in Palo Alto, Calif.
Before the deal of acquisition Dropcam had raised a gross amount of $48 million along with the investors including Institutional Venture Partners, Accel Partners, Menlo Ventures and Kleiner Perkins Caufield & Byers.
Dropcam has even been into the headlines for its recent movements into the recruitments of the company. One key recruitment was Andy Hodge a former long time Apple product development leader who even worked with former team members of Nest company on the original iPod.
Recently, the Dropcam is into the commercial markets booming with its newest camera which is been sold in the range of $149 to $199, with the increasing resolution capabilities according to the price range respectively. No news have been flying out till date disclosing of what amount of sales or the turnover figures of the company. But to stretch the talk of sales, Dropcam is the top-selling cameras on the e-commercial hub Amazon on a consistent basis. Dropcam’s sales have even shifted to the retail stores.
Dropcam in 2012, didn’t started up with the production of designing their own cameras, the originally dived into the markets as a hardware startup and they used the existing webcams that hosted personal video archive but didn’t found any significant response from the markets. So, henceforth they started making their own stuffs and set up as a company.
Dropcam has been s strong business model till date. When Google acquired Nest , people were highly concerned about the privacy factors about the fact that Nest may be unsettled by its plan to purchase a home surveillance company. Roger to this concern of people jotted down in a blog post releasing worry of people that: