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Google's Nest Buys Home Monitoring Camera Company Dropcam 82

rtoz writes: The popular home monitoring camera startup "Dropcam" will be acquired by Nest Labs, the maker of smart thermostats and smoke detectors. The deal is worth $555 million in cash. Nest itself was purchased by Google just four months ago for $3.2 billion. Dropcam is a cloud-based, Wi-Fi video monitoring service, founded in 2009. It lets users place cameras throughout a home for live-viewing and recording. The cameras also include options for night vision and two-way talking with built-in microphones. Dropcam has never disclosed sales, but it is routinely the top-selling security camera on Amazon, and it recently branched into selling in retail stores like Apple and Best Buy. People concerned about the privacy implications of Google's acquisition of Nest may be further unsettled by Nest's purchase of a home surveillance company. Nest's founder Matt Rogers anticipated this issue, and insisted that there's no reason to worry. In his blog post, he says that data won't be shared with anyone, including Google, without a customer's permission. Nest has run into product challenges recently.
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Google's Nest Buys Home Monitoring Camera Company Dropcam

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