The move helps Amazon expand further into the consumer market, including providing security for package deliveries. JPMorgan Chase & Co advised Ring on the sale, said the person.
Amazon has been pushing for a bigger presence in homes through connected devices such as its Echo smart speaker with the voice-activated assistant named Alexa. Buying Ring gives the e-commerce giant another touch point with customers, said James Cakmak, an analyst at Monness Crespi Hardt. “For this specifically it A) builds connection for further strengthening trust between the brand and consumers, B) increases market for delivery, and in turn, frequency, C) moves company along path to same day/same hour efforts while everyone else is battling the two day war,” Cakmak said in an email.
Last year, Amazon introduced Amazon Key, a service that incorporates a smart lock that can open doors for verified delivery drivers to deposit packages directly into a shopper’s home.
Package thefts from doorsteps have increased in recent years with the spread of online shopping and deliveries.
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