Dropcam

Nest has just acquired Wi-Fi video streaming camera company Dropcam for $555 million. As you know, it was just a few months ago that Google acquired Nest for $3.2 billion. This move will bring Dropcam into the Google family.

A blog post on the Nest website alleviates any concerns over ads being integrated into products from Dropcam.

Here's Matt Rogers, Nest's founder and head of engineering, on the how Dropcam will integrate with Nest and Google by association:

"Once the deal closes, we'll incorporate Dropcam into how we do business at Nest. That includes how we handle everything from customer support to customer privacy. Like Nest customer data, Dropcam will come under Nest's privacy policy, which explains that data won't be shared with anyone (including Google) without a customer's permission. Nest has a paid-for business model and ads are not part of our strategy. In acquiring Dropcam, we'll apply that same policy to Dropcam too."

Do you have a Dropcam? What do you make of the news? Sound off below!

Full press release from Nest embedded below:

Nest and Dropcam Sign Acquisition Agreement

Nest announced today that it has entered into an agreement to buy Dropcam for $555 million in cash, subject to adjustments.

Palo Alto, California — June 20, 2014 — Nest Labs, Inc. (nest.com) announced today that it has entered into an agreement to buy Dropcam for $555 million in cash, subject to adjustments.

The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US. For more information, visit the Nest blog.

About Nest

Nest reinvents unloved but important home products, like the thermostat and smoke and CO alarm. The company focuses on delighting customers with simple, beautiful and thoughtful hardware, software and services. The Nest Learning Thermostat™ and Nest Energy Services offerings address home energy consumption, and Nest Protect: Smoke + Carbon Monoxide™ helps keep people safe. Nest products are sold in the U.S., U.K. and Canada, and are installed in more than 120 countries. For more information, visit www.nest.com.

Source: Nest

 

Reader comments

Google and Nest buy Dropcam for $555 million

63 Comments

Very interesting. Google Home announced at I/O 2015. The house completely controlled via Google services.

Posted via Android Central App

One can hope.. And it looks like it's going that direction.. All tied into Google Now

Nexus 4 - CM10.1.3

Yeah the hope is there for me as well as this progresses. Easy recording services around the home that can be tied (hopefully) into my own recording service. It would be best if I could store data myself instead of paying for a service in the end, but we will see.

Considering they announce Android @home in 2011 and nothing became of it, not sure I would hold my breath for them doing anything besides buying up companions.

I love the Dropcam and cloud recording component, but they don't use common sense when it comes to the way they let you upgrade. Hopefully that will be better with Google in the picture.

It won't be better.

And Nest's promise to not share any of the video from my house with Google is like my car promising it has no intention of going to the beer store.

Very true! Eventually it will be added to the EULA and you will need to check it to use the service.

Posted via Android Central App

Maybe I should ask for my money back, because by agreeing to SELL the COMPANY, and everything the company has, they have already violated their Privacy Policy by selling my information and my videos.

When will people learn? EULAs and privacy policies are not worth the paper theyre written on. Of you leave your house, assume you will be on some camera somewhere. If you use an Internet service, no matter how small or anti-google they appear to be, assume they will one day be bought by a google or Facebook or Amazon. Privacy doesn't exist. Fight for it but in the meantime accept the way it is or live differently.

Where is Google getting all this money? They don't make nearly as much as Apple and yet Google spends more than 3x the rate on acquiring other companies. Shouldn't they worry about how much they will end up wasting?

They both have pretty much all of the money so it's no big deal. Consider the fact that Google is worth more than even Exxon and every other oil company for that matter...

Posted via Android Central App

In what way is Google worth more than Exxon? Google has a market cap of 377.68 billion and Exxon has a market cap of 445.85 billion.

Yes, Google has $59 and billion in cash reserves while Apple has $160 billion and Exxon has about $5 billion, this is common knowledge. However, nonexus stated that Google was worth more than Exxon which is not true nor matter how you measure it. By market cap Exxon is higher than Google and by enterprise value which is a more accurate way to asses the value of a company Exxon's value is even greater over Google. If you were to also measure by profits (how much a company makes) Exxon is number 2 in the world while Google is way down at number 46. The amount of cash a company has little to do with how much a company is worth and even further hurts hat company when measuring by enterprise value (market cap minus cash on hand).

Google is NOT worth more than Exxon. Google has a market cap of 377.68 billion and Exxon has a market cap of 445.85 billion. A simple GOOGLE search wold have prevented you from looking ignorant.

Google's market cap is 377.68 billion while Apple's is 548.16 billion. Google has $59 billion cash on hand compared to Apple's $160 billion cash on hand more than 2.5x as much as Google. Even Microsoft has more cash on hand at $85 billion than Google does. For someone that loves Android products you sure seem allergic to Google search.

Google and Apple compete in a lot of ways, but they're very different companies. Apple's focus has always been a lot narrower than Google's, so their acquisitions are a lot fewer and a lot more specific; if an acquisition won't help to better the iPhone and iPad, they don't buy. Google's got a lot more irons in a lot more fires than Apple does, and they spend like it.

Who said they don't make as much as apple? If I'm not mistaken (and Im not) Google just passed apple as the most valuable company in the world a couple months ago.

Posted via Android Central App

They do not make more than apple. Google's profit is 15 billion compared to Apple's 45 billion as of last year.

Posted via Android Central App

Oh wow, I see now why Android fans are so ignorant. It's not that they intentionally lie but they confine themselves to an everlasting echo chamber of self praise that they truly believe their own bs. When did Google ever pass Apple as the most valuable company? By market cap Google is third, behind Apple and Exxon and on the fortune 500 which measures companies based on profits, Apple ranks 5th while Google is way down at 46th. So sorry to burst your little bubble.

OK, yes he's misunderstood the whole "value" thing that came out a few weeks back, but your response makes me go "really?".

@briankurtz: Google surpassed Apple in "brand value". it has nothing to do with how much money either company makes or has on hand. It's simply someone's opinion of what the brand itself is worth. It's really rather subjective.

@OKGO: before you start lambasting someone for being "ignorant" and "believing their own bs" maybe you should do a quick internet search and make sure you're not actually talking about yourself.

http://www.cnn.com/2014/05/21/tech/innovation/google-apple-brand-value/

I trust google, given their company record and I love their work as far as software, hardware, and services. I really believe this is a step in the right direction! :-)

Posted via Android Central App

You realize a company can change overnight, its policies and direction come from its CEO, and the CEO can change at any point. I'm not saying not to trust Google or any other company, but knowledge (or in this case data) is power, and never in the history of mankind has one company or even one country had so much of it. One might say that as long as it's used for good or to better our lives, then it's a good thing, but people can radically disagree about what "bettering our lives" can mean.

This is 100% true. I would also like to point out that companies can make money fairly and ethically as well--take a look at what T-Mobile has been doing. Wouldn't you say it is fair service for a fair price with fair treatment?

Posted via Android Central App

I'm fine with this. Now I hope Google will allow local recording and streaming. Biggest issue and one of the most requested features from Dropcam owners.

Posted via Android Central App

The NSA is anxiously awaiting the day cameras like these are in every home recording everything every day. It's only a matter of time. If they can hack a Webcam on your computer or TV, they will find a way to hack these cameras too. I find all this stuff a little too Orwellian for my tastes. That said, I have nothing to hide but dislike the idea of Big Brother. There are already enough cameras watching everything. I don't need them in my home.

BTW I might invest big in tinfoil hats.

From the Death Star using my LG G2

The NSA hacking these systems isn't the issue. The issue is the potential of warrantless demands for Google to turn over data to the NSA, under a gag order that prevents Google from telling yo that your data has been turned over.

Don't be naive, the NSA does what they want behind closed doors. These requests for data that you or anyone else hears about is just their way of "following the rules" so that you and I have a false sense of security that the government actually follows its own rules.

^^^^^
This

They can watch all of us anytime without our knowledge, but who is watching them?

The answer is nobody! Pandora's box has been opened and a Gordian knot was found inside!

From the Death Star using my LG G2

They don't even need to hack. They just have to tell their buddy Judge of the secret court they think they need to look at something and they get access.

This is great. With 2 step verification things should be ready to go. Awesome.

Posted via Nexus 5 Android Central App

I love my dropcams and plan to get more. I really hope they keep this service as is with incremental improvements. I do not pay for the recording options but would be psyched if those got cheap or free.

Posted via Android Central App

wifi video....Now if they would get a hold of a leading bluetooth or wifi speaker company and head to a complete wireless audio/video systems for both home and cars

This is pretty sad to me. Hard for me to find an upside to great upstart companies like Dropcam and Nest getting snapped up by larger companies like Google.