In a deal rumoured to be worth $1 Billion, online retailer Amazon has purchased doorbell manufacturer, Ring, in an attempt to solidify trust in its new delivery service – as well as adding to similar existing Amazon products.

Ring produces high-tech doorbell cameras which allows homeowners to live stream footage from their front door to their smartphone and has been hailed as a huge step in modern home security.

The US-based company has grown significantly in recent years (valued by Pitchbook at $760 million) and has come a long way since CEO Jamie Siminoff was famously rejected on American show Shark Tank – similar to Dragon’s Den.

This event prompted Siminoff to re-brand his product and when Doorbot became Ring, the California-based firm began raising serious investment – with over $440 million raised so far.

Since its re-branding, the company boasts over one million customers worldwide, 2000+ employees and sales of over $150 million – it even peaked the interest of Richard Branson.

Can a doorbell really help to prevent crime? http://t.co/GwbqW9h6OI @ring_labs pic.twitter.com/P17gEEqhF5

— Richard Branson (@richardbranson) August 26, 2015

The Key to Amazon’s Future

Amazon has previously invested in Ring through its Alexa Fund. This move, however, is one that excites the online retailer as they further develop their Amazon Key delivery service, that will enable couriers enter customers homes to leave packages.

An Amazon spokesperson confirmed the deal, stating:

“Ring’s home security products and services have delighted customers since day one. We’re excited to work with this talented team.”

With the acquisition of Ring in addition to existing Amazon products such as Cloud Cam security cameras and the Echo speaker, this move is a clear step toward ensuring customer confidence in courier services.

Previous concerns over security had been raised, and in October 2017, Amazon sought to calm customer fears over the security of their new delivery service, saying “these individuals are thoroughly vetted, with comprehensive background checks and motor vehicle records reviews,”.

For couriers to access a customer’s property, they are required to scan the package’s bar code, and once verified online, the delivery person will be able to unlock the door using an app. Ring’s role in this process will be to ensure the identity of the courier to avoid any potential foul play.