The Big Think

January 14, 2014

Feathering the Nest

Filed under: Technology — jasony @ 1:28 pm

Google buys Nest Labs for $3.2 billion: “The search giant announced Monday that it’s buying connected device maker Nest Labs for $3.2 billion in cash.

Nest, led by former Apple (AAPL, Fortune 500) designer Tony Fadell, develops ‘smart’ home appliances like thermostats and smoke detectors that can program themselves and communicate with smartphones. “

Great Scott. 3.2 BILLION dollars. $3,200,000,000.00

Somebody made bank on this deal. BANK.

1 Comment »

  1. Yeah, that price is insane. At $300 each, that price is the revenue (not profit, revenue) from selling about 10,000,000 units. For reference, I think there are aboug 100,000,000 households in the USA, so that would be selling a $300 thermostat to 1 in 10 households in the country. Yes, they’re really cool, but I can buy a passable thermostat at home depot for a tenth of that price. And it will probably last longer.

    Yes, someone made BANK. Crazy. Google’s cash pile must be burning holes in their pockets.

    Comment by greg — January 14, 2014 @ 3:01 pm

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