Google Buys Dropcam for $555 Million

Google has acquired personal home security camera company Dropcam for $555 million and intends to put it under the Nest brand, which it also acquired recently. Dropcam makes home security cameras that are simple to set up and can be accessed quickly and easily via an app or web browser. The company had previously raised about $50 million over five years to continue developing its product, and now that investment has paid off to the tune of more than half a billion dollars. In a blog post, Dropcam described itself and Nest as "kindred spirits" aiming to improve historically frustrating home management technology. Google, via the Nest blog, assured current users that nothing would change in the short term, although later on the brands, apps and things like privacy policies will merge. Dropcam concluded: "Our products and technologies are a natural fit and by joining up with nest we can fully realize our vision."

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Devin Coldewey, NBC News

First published June 20 2014, 5:39 PM

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Google Buys Dropcam for $555 Million