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Old Jan 13, 2014, 03:19 PM   #1
MacRumors
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Google Acquiring Tony Fadell-Founded Nest for $3.2 Billion




Google is acquiring Nest, the smart-home appliance maker that is behind the Nest Thermostat and the Nest Protect smoke detector, for a reported $3.2 billion in cash.

iPod co-creator Tony Fadell is the co-founder of the company alongside another former Apple employee, Matt Rogers. Nest tweeted that it will operate independent of Google.
Quote:
Big news! @Google acquiring Nest to help fulfill our goal of reinventing unloved home products. Nest will stay Nest. http://t.co/0L8hNBhmYc - Nest (@nest) January 13, 2014
Quote:
Larry Page, CEO of Google, said: "Nest's founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family. They're already delivering amazing products you can buy right now--thermostats that save energy and smoke/CO alarms that can help keep your family safe. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!"
According to Re/code, Nest has raised more than $80 million in venture funding and was scheduled to close another $150 million round soon.

Update: Nest has posted an article about what will happen to the company going forward, and perhaps most importantly, addressing what customer data will be shared with Google:
Quote:
Will Nest customer data be shared with Google?

Our privacy policy clearly limits the use of customer information to providing and improving Nest's products and services. We've always taken privacy seriously and this will not change.
Re/code reports that Google was the only serious bidder for Nest and Apple was not interested in the company.

Article Link: Google Acquiring Tony Fadell-Founded Nest for $3.2 Billion
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Old Jan 13, 2014, 03:20 PM   #2
Mwongozi
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RIP iOS compatibility
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Old Jan 13, 2014, 03:20 PM   #3
KPOM
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I wonder if they'll just expand compatibility to Android, or replace iOS compatibility with Android compatibility. Hopefully it's just the former.
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Old Jan 13, 2014, 03:20 PM   #4
Razeus
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Quote:
Originally Posted by Mwongozi View Post
RIP iOS compatibility
Google has always given support to iOS. Don't be absurd with your sensationalism.

If this was the other way around, I'd be concerned.
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Old Jan 13, 2014, 03:20 PM   #5
RoboCop001
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Oh, come on!
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Old Jan 13, 2014, 03:20 PM   #6
jmthigpen
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Apple should've scooped up that one.
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Old Jan 13, 2014, 03:20 PM   #7
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Gotta be bragging rights or something specific in there they want to exploit, as I just can't see how that company will pull any profits near the "B" word any time soon.
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Old Jan 13, 2014, 03:20 PM   #8
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Almost bought one of these.....

Then I found out that they couldn't switch 230VAC. Kind of eliminates most of the combi boiler systems in the Uk at least?
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Old Jan 13, 2014, 03:21 PM   #9
captain cadet
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Cue the complaining of google buying nest in 3.....2.....1
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Old Jan 13, 2014, 03:21 PM   #10
wlossw
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so how long till your smoke detector is trying to sell you fire insurance...
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Old Jan 13, 2014, 03:21 PM   #11
ct2k7
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Oh my... will it survive or become the next Sparrow?
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Old Jan 13, 2014, 03:21 PM   #12
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Quote:
Originally Posted by jmthigpen View Post
Apple should've scooped up that one.
Makes me wonder if Apple just didn't want Tony Faddell back.
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Old Jan 13, 2014, 03:21 PM   #13
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Now Google can run stats on home temperature settings.

I swear they're only a couple steps away from taking over the world.
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Old Jan 13, 2014, 03:21 PM   #14
luckysob
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Here's to Honeywell controls to continue to dominate the market for home HVAC.
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Old Jan 13, 2014, 03:21 PM   #15
usersince86
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...and the google nest-egg keeps growing.

OK for iOS, but not great.
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Old Jan 13, 2014, 03:22 PM   #16
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"Want to control your NEST thermostat remotely? Log in with your Google+ account now!"
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Old Jan 13, 2014, 03:22 PM   #17
H2SO4
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Originally Posted by captain cadet View Post
Cue the complaining of google buying nest in 3.....2.....1
Too late......
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Old Jan 13, 2014, 03:22 PM   #18
musser
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Abandoned Nest

Well, that's ends MY interest in ever buying any of these. If Google's involved, I'm gone. They're trying their best to own us all. Well, not me!
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Old Jan 13, 2014, 03:22 PM   #19
Way2Poppy
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Noooo!

For Sale:

2 Nest Thermostats
3 Nest Protects


This is a shame. Google sucks.
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Old Jan 13, 2014, 03:23 PM   #20
thelonelylimo
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wow, I sure am glad I never bought into anything from Nest yet. I had planned to, but now I would need to create a Google+ account to change the temperature in my house.
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Old Jan 13, 2014, 03:23 PM   #21
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Great, now every time I burn toast, I'll be auto-enrolled in Google+.
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Old Jan 13, 2014, 03:24 PM   #22
HobeSoundDarryl
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I think the products are pretty cool… but $3.2B in cash??? Wow!

Congratulations to those guys for cashing in to what is seemingly the max. Makes me want to go out and build a wifi-enabled trash can or paper towel rack.

I can't believe how much money will change hands in silicon valley for what seems to be relatively niche-y products. Again, not putting down THESE products or THESE guys- just stunned that a company would pay that much.

Last edited by HobeSoundDarryl; Jan 13, 2014 at 09:33 PM.
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Old Jan 13, 2014, 03:24 PM   #23
macchiato2009
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i don't understand how these companies, worth billions at purchase, would ever profitable by creating very expensive gadgets supposed to replace cheap products

one can find a thermostat for less than $50 and a smoke detector for $10


the potential value of geek customers would never match this amount
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Old Jan 13, 2014, 03:25 PM   #24
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Can't wait till Google requires G+ to use it and allows your circles to change your settings unless you opt out. /s
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Old Jan 13, 2014, 03:25 PM   #25
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Quote:
Originally Posted by jmthigpen View Post
Apple should've scooped up that one.
I disagree. One of Apple's greatest strengths is their ability to focus. And thermostats - or any home appliance - doesn't really fit with Apple's business strategy. (Admittedly, it would have been nice...)

But with Google buying Nest - does this mean Google will know when we're at home? Or will they / could they use that data for marketing purposes? I hope we get some clear answers to those questions.
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