Google Acquiring Tony Fadell-Founded Nest for $3.2 Billion

MacRumors

macrumors bot
Original poster
Apr 12, 2001
47,530
9,363



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.
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
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:
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
 

KPOM

macrumors G5
Oct 23, 2010
14,553
3,103
I wonder if they'll just expand compatibility to Android, or replace iOS compatibility with Android compatibility. Hopefully it's just the former.
 

chirpie

macrumors 6502a
Jul 23, 2010
639
173
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. :confused:
 

H2SO4

macrumors 601
Nov 4, 2008
4,481
4,323
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?
 

Corrode

macrumors 6502a
Dec 26, 2008
988
2,111
Calgary, AB
Now Google can run stats on home temperature settings.

I swear they're only a couple steps away from taking over the world.
 

nzalog

macrumors 6502
Jul 25, 2012
274
2
"Want to control your NEST thermostat remotely? Log in with your Google+ account now!"
 

musser

macrumors member
Dec 16, 2004
39
0
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!
 

thelonelylimo

macrumors 6502
Oct 23, 2010
487
18
Ohio
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. :cool:
 
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:

macchiato2009

macrumors 65816
Aug 14, 2009
1,258
1
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 :rolleyes:


the potential value of geek customers would never match this amount :eek:
 

GreatMightySymp

macrumors member
Oct 8, 2013
39
1
Can't wait till Google requires G+ to use it and allows your circles to change your settings unless you opt out. /s
 

SwiftLives

macrumors 65816
Dec 7, 2001
1,338
240
Charleston, SC
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.
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.