- Apr 12, 2001
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.
According to Re/code, Nest has raised more than $80 million in venture funding and was scheduled to close another $150 million round soon.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!"
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:
Re/code reports that Google was the only serious bidder for Nest and Apple was not interested in the company.Will Nest customer data be shared with Google?
Article Link: Google Acquiring Tony Fadell-Founded Nest for $3.2 Billion