NEWS_ "Why did GOOGLE decide to partner with NEST?" Is the aim just realise the vision of the conscious home? Apparently yes and emerging “smart home” market is one of the intriguing challenge in the future investment at the Silicon Valley. Who is going to be the next after Nest?
"This is a momentous day for me, for Matt [Rogers] and for all of the Nest family. This afternoon, we announced that we will be acquired by Google" said yesterday Tony Fadell, Nest’s founder and CEO, after the announcement that Google has entered into an agreement to buy the home automation company Nest Labs, Inc. for $3.2 billion in cash.
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!”
Nest will continue to operate under the leadership of Tony Fadell and with its own distinct brand identity. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US. It is expected to close in the next few months.
According toTony Fadell's blog at the question "why did Nest decide to partner with Google?" he answered:
"Google will help us fully realize our vision of the conscious home and allow us to change the world faster[...]
This decision wasn’t made on a whim – Google has been in the mix in some way or another for about three years of our almost four-year history. In fact, my first meeting with Google as a Nester was before we’d launched. At the 2011 TED Conference, Erik Charlton and I huddled in a corner with Sergey Brin to show him a video and an early model of the Nest Learning Thermostat – he instantly got what we were doing and so did the rest of the Google team when we showed them. In May 2011, Google Ventures led our Series B round of financing, and in 2012, Series C. Time and time again, Googlers have shown themselves to be incredibly like-minded, supportive and as big of dreamers as we are. I know that joining Google will be an easy transition because we’re partnering with a company that gets what we do and who we are at Nest –and wants us to stay that way"
Find more about the acquisition in