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Smart Doorbell Maker Ring Raising Money at Close to $1 Billion Value

Ring, a maker of camera-enabled doorbell products, is raising $160 million at a valuation of nearly $1 billion, nearly double from only a year ago, according to a securities filing and investors.

The rapid rise reflects investor interest in smart home products, particularly doorbell cameras, which are useful for tracking package delivery and home security.

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CLARIFICATION: An earlier version of this story gave an incomplete interpretation of one of the terms of the fundraising. The provision guaranteeing new investors double the price they paid in an acquisition before mid-2019 protects new investors from a near term acquisition that doesn’t involve a big increase on the latest valuation. It doesn't necessarily mean that Ring is expecting to be acquired, as was stated in an earlier version of this article. This story has been updated. 

Preet Anand commented on this article.
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