Season 2, Episode 3: Nest
Acquired
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Nest's Acquisition of Dropcam
In June 2014, Nest acquires Dropcam, which was a very cool company that made Wi-Fi-connected cameras. They had raised at that point about $145 million. So that means they burned roughly $100 million on the product. In April 2014, they have to halt sales of the second product of Nest Protect of the Smoke Alarm and Carbon Monoxide System because apparently there was a way for the alarm to accidentally be disabled through three options.
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