Nas the rapper allegedly makes 40 million dollars after Amazon buys smart doorbell security company Ring. L.A. Times state’s the sale of Ring is the biggest exit for a Los Angeles-based company since the sale of Dollar Shave Club for $1 billion in 2016.
Nas Makes an Investment the Sharks Rejected!
In 2013 the smart doorbell security company Ring was passed up by Shark Tank. In 2018 the company sells for 1.2 billion dollars to Amazon.
Ring is a match for other smart home investments Amazon is making. Investments include smart thermostats and smoke detectors, lights and other devices that connect to Bluetooth and Wi-Fi.
Nas owns Queensbridge Venture Partners. The venture capital company has been investing in companies such as Lyft, Dropbox, Rap Genius, and SeatGeek, just to name a few. Ring, the savvy doorbell security platform has generated over 2 million customers and made 160 million in revenue in 2016.
Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our Neighbors that make a positive impact on our homes, our communities, and the world. We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods. – Ring
Nas has yet to go on record about the acquisition, but gains to make big bucks off the sale. More rappers are taking their talents to silicon valley and taking ownership to another level. Bevel is another company Nas has invested in. A shaving company for Men of Color.
Will Nas be Hip Hop’s next billionaire? Leave your thoughts and comments below.
The Moment The Sharks F’ed Up
The creator of Ring asked for $700,000 in exchange for 10 percent stake in the company. The sharks were not impressed. I bet they are kicking themselves in the butt today!
Latest posts by mikewpro (see all)
- Black Owned Businesses Got The Short End of the Disaster Relief Funding. - May 4, 2020
- Seven Ways to be More Profitable in Your Small Business - May 3, 2020
- How Do I Find Black Businesses? - May 3, 2020