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December02

Nas Reportedly Makes $40M After Amazon Buys Ring A Smart Doorbell Company

Nas has made a name for himself in Silicon Valley. Now that Amazon has acquired the company for a whopping $1.2 billion, Nas has earned a pretty penny for his early investment in Ring, a smart doorbell company.

WeBuyBlack reports the rapper has made over $40 million in the deal. While the rapper hasn’t confirmed the news, it wouldn’t be surprising. Ring racked up $415 million in sales last year, a huge jump in sales from their 2016 sales of $170 million. Critics suggest Amazon plans to integrate Ring into its Amazon Key feature that looks to be the next wave of home delivery service. The company released a statement about the big news this week.

“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,” founder Jamie Smirnoff said. “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.”

Read more at VIBE

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