The Internet giant Google has announced that it has bought Nest Labs, the maker of a family of iPhone-controlled smart thermostat and smoke and carbon monoxide detector devices for connected homes. Nest will continue to operate independently of Google and won't share customer data with them. Nest was founded by the brilliant engineer Tony Fadell who used to work at Apple where he was charged with the iPod music player project.
Yes, the iPod Godfather now works for Google! The transaction is valued at a whopping $3.2 billion in cash. Google paid quite handsomely to buy Nest, didn't they? Considering Nest raised about $80 million in venture funding, the acquisition qualifies as one of the most profitable exit strategies among Silicon Valley startups.
iDownloadBlog's Jeff Benjamin reviewed the Nest learning thermostat and was impressed with its sleekness and functionality, the $249 price point be damned...