$1 billion for Ring:
U.S. e-commerce giant Amazon paid $1 billion for Ring, a startup that relies on Ukrainian experts.
Ring has its most important office in Ukraine, where it has hired 500 Ukrainians, the number that the company plans to double after Amazon made the purchase.
Using Ring’s technology, people can record live videos of their house entrances. The video is then wirelessly broadcast to the owners’ smartphones so they can greet and talk to visitors remotely. The built-in cameras can even assess the body language of anyone who approaches, and alert the homeowner if a caller’s actions look suspicious.
The technology was invented and prototyped by U.S. researcher Jamie Siminoff, but was developed mainly by Ukrainian experts.