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Amazon Bought Ring for Market Position Despite Internal Concerns

July 30, 2020, 1:28 AM

Amazon.com Inc. went ahead with its acquisition of video-doorbell maker Ring to grab market share in a promising area of consumer technology despite some security and compliance concerns about the startup, according to documents made public on Wednesday.

Four months before Amazon sealed the $839 million deal in April 2018, Chief Executive Officer Jeff Bezos had recommended buying the company.

“My view here is that we’re buying market position -- not technology,” Bezos said in an email released by Congressional investigators looking at market power in big tech. “And that market position and momentum is very valuable.”

Ring has helped ...