Nas Invested In A Doorbell Company That Amazon Just Bought for $1B
Legendary rapper Nas stands to make millions off a recent investment. The Queens rapper and his firm Queensbridge Venture Partners reportedly invested in a recent startup called Ring. The firm has made at least 128 investments according to Crunchbase including other startups like Lyft and Drop Box. The latest investment Ring is a successful tech business that focuses on video doorbells, home cameras and security.
Ring has over 2 million customers and raked in over $100 million in revenue last year. Last week Amazon announced it was buying the video doorbell company. According to Reuters, the deal is worth just over $1 billion. It is not known how much Nas’s venture capital firm invested but it’s safe to say it was a smart move.
After the deal was finalized Ring released a statement, “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.”