Google Inc (NASDAQ:GOOG) has acquired Nest for $3.2 billion in cash. Nest Labs has started selling their learning thermostat product since 2011. The company recently launched the Protect smoke alarm last year. Nest founders Tony Fadell and Matt Rogers will both join Google as part of the acquisition. Rogers was one of the first engineers to work on the iPhone at Apple. Fadell has been credited as the “one of the fathers of the iPod.”
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Nest Labs is reportedly going to raise somewhere between $150 and $200 million, according to Re/Code. The valuation of Nest would be between $2 and $3 billion. Nest Labs is known for building smart home products like thermostats and smoke alarms. The investor in this round is believed to be Yuri Milner’s DST along with existing investors like Google Ventures, Shasta Ventures, Kleiner Perkins, Generation Investment Management, Lightspeed Venture Partners, Venrock, and several others. Nest raised $80 million in funding around a year ago with a valuation of over $800 million. The founder of Nest is Tony Fadell, who is known as being the “father of the iPod.”
Nest Labs has upgraded the Nest Mobile app to version 4.0 with a new design for Nest Thermostat and added support for Nest Protect. Nest Mobile version 4.0 has been adapted to support iOS 7. Nest Version 4.0 has animated weather display, detailed “Where” location settings for Nest devices, and support portrait and landscape modes. There is full support for both portrait and landscape modes.
From the same people that brought you the Nest learning thermostat comes a new, high-tech smoke and carbon monoxide detector. Nest Protect has a human voice, which can be set to English, Spanish, or French. The voice tells you if the battery is low. If carbon monoxide is detected, it will produce a loud alarm noise.
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Former Apple SVP Tony Fadell Said Apple Built A Smart-Glasses Prototype, But Did Not Have Time To Release Them
Tony Fadell worked as a senior vice president at Apple between 2006 and 2008. Fadell said that Apple built prototypes of a device that is similar to Google Glass, but did not have time to turn them into actual products. Fadell is currently the chief executive officer of Nest, a company that builds smart-learning thermostats.
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Nest Labs is a smart thermostat company that has acquired MyEnergy. Through the acquisition, Nest will be able to provide customers with information about their energy usage. MyEnergy monitors electric, water, and gas usage. This information is presented in an aesthetic dashboard. The terms of this deal was undisclosed.
Nest Version 3.5 Supports Sunblock, Advanced Fan Control, Cool To Dry, Auto-Tune, and Enhanced Auto-Away
Nest is a company that has designed a sensor-driven, WiFi-enabled, and programmable thermostat. The company has two generations of the thermostat that is available on the market today. Nest is compatible with most standard HVAC systems that uses central heating and cooling. If you own a first or second generation Nest thermostat connected to WiFi, you will automatically get a software update in the next few days. This software version is 3.5 and below is a list of some of the new features.
The first-generation Nest device is now selling for $198 at Lowe’s this week. This is down $30 from the original price. This deal will be available from Thursday to Monday so that you have plenty of time to buy one. The first generation is a little bit thicker and the second generation works with more types of home heating and cooling systems. You can view the deal here.