Amazon Acquires Ring, Maker of Video Doorbells

The acquisition, believed to be Amazon's second biggest after its roughly $13.5 billion purchase of Whole Foods last year, is the latest in a string of moves that signal the company's ambitions to enter a staggering variety of markets. From its start as an online bookseller in Chief Executive Jeff Bezos's garage more than two decades ago, the company has expanded into delivering its own packages, building a dominant cloud computing services business and becoming a brick-and-mortar grocer overnight with its acquisition of Whole Foods. The latest deal plays to Amazon's efforts to control the devices that power smart homes, an area in which it is becoming a dominant player. Certain Ring doorbells and cameras already connect with its virtual assistant, Alexa. Package theft has become an increasing problem for e-commerce companies as consumers order more online.