Amazon buys California-based video doorbell startup Ring

SAN FRANCISCO – Amazon confirmed Tuesday that it bought video doorbell startup Ring, in a move that could help the internet giant's delivery arm reach into people's homes. Financial terms of the acquisition were not disclosed, but online reports valued the deal at more than $1 billion. "We're excited to work with this talented team and help them in their mission to keep homes safe and secure," an Amazon spokesperson said. California-based Ring came into the spotlight with a failed quest for funding about five years ago on reality television show Shark Tank. Ring went on to win backing from the likes of billionaire Richard Branson and Amazon's Alexa Fund.