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.

Amazon.com has agreed to buy connected-doorbell startup Ring for about $1 billion, a person familiar with the matter said. The move helps Amazon expand further into the consumer market, including providing security for package deliveries. J.P. Morgan Chase & Co. advised Ring on the sale, said the person, who asked not to be identified because the matter is private. Amazon has been pushing for a bigger presence in homes through connected devices such as its Echo smart speaker with the voice-activated assistant named Alexa. Buying Ring gives the e-commerce giant another touch point with customers, said James Cakmak, an analyst at Monness Crespi Hardt & Co. "For this specifically it A) builds connection for further strengthening trust between the brand and consumers, B) increases market for delivery, and in turn, frequency, C) moves company along path to same day/same hour efforts while everyone else is battling the two day war," Cakmak said in an email.