Wouldn’t hold back a revaluation of the companies share price, lots of technology companies have had large valuations but not much profit.
Nest, the home automation company, was acquired by Google in 2014 for a whopping $3.2 billion. At the time of the acquisition, Nest had a portfolio of three main products: the Nest Learning Thermostat, the Nest Protect smoke detector, and the Nest Cam security camera.¹As for their financials, Nest reportedly generated $100 million in revenue in 2013, with estimates suggesting they would reach $300 million in revenue by 2014. However, the company was not profitable at the time of the acquisition, with reports suggesting they had losses of around $100 million in 2013.²Despite the losses, Google's acquisition of Nest marked a significant milestone in the growth of the smart home industry, and Nest's products have continued to evolve and expand under Google's ownership.
4.27 billion in todays usd
dyor
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