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The story of Google’s investment that started with great hope and ended in a $555 million regret

  • July 28, 2024
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In June 2014, Dropcam, a home camera surveillance startup founded by Greg Duffy, was acquired by Google Nest. Bought for $555 million It had a huge impact in

In June 2014, Dropcam, a home camera surveillance startup founded by Greg Duffy, was acquired by Google Nest. Bought for $555 million It had a huge impact in the technology world.

This purchase agreement, made with great hope by the parties, was later signed by the managers of both parties. controversial processes It paved the way for this to happen.

After Dropcam was moved to Google Nest, sales started to decline dramatically at record levels.

Before the merger with Google, Dropcam had great sales figures through various sales channels and was developing new products. However, after the sale The picture began to change…

Dropcam’s product development projects include events within Google Nest victim of internal conflicts.

For example, Dropcam’s security product called Tabs and projects to develop outdoor cameras was put away.

Disruption of the balance within the company and its consequences tense work environmentcaused most of the employees to leave.

What happened after the acquisition raised the question of whether this acquisition was a $555 million mistake.

Duffy stated that things started to go wrong after Google Nest acquired Dropcam, and that Google Nest executive Tony Fadell was responsible for this. to mismanagement The bond fueled the war between the parties.

According to Duffy, Fadell and the team oppressive He was a manager, but he didn’t understand the technology well enough. For this reason, according to Duffy, product development and other management phases are responsible for all bad processes. It was Fadel!

Fadell responded to this issue by saying that Dropcam staff were not performing as expected and were uniformly they were inadequate He took no responsibility and said they were leaving the job because of this.

As a result of these fights between the two Duffy left the company in 2015 and stated that Fadell’s management style was hindering the company’s progress and causing product development processes to grind to a halt. He regrets selling Dropcam. expressed!

Source: Vox, the information

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