Monday, November 29, 2021

Nas Bags $40M After Amazon Invests In Smart Doorbell Company

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*Nas has reportedly bagged $40 million after Amazon purchased a company called Ring, which creates and sells video doorbells.

Forbes reported that Ring was acquired for $1.1 billion. Nas is said to have raked in $40 million from the deal as one of the first people to invest in Ring. He also shares this success with Shaquille O’Neal who has also invested in the company.

While the rapper hasn’t confirmed the news, it’s worth noting that Ring racked up $415 million in sales last year. Critics suggest Amazon plans to integrate Ring into its Amazon Key feature that looks to be the next wave of home delivery service, pe Vibe.com.

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“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our neighbors that make a positive impact on our homes, our communities, and the world,” Ring founder Jamie Smirnoff said in a statement. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.”

Nas teamed up with Anthony Saleh to create Queensbridge Venture enterprise and offered this advice to anyone seeking to make serious money moves similar to his own investments:

“I think anyone can be involved with investing if they have the means, but I’d advise anyone who wants to invest to be careful. You have to study it,” he said in a 2016 interview with CNBC. “It’s not easy to find the projects that are going to generate a return, and you have to invest your time and energy — not just your money — into researching the companies that are going to do big things.”

Since the creation of his venture capital company, the rap legend has successfully backed startups like Genius (formerly Rap Genius), Lyft and SeatGeek.

Ny MaGee
Ny MaGee is a screenwriter and freelance reporter from Chicago -- currently living in Los Angeles and covering A-list entertainment for various outlets, including Emmys.com. She has worked for: Miramax, MTV & VH1, The Jim Henson Company, Hallmark Channel, Paramount Pictures, and for iconic indie film producer Roger Corman.

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