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Google is coming into our homes.
The search engine giant has acquired Nest Labs, a company that creates the Nest Learning Thermostat, a one-of-kind thermostat that studies the temperature preferences of its users, for a whopping $3.2 billion in cash. Yes, in cold cash.
Well, $3.2 billion is nothing to Google. That amount is certainly not going to even have a dent on its cash on hand, which I read is about $56.5 billion.
What does the Nest Thermostat do?
This is actually a pretty cool device. It’s way better than the typical thermostat you’re used to because it can work on its own. It thinks and decides what temperature your house needs to have. It familiarizes itself with the patterns of users and create a schedule so you don’t have to manually turn on or off the device.
After installation, it will start studying your behavior and preferences. It will take note of the times you turn it on and what temperature you like. It will also sense when no one is home and lower the temperature so you can save on energy.
After a few days, it will automatically heat the house at the temperature you like at the time when you typically wake up. Let’s say you get up at 6 and your preferred temperature is 70 degrees, it will start warming up a few minutes before 6 so by that time your room is exactly 70 degrees.
When you leave for work, it will cool down, which is a huge money saver, and turns back on when you come home.
Another cool feature it has is it can be remotely operated. It comes with a mobile app that allows you to warm up the house while you’re on your way home. That way, you step inside a house that’s heated just the way you want it.
You know what’s even cooler? It can lower your bill to as much as 20%
That’s not too bad. You get to save money while having a home that’s warm and cozy.
It remembers info each time you adjust the ring. It keeps your home cool enough at night and remembers when you wake up. It saves energy by automatically switching to Away mode when the house is empty. It saves energy. It makes your life easier.
An epic partnership
“Google will help us fully realize our vision of the conscious home and allow us to change the world faster than we ever could if we go it alone,” says Tony Fadell, CEO and co-founder. The other half is Matt Rogers.
Both worked at Apple in the past and they had huge contributions to the revolutionary iPod.
Reports say that Fadell only has Google in mind for a partner and if the deal won’t push through, Nest Labs would continue working on its own.
That’s evident of the amount of confidence the startup has on the giant company, which isn’t surprising. Google is huge. It has all the resources a company like Nest Labs needs to continue producing products like the smart thermostat.
A win-win situation for both companies
Nest Labs gets a major backer. It now has all the resources it needs to continue producing home devices that get to know its users. It also makes a smoke and carbon dioxide detector. It can only get better from this point forward.
As for Google, it has just tucked under its wing a very promising company that can change the game. Reports from Navigant Research say that smart thermostats are expected to be a hit in the next few years, so the acquisition couldn’t have come at a better time.
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