Nas Reportedly Secured A $40Million Bag With Amazon’s Acquisition Of Ring
Amazon, ruler of the digital world has added to it’s empire recently with its acquisition of video doorbell company Ring for $1Billion. Rapper Nas and Queensbridge Venture Partners was one of the original investors in the company. They reportedly received $40Million in the exit.
According to The Wallstreet Journal, the acquisition, believed to be Amazon’s second biggest after its roughly $13.5 billion purchase of Whole Foods last year, is the latest in a string of moves that signal the company’s ambitions to enter a staggering variety of markets. The Ring acquisition gives Amazon a foothold in the connected home security market.
Ring’s fonder pitched the company on Shark Tank back in 2013, then under the name Door Bot. The Sharks rejected the concept. The company went on the secure outside venture funding, including Nas and Queensbridge Venture Partners, and create a new category in home security.
See how the Sharks slept on a Unicorn below:
A Mogul In The Making
Nas is quietly making a name for himself as one of the most active rappers in the tech industry. His VC firm has invested in other notables companies such as Lyft, Casper, Genius (formerly rap genius), Tradesy, General Assembly, Bevel, and many more.
Do you think Nas has a chance to leapfrog Diddy and Jay to be the first Hip-Hop Billionaire? Share your thoughts in the comments.