Nest CEO Tony Fadell on the news that Google has entered an agreement to acquire his startup:
When Matt and I started Nest in 2010, we were determined to change our homes and the world around us. Starting a business focused on the lowly thermostat seemed like a crazy idea at the time, but it made all the sense in the world to us. That little device that went unnoticed and unchanged year after year on the walls of our homes was a lost opportunity to save energy and money. We knew we could do better.
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 continued to go it alone. We’ve had great momentum, but this is a rocket ship.
As I previously mentioned, I’m incredibly biased here.1 But that doesn’t change the fact that Nest is a remarkable company that was able to take some Apple DNA and translate it into a startup. One working on both hardware and software, no less. It should be surprising to no one that Google saw massive value and opportunity here.
Huge congrats to team Nest as well as my colleagues at Google Ventures.
I don’t want to say I’m bummed by this… But it’s just a little deflating to the fighting spirit when small companies sell.
I mean I get it. I’m happy for them. Just, ya know, a little sad.