Ring, pondering IPO, launches security system to compete with ADT, Ticketmaster sues brokers for using bots to gain advantage, and EMarketer cuts Snapchat's projected revenue for 2017 by $128 million.
Santa Monica’s Bot Home Automation Inc., better known as Ring, said today it would introduce a home security system, reports the Business Journal. The customer-installed security system, called Ring Protect, would connect with Ring’s other products, including its camera-equipped doorbells, flood lights and security cameras.
Live Nation’s Ticketmaster unit filed suit in California against Prestige Entertainment, Renaissance Ventures and two individuals for allegedly using ticket-buying bots to circumvent its rules and roadblocks put in place to crack down on ticket scalping, reports the Hollywood Reporter. The defendants had agreed in a settlement with New York's attorney general earlier this year to never again use bots.
Snapchat parent Snap Inc. is expected to make $127.5 million less from ad revenue this year than previously forecasted, according to an eMarketer analysis, reports Business Insider. The advertising research firm lowered its 2017 U.S. ad revenue forecast for Snap from $770 million to $642.5 million, explaining Snapchat “remains in the experimental bucket for many marketers.”
Technology reporter Garrett Reim can be reached at email@example.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.