Silicon Beach Report June 13: Ring Set to Launch Home Security System

By Samson Amore

June 13, 2018

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After delay, Ring plans to ship DIY security system by July 4; TenantBase pulls in $10.7 million funding round; Revolve contemplates whether to pull trigger on IPO

Ring to Begin Shipping DIY Security System in July

Santa Monica-headquartered Ring Inc.’s DIY home security system will be available to purchase June 14 with a planned ship date of July 4, TechCrunch reports. The launch comes after legal battles and a $1 billion acquisition of Ring by Amazon delayed the product’s market debut. The base alarm system costs $199, with add-ons like motion sensors and range extenders available.

TenantBase Lands $10.7 Million in Funds

TenantBase Inc., a digital real estate broker firm based in Santa Monica, announced June 13 that it received $10.7 million in a funding round, according to SoCalTech. An affiliate of New York-based firm Stonecutter Capital led the funding, and TenantBase said it will use the funds to hire new technology and broker staff, as well as expand nationwide. The company is led by co-founder and chief executive Bennett Washabaugh.

Revolve Looking Into IPO

Revolve, an online women’s and men’s fashion retailer in Los Angeles, is reportedly looking to go public, according to the Wall Street Journal. The company is meeting with underwriters currently and expects a valuation of at least $1 billion. Revolve was founded in 2003 and owes much of its digital traction to social media influencers it has encouraged to promote the brand, the Wall Street Journal reports.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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