With $1 billion buy of smart doorbell 'Ring,' Amazon expands its empire

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Amazon yesterday bought the Santa Monica-based company Ring for $1 billion. Ring makes high tech doorbells. When someone comes to your home, you can see who it is on your smartphone or computer. Ring’s founder Jamie Siminoff pitched the idea on Shark Tank five years ago, but judges rejected it. What does this purchase mean for Amazon’s empire, and consumer privacy?