Alarm.com Prepares IPO
VIENNA, VA. — Alarm.com, which sells monitored security and home-automation services through security specialists and systems integrators, announced plans to go public. In an SEC filing, Alarm.com reported revenues of $167.3 million for the fiscal 2014 year ending December, up 28.5 percent from the previous year, with net income rising 198 percent to $13.5 million from 2013’s $4.5 million and 2012’s $8.93 million. The company’s year-end subscriber base came to 2.3 million.
Ring Pushes Distribution
SANTA MONICA, CALIF. – Start-up Ring expanded distribution of its $199 Wi-Fi Video Doorbell to 434 Best Buy stores in 50 states and unveiled the $19.95 Ring Chime Wi-Fi speaker, which sounds when the doorbell is pressed. The device was available previously only in catalogs and at Brookstone.com, HSN.com and Amazon. Best Buy’s online store also picked up the doorbell.
The Ring Chime, which plugs into an electrical outlet, became available for purchase at Ring.com on June 1. Without it, the Ring Video doorbell must be connected to existing doorbell wiring to alert people inside a house that someone is ringing. Now people can be alerted even if the doorbell isn’t connected to existing wiring.