In late 2011, a company called Nest Labs launched a product the tech world couldn't stop talking about. But the product isn't something that normally gets people excited. Nest is perfecting the thermostat. And it's been such a big hit, investors have decided to pour a boatload of money into the company. According to GigaOm's Katie Fehrenbacher, Venrock, Google Ventures and others have given Nest $80 million at an $800 million post-money valuation. Fehrenbacher says Nest is shipping between 40,000 and 50,000 thermostats per month. A good number of those items are being shipped to Europe, and Nest's devices are sold in Lowe's, Best Buy, and on Apple's website. It retails for $250.
To read the full, original article click on this link: Suddenly, A Startup That Makes Thermostats Is Worth $800 Million - Business Insider
