Nest co-founder Tony Fadell stepped down from his position as CEO last week. He was replaced by former Charter CTO Marwan Fawaz, a move that some viewed as evidence that Nest may be looking for a buyer.
In an internal memo from Fawaz to Nest employees recently obtained by The Verge, the executive comes right out and says Nest is not for sale. Fawaz reiterated that his skills and passion are around scaling great companies and products to reach more customers. As such, his only agenda for Nest is to scale and grow with innovative products.
Fawaz added that there won’t be a change in strategy or direction and that they need to focus on delivering the great roadmap they have in place which begins with… well, that bit was redacted from the published memo.
Nest, if you recall, purchased video monitoring company Dropcam in June 2014. A year later, the company introduced its first branded wireless home camera called the Nest Cam. That product is strictly meant for indoor use although some still use it outdoors. In fact, there are several third parties that sell weatherproof Nest Cam cases for this very reason which indicates a clear need in Nest’s official product line.
Sources wouldn't delve into Nest’s plans for 2017 although when asked if a home security system was on the docket, one source said “that’s a good guess” and that the idea “would make a lot of sense.”
Nest declined to comment on the matter.