Nest founder Tony Fadell has announced that he is leaving the company which he founded back in 2010 and then sold to Google in 2014 for $3.2 billion.
The news of the CEO’s departure was announced on the Nest Blog and he will work as an advisor to Nest and Google’s parent company Alphabet.
When Matt Rogers and I founded Nest six years ago, neither one of us imagined the company and products would take off as quickly as they did. We hit the ground running and – along with the rest of the Nest team – haven’t paused since. Nest revenue has grown in excess of 50% year-over-year and today, millions of people in more than 190 countries use Nest products, which include hardware, software, services, and the Nest-backed Thread wireless protocol.
In 2015 alone, we shipped four new hardware products and five significant App releases, and the Nest Learning Thermostat 3rd Gen reached the one million unit milestone in half the time as the previous generation! More than 18,000 developers are now building their own products and services on our platform, and more than 12,000 retail stores carry our thermostats, smoke & CO alarms and cameras. Considering that when Nest launched less than five years ago, connected home sections didn’t exist at retail, it isn’t an understatement to say that the connected home went mainstream because of Nest. We’ve delivered ground-breaking technology and design, received consistently high marks from customers, and achieved double-digit growth for over four years.
Marwan Fawaz who was previously at Motorola will take over as the new CEO of Nest, you can find out more details at the link below.