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Earlier this month, Google made headlines by acquiring Nest Labs, the connected home startup, for $3.2 billion in cash. Although Nest has received significant fanfare for its smart products, some have argued that the price is a very generous premium for a small company that only a year ago was valued at $800 million. But, perhaps more importantly, why would Google — given its track record of market successes, strong design and engineering talent, and unique brand reputation — choose to buy its way into the Internet of Things (IoT)?

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To read the original article: So You Want to Build an Internet of Things Business - Gordon Hui - Harvard Business Review