Nest, the smart thermostat from ex-Apple godfather Tony Fadell, has won rave reviews for its sleek design and energy efficiencies. The company has also just won (that is, closed) a round of $80 million, according to GigaOm, at a valuation of $800 million.
According to GigaOm's sources, Nest is worth the high valuation, especially considering its shipping somewhere between 40,000 to 50,000 units per month. While shipments do not necessarily equate with sales, it's unlikely Nest would be producing units at such a speedy clip if it wasn't selling at least a decent share of them--in other words, it's doubtful Nest could afford to have so many units sitting in a warehouse somewhere. Imagining Nest was selling somewhere in the vicinity of 40,000 units per month, at that pace and at $249 per unit, Nest would be seeing roughly $119 million in annual revenue, if our back of the envelope math is correct.
Not too bad for a thermostat maker, no?