Jamie Siminoff — Founder and Chief Inventor of Ring

Career

• Born in 1976 in New Jersey, US (46 years old)
• Graduated from Babson College with a bachelor’s degree in entrepreneurship in 1999
• Created the world’s first wifi doorbell in his garage in 2011
• Estimated net worth of 300 million US dollars in 2023
• Prior to Ring, he also founded PhoneTag, the world’s first voicemail-to-text company.
• In 2018, Ring was sold to Amazon for US$1 billion.

His company

In 2013, entrepreneur Jamie Siminoff walked into the Shark Tank seeking a $700,000 investment for 10% of his startup, originally called Doorbot. His product was a smart doorbell that would allow homeowners to monitor and communicate with visitors remotely. He was seeking additional funding to help scale the company and expand its marketing efforts. However, he was met with rejection from all of the Sharks and was on the verge of bankruptcy.

Rather than giving up, Siminoff kept working on his company. In 2014, Doorbot rebranded as Ring and launched a successful crowdfunding campaign that raised over $250,000 in just a few days. This success led to additional investment from venture capitalists, and in 2018, Amazon acquired Ring. In 2020, he returned to the Shark Tank — not as a contestant, but as a Shark. Siminoff’s appearance on the show was a testament to the power of resilience and hard work, a key trait of every successful entrepreneur!