Doorbot (Ring) Net Worth, Founder, Shark Tank Appearance, Latest Updates and Everything
Doorbot, later rebranded Ring, is a manufacturing company of home security and smart home devices acquired by Amazon. The company mainly produces intelligent doorbells, alarm systems, and home security cameras.
The founder’s vision, Jamie Siminoff, created a massive wave in the market, and Ring quickly became a household name for home security. The company continues to maintain a firm root with a stable net worth.
Here, we will explore Doorbot (Ring) net worth, shark tank appearance, and the latest updates.
Doorbot (Ring) Product Details |
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| Founder | Jamie Siminoff |
| Founded | November 15, 2013 |
| Company Name | Ring LLC |
| Location | Santa Monica, California, U.S. |
| Products | smart doorbells, home security cameras, and alarm systems |
| Appearance in Shark Tank | 2013, Season 9 |
| Asked for Investment | $700,000 For 10% equity |
| Finalized the Deal | No |
| Sharks | No Sharks |
| Business Status | Active |
| Official Website | www.ring.com |
| Net Worth (2024) | Estimated $6 billion |
Ring Net Worth 2024
Doorbot’s (Ring) net worth is estimated at around $6 billion, and the company’s annual revenue is $2.9 billion. While appearing on Shark Tank, Siminoff sought $700,000 for a 10% stake.
Who is the Founder of Ring?
Doorbot was founded by Jamie Siminoff, an American entrepreneur, in November 2013. It raised $364,000 via Christie Street, more than it requested. The creation of the Ring first struck Siminoff’s mind in 2011. Initially, he faced many challenges, as no one was ready to invest in his project.
The success story of Ring
Ring’s success did not occur in one day, as it took years of hard work to obtain a successful position in the market. Its appearance on Shark Tank helped to boost the product’s sales, even though it did not secure a deal on the show. The show gave Doorbot great exposure by capturing the public eye.
In September 2014, Doorbot rebranded as Ring. In 2016, the former American professional basketball player Shaquille O’Neal invested $1 billion in Ring and became the company’s marketing spokesperson.
In 2018, Amazon acquired Ring for more than $1 billion. That deal allowed the company to expand its product line and allow a large scale of operations. Ring’s products started to reach more homes worldwide.
What is a Ring?
Ring mainly produces home security and smart home devices. Its most important product is a smart doorbell. Its features include a high-quality camera and a motion sensor. The microphone and speaker in the product allow two-way audio communication. The doorbell can also integrate with the Neighbors mobile app, allowing you to receive notifications when it rings.
In 2015, the company introduced its second product, “Stick-Up Cam,” a wireless IP camera. In 2018, the product was updated to a cylindrical form, and its features include two-way audio and battery, which has wired and solar power options. The other Ring products include an alarm, an always-home camera, automotive security, and a robotic home security guard (Astro).
Ring Shark Tank Appearance
Siminoff and Doorbot appeared in an episode of the reality series Shark Tank in 2013, with the intention of raising $700,000 for his company. The sharks liked the idea of his product, but none of them agreed to invest in his project except Kevin O’Leary.
He offered Siminoff $700,000 as a loan with a 10 percent commission for every sale until the loan amount was repaid. He also asked for 7% loyalty and 5% equity. Siminoff declined Kevin O’Leary’s offer, but his appearance in that episode gained popularity for the product’s future growth.
Ring after Shark Tank appearance
Despite not securing a deal on Shark Tank, Ring continued to attain remarkable success. The company attracted a lot of investors and concentrated its expansion of products.
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