Doorbot, which eventually rebranded as Ring, has a net worth of $6 billion USD. During its Shark Tank appearance, Doorbot was seeking $700,000 for a 10% stake. Doorbot’s founder, Jamie Siminoff today has a personal net worth of $400 million from Ring Doorbell’s success.
Doorbot Net Worth (Ring) 2024
| Company Name | Doorbot (Ring Doorbell) |
| Net Worth | $6 billion |
| Annual Revenues | $2.9 billion |
| Founder | Jamie Siminoff |
| Asked For | $700,000 for a 10% stake |
| Shark Tank Deal | No Deal |
| Status | Acquired by Amazon |
What happened to Doorbot after Shark Tank?
While Doorbot (later rebranded as Ring) didn’t secure a deal on Shark Tank, their story after the show is one of remarkable success. Despite no investment, Doorbot continued to gain traction. They attracted other investors and focused on marketing and product development.
In 2015, the company rebranded from Doorbot to Ring, which better reflected its expanding product line beyond just the doorbell. Ring experienced rapid growth, increasing sales and partnerships. They expanded their product portfolio to include various smart home security devices.
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Acquisition by Amazon
This marked a major turning point. Amazon acquired Ring for a staggering $1.2 billion – $1.8 billion, a massive return compared to the $7 million Shark Tank valuation. The Shark Tank pitch is often discussed as a “missed opportunity” for the investors.
Doorbot Founder Net Worth
Jamie Siminoff, the founder of Doorbot/Ring, became a successful entrepreneur with an estimated net worth of around $400 million due to the company’s success. In the past three years, he has invested in many startups further bolstering his net worth.
How did Sharks React to Doorbot’s Pitch?
Siminoff’s demo captivated the Sharks. They witnessed live how homeowners could see and speak to visitors from their smartphones, even if miles away. The market potential seemed promising, riding the wave of the burgeoning smart home trend.
However, negotiations hit a snag. While impressed, the Sharks questioned the Doorbot’s valuation and the size of the target market. Siminoff lowered his offer, but ultimately, no deal was struck.
Then, in 2018, came the ultimate validation: Amazon, recognizing Ring’s potential, acquired the company for a staggering $1.2 billion – $1.8 billion.