A heartwarming video going viral on social media platform X tells the amazing story of Jamie Siminoff, the inventor of the world’s first Wi-Fi video doorbell, Ring. This video captures the journey of Siminoff, who first appeared on Shark Tank US in 2013, faced rejection from all the judges who expected his work to be on the show, and was unable to sign a contract and quit the show. It shows how he left the board. Cut until 2018. He was invited as the season’s billionaire investor guest and sat among the judges, who once had no faith in his abilities.
The X account ‘Historic Vids’ shared the video and wrote, ‘In 2013, Jamie Siminoff pitched Doorbot, a smart doorbell, on ‘Shark Tank’ but faced rejection. However, the product was rebranded as Ring. “He was later invited back to ‘Shark Tank’ as a guest judge,” the caption reads.
The video, which captures the American entrepreneur’s journey from Shark Tank pitcher to Shark, has racked up a staggering 14.6 million views on X since it was uploaded five days ago.
In September 2013, Jamie Siminoff appeared on the business reality show Shark Tank using his company’s video doorbell. He wanted to raise his $700,000 in funding for his company, then known as DoorBot. At the time of his appearance on the show, he was reportedly making $1 million a year, according to Yahoo News. He wanted to secure an investment in Doorbot from his one of the Sharks, but his proposal was rejected by all panelists except Kevin O’Leary.
O’Leary offered Siminoff a $700,000 loan in exchange for a 10 percent commission on each sale until the loan was repaid. He also asked for 7% royalties on future sales and 5% equity in the company. Siminoff found these terms inappropriate, rejected the offer and left the show without a contract.
Siminoff then rebranded the company as Ring, attracted investment from a variety of sources, and achieved significant sales growth. Siminoff’s appearance on “Shark Tank” also greatly contributed to the product’s popularity. Siminoff estimated that the episode contributed at least $5 million in additional sales for him.
In 2018, Amazon acquired Ring for $1 billion, making it the company’s second-biggest acquisition after Whole Foods. Siminoff had the opportunity to return to ‘Shark Tank’ as a guest judge for the 2018 season, marking the success of his venture.
The post attracted many comments from social media users. “The doormat has become Ring. The company was first founded as crowdfunding startup Doorbot by Jamie Siminoff in the fall of 2013. The company changed its name to Ring in the fall of 2014 and then began receiving equity investments. In 2018 “Acquired by Amazon for about $1 billion,” one user wrote.
Another added: “He wouldn’t have gotten this far on his own if he hadn’t been rejected.”
