From the Shark Tank to Bezos: Amazon buys Ring for $1 billion | AlphaStreet
If there is a story of chance, luck, failure, and success all bound together by fate, it is the story of Ring. Back in 2013, when Jamie Siminoff pitched his idea "DoorBot" to the investor-judges of Shark Tank in its fifth season as "DoorBot" for a measly $700,000, it did not go well. Walking away with nothing from that episode, he went on to work on his idea of a video doorbell connected to your smartphone through an app. The judges might have found it flat, but the public went crazy after the airing of the episode, bringing about $5 million more in sales. Soon, Siminoff rechristened his brand to "Ring" — a more approachable and financially...
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