Doorbot Shark Tank Success Update
Doorbot buys Ring.com with new partner Richard Branson
When Jamie Siminoff first appeared on the Shark Tank in Season 5, the smart doorbell known as the Doorbot was launched only nine months before meeting the Sharks. The two-way audio and one-way video doorbell already had over $1 million in sales with $250,000.00 just within the past month. It seems everyone loved the idea answering the front door from anywhere on your smartphone: we'll everyone except for the Sharks.
The Sharks appeared to like the Doorbot now re-branded as Ring Wi-Fi Enabled Video Doorbell, but surprisingly, none of the investors was willing to make Siminoff a decent offer even with these impressive early online sales. Perhaps it was because Jamie was asking for a $700,000.00 investment in exchange for a 10% stake in the brand new business? The $7 million valuation may have seemed inflated for a brand new product at the time, but in less than two years the Doorbot's valuation is now closer to $70 million making it one of the biggest Shark Tank Success Stories in the History of the Show.