First He Lost On “Shark Tank” and Then He Became a Billionaire

In 2013, Jamie Siminoff pitched his product on the business reality series Shark Tank. He was seeking a $700,000 investment for a 10% stake in his company, but none of the Sharks took the deal. The product was the extremely popular Ring video doorbell, which allows users to see and speak with someone at their front door through a smartphone, no matter where they are. Though he was broke at the time, Siminoff wasn’t discouraged. He drove home and went back to work on his product. Fast-forward five years and in early 2018 he sold his company to Amazon for $1.2 billion. Later that year, Siminoff appeared as a guest Shark on Shark Tank.  Today, no longer a CEO, Siminoff is happy to have the time and freedom to indulge his creative side — only next time around, he won’t need help from Shark Tank.