Shark Tank is one of the most famous reality shows globally. The first edition of Shark Tank India is recently completed and the audience enjoyed the concept and it was a success. Here is the story of Jamie Siminioff who was rejected by Sharks and later returned as a judge. The inspirational story is of Jamie Siminoff, who was rejected by the Sharks in the Shark Tank in late 2013. Jamie Siminoff has started a Wi-Fi-enabled video doorbell company from his garage in Los Angeles.
Journey Of Jamie Until Shark Tank Rejection
According to Inc, it was in 2011 when Jamie Siminoff was 35 years old. He had his midlife entrepreneurial crisis. While tinkering in his garage, Ring founder Jamie Siminoff invented the world’s first Wi-Fi video doorbell. Initially, believe it or not, Ring was just a way for him to see any delivery person at the front door while he was in his garage.
In 2013, Jamie went to Shark Tank. As a pitcher, he pitched his idea of startup Doorbot, the maker of a doorbell with a camera that sent the video to users’ smartphones. Though Sharks liked his idea and appreciated it, but none of the sharks invested in his idea. One of the sharks, Mark Cuban said, “I think it’s a great business. I think you’ll be successful. It will be worth $20 million. I just can’t invest in something that’s not going to be $70 million someday.” Jamie Siminoff returned home dejected.
The Amazon Deal
Jamie’s TV appearance through Shark Tank gave him and his company much-needed visibility. It attracted the attention of Richard Branson. He went on to invest in Jamie Siminoff’s idea. After years of hard work, dedication, and rebranding it to the new name Ring, the new journey began and it is of Amazon Deal. In February 2018, Amazon acquired Ring in a deal reported to be worth of over more than $1 billion.
Return To Shark Tank
In the year 2018, Jamie Siminoff got a call from the Shark Tank producer inviting him to appear as a guest Shark in the 2018 season. Jamie says, “That was a quick yes for me. Ring would never have survived or been where we’ve been if it hadn’t been for that exposure.” Though Jamie did not crack the deal, appearing on the show gave him much-needed exposure and allowed him to live his dream. According to Inc, Jamie was eager to help others do the same.
When Jamie Siminoff became a shark himself, he says, he understands how the Sharks had failed to recognize the potential in Doorbot, given the speed with which information flies around on the show. Well, that is a really impressive and inspirational story to kick start your journey towards your dreams, isn’t it?