|SEASON 5 EPISODE 9|
|Pitch||Video doorbells and security cameras for your smartphone|
|Asked For||$700,000 for 10%|
|Status||Acquired, In Business|
What is Doorbot (Ring)?
Doorbot is the world’s first smartphone doorbell that allows users to see and speak to whoever is at their door from anywhere via an app on their smartphone. It is the first wifi-enabled doorbell that provides two-way communication and one-way surveillance.
Who Owns Doorbot (Ring)?
Jamie Siminoff is the founder of Doorbot. He is a Babson College Graduate with a Bachelor’s degree in Entrepreneurship, and has extensive experience building and selling tech-related businesses.
In fact, Siminoff has been inventing things since he was only seven years old. He is the founder of Phone Tag – the world’s first voicemail to text application which he sold for $17 million in 2009.
He’s also the founder of Unsubscribe.com, a service that unsubscribes and cleans out unwanted emails, which he sold in 2011.
Today, Siminoff continues to work at Ring as CEO and is even using his entrepreneurial skills in the field of medicine – partnering with Dr. Santosh Kesari to develop new and innovative ideas to treat cancer patients.
Jamie Siminoff had always been an inventor, even from a young age, dreaming up new projects and designs.
By the end of 2009, he was already a multi-millionaire and had sold off most of his companies. So in 2010, he turned his garage into his office to focus himself on inventing his next big idea.
Annoyingly though, he couldn’t hear his doorbell ring from the garage—often missing deliveries. To his astonishment, there wasn’t an app for this problem, so he built a WiFi doorbell to notify his phone. At the time to solve a problem, not realizing he’d just invented his new business!
Taking it a step further, he installed a video camera interface so that you could see who was at the door from your phone. Jamie’s wife then remarked about how much safer she felt, and feeling he was onto something, he began exploring the idea around the concept of home security benefits.
In 2012, he went to market with a design and a small team working out of his garage. Despite some early sales success, the sheer scale and costs associated with mass production proved a challenge. With this in mind, Jamie decided to go looking for investors to come on board.