Shark Tank Reject "Ring" Acquired By Amazon For Over $1 Billion


Just because a product or business isn't purchased on Shark Tank by one of the cut-throat investors, doesn't mean it's destined to fail. Copa Di Vino comes to mind after two "failed" pitches on Shark Tank but now enjoying $10+ million in annual sales. But nothing is quite as impressive as Jamie Siminoff's company "Ring" (originally called DoorBot). This smart doorbell with audio and video options was pitched at $700,000 for 30% of the company and it was rejected by the sharks at that valuation. But Siminoff stayed strong, didn't give up, and leveraged the exposure from Shark Tank, growing product sales to millions of dollars per year. Just this year Amazon acquired Ring for between $1.2 and $1.8 BILLION dollars! This goes to show that determination breeds success.

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