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.

Now Read This: 

Entrepreneur Inspiration: Amazon's Humble Beginnings

Read More Recent Articles From Lean Startup Life:

Lean Startup Lifer:

My photo

Owner of Bootstrap Business & Schiemer Consulting. Digital Strategist & Social Media Specialist. Inbound Marketer. Online Reputation Manager. Published Writer. Entrepreneur. Ranked a Top 100 Social Media Marketing Influencer and Voted a Top 20 Business Blogger. C-Store Top 40 Under 40. Over 30,000,000 Website & Media Views Worldwide. Retail Digital Marketing Manager. Social Media Manager. Join 250,000+ others and follow all his Social Media AccountsMike Schiemer Builds Better Business.