From not getting a deal on Shark Tank as Doorbot to rebranding as Ring and getting the premium name Ring.com to being acquired for more than $1billion.
Jamie Siminoff the founder of the company was interviewed by James Iles of Namepros awhile back.
Venture Beat covered the acquisition:
Amazon has acquired Ring, maker of smart home doorbells, cameras, and security systems, according to GeekWire. The company was acquired for more than $1 billion, according to Reuters. The acquisition may be announced later today and was likely made to fuel its fight for the emerging in-home delivery and in-home services market.
Amazon debuted its in-home delivery service Key and Cloud Cam last October. A day earlier, Assa Abloy, owner of one of the world’s largest smart lock companies, acquired August Home, following the start of its in-home delivery trial.
August Home began to experiment with in-home services in 2015 to grant access to repairman or plumbers as well as vacation rental companies like Airbnb and HomeAway.
Mark Cuban is a clown for various reasons. His relationship with Chandler Parsons was extremely awkward. Not surprised he passed on Ring, and not surprised he ran his basketball team like a frat party. Feel sorry for the women subjected to abusive behavior at his workplace.
Thanks Raymond, great article. The Sharks failed with this biggie and whoever came up with the initial $5.5M funding is laughing, as well as later investors such as Ricard Branson.
In the linked namepros interview by James Iles with Jamie Siminoff, there are some gems, including:
Q: Can you reveal the price you paid for Ring.com? A: I will not (confidential information) but we definitely overpaid in terms of what the direct asset is worth in my opinion. However when used with the business it was a great investment.
Q: Do you think you could have achieved the same level of success without owning Ring.com? A: It is never one thing that creates a success; however, I think the domain has been key to our rise as a leader in the consumer electronics and security business.