Jamie Siminoff net worth
James Siminoff Net Worth: James Siminoff is an American entrepreneur who has a net worth of $300 million. James Siminoff is the founder and CEO of Ring doorbell. In November 2013, he famously appeared on Shark Tank to market his company, then called DoorBot. DoorBot is positioned as a wifi-enabled “video doorbell” that syncs with users’ smartphones, allowing them to see who’s knocking on the door in real time. DoorBot is also equipped with an anti-theft feature that allows users to pretend they are in the house when they are not.
By the time Jamie appeared on the show, his annual sales had reached $1 million. A very impressive small business. He is looking for investment to take his product to the next level.He asked the sharks to invest $700,000 for a 10% Invest in his company.that is a $7 million Valuation. He received four rejections. One of his offers, from Kevin O’Leary, was a complicated loan/royalty deal that Jamie rejected. After appearing on Shark Tank, DoorBot changed its name to Ring and began selling $5 million worth of products. They also attracted investors like Richard Branson and Goldman Sachs, who eventually poured $200 million into the company. On February 27, 2018, Amazon acquired Ring for $120 million to $1.8 billion. Jamie is believed to own 20-30% of Ring. That means Jamie’s pre-tax income is between $36 and $540 million. After taxes, his tax cut is about $18-270 million. Oh, and by the way, a 10% investment of $700,000 in the company ended up being worth $12-$180 million.
