As home automation continues to revolutionize the world of home security, one product has an interesting back story. In 2013, inventor Jamie Siminoff went onto ABC’s show, “Shark Tank,” to pitch his new product, the Doorbot doorbell camera. Like so many others, Siminoff left the show without accepting any offers. He didn’t let that stop him however.
Shark Tank Disaster
Other than an offer from Kevin O’Leary that Siminoff deemed “unacceptable,” he had to leave the show not sure about the future of his product. He had spent $10,000 in building props for his appearance on the show and leaving without a single investor could have meant the companies complete demise. Instead, Siminoff chose to re-brand the Doorbot as Ring, and has experienced one of the greatest growth in DIY home security.
“It has now been four years since ‘Shark Tank,’ and the business is now valued at $1 billion,” Siminoff, 41, says on an update for the show that aired Nov. 12, 2017. “Today we’re over 1,300 people, 10 core products, [sold in] 16,000 stores.”
While practically locking himself in his garage in 2010 to try and invent a money-maker, Siminoff noticed he was unable to hear the doorbell from his work space. In response, he created a version of his Ring doorbell cam he sells today. He didn’t invent his doorbell cam to make a profit but instead to fix a minor inconvenience he was experiencing. When his wife made a comment about how much safer she felt using a device that could tell you who was knocking before you opened the door, he knew he was onto something.
By 2012, Siminoff was running a dying company out of a garage with 8 employees. Although they spent more money than they were making to appear on “Shark Tank,” the publicity they received from the show more than paid off. Within a year they were able to increase sales to $3 million and re-branded to Ring. Today, Siminoff laughs off the criticisms from the “Shark Tank” investors.
“Lori said, ‘You’ll never be able to sell this on QVC.’ I literally was just on QVC this week. I did 140,000 units, $22.5 million dollars worth of sales in 24 hours, one of the most successful sales they’ve had of the year.”
DIY vs. Monitored
Ring has since expanded out from just making doorbell cameras and has become one of the leading companies in the DIY home security industry. The “do-it-yourself” home security systems have become increasingly popular as customers are enjoying not having to make permanent alterations to their homes for installation. It can also be extremely inconvenient to work around a professional installer’s schedule. A major issue with DYI however is that there is no one actually protecting your home other than when you happen to look at your phone.
If you are interested in a home security system that is as easy to install as peel-and-stick and also have the comfort of knowing professionals are protecting your home 24/7, contact Protect America and receive an obligation-free quote. Protect America offers the best products at the best prices by matching the competitors as well as offering a lifetime equipment warranty. Don’t worry about a complicated installation process or having to constantly check your phone; let the professionals handle a professional job.