- Full Name Jamie Siminoff
- Occupation Entrepreneur
- Nationality American
- Birthplace USA
- Birth Date Oct 18, 1976
- Age 46 Years, 3 Months
Jamie Siminoff | BiographyPitched His Business of Doorbot on the ABC Series 'Shark Tank'
Though Siminoff left empty-handed as a contestant in 2013, Siminoff returned to 'Shark Tank' in its 10th season (2019) as a guest shark after the immense success of his company Ring. “My pinnacle of success, I thought, was getting on the show as an entrepreneur. So to be able to come back as a Shark is a beyond surreal thing,” Siminoff revealed to CNBC Make It in an October 2019 interview.
Jamie Siminoff is a founder and chief inventor of home security and smart home company Ring Inc., which Amazon purchased for over $1 billion in 2018.
Who Is Jamie Siminoff?
Jamie Siminoff is an American entrepreneur. In 2011, he created the Wi-Fi-enabled video doorbell called DoorBot, later rebranding as Ring. In 2013, Ring failed to secure a deal with any of the “sharks” in ABC business reality television show Shark Tank, but later it was acquired by Amazon in February 2018 for more than $1 billion.
Before establishing his billion-dollar company, Siminoff founded a voicemail-to-text company called PhoneTag and an online service called Unsubscribe.com. He successfully sold both the companies in 2009 and 2011, respectively.
How Old Is Jamie Siminoff?
Jamie Siminoff was born on 18 October 1976 in the USA.
Siminoff graduated in 1999 from an undergraduate school of business at Babson College in Wellesley, Massachusetts.
Siminoff began his entrepreneurial career after receiving a business degree. He founded several successful start-ups. In around the mid-2000s, he started a voicemail-to-text transcription tech company called PhoneTag, without the support of venture investors. The company offered its services at a premium price, and it made around $19 per month for each direct customer.
After about three years of operation of PhoneTag, Google launched a free Google Voice service that included a voicemail to text transcription feature almost similar to PhoneTag’s. Siminoff then exited his company on top. He sold PhoneTag for $17 million to SimulScribe in 2009.
In 2010, Siminoff co-founded an online service called Unsubscribe.com that made a tool for quickly registering unwanted mailing lists from their inboxes. He also successfully sold it in 2011 to an identity protection company TrustedID.
In 2011, Siminoff says he had his midlife entrepreneurial crisis. “The problem was, I would have an idea but I would turn it into a company too quickly,” he states. After selling Unsubscibe.com, he created a Wi-Fi-enabled video doorbell product called DoorBot. He made the product in his garage in Los Angeles in 2011. According to Siminoff, he initially started DoorBot to see a delivery person at the front door of his garage. To turn his invention into a marketable product, he explored it. He took risks and also faced rejections from people.
On ‘Shark Tank’
Two years later, he pitched his business of DoorBot on the ABC business reality television series Shark Tank on its Season 5 Episode 9. It aired on 15 November 2013. Siminoff says he was broke when he went on Shark Tank. He went on the show hoping to raise some money for his venture. Siminoff was looking to raise $700,000 from sharks, valuing his firm at $7 million. Though the sharks liked his business concept, they declined to invest in his start-up. Siminoff turned down the only offer he got from the Shark, Kevin O’Leary, as he did not like O’Leary’s offer. So he left without a deal.
However, after appearing on the show, his business witnessed incredible growth and success. Siminoff also rebranded DoorBot into a home security system called Ring. As a result, it started offering several home security products and services that help reduce crime in neighborhoods. By 2017, over 16,000 retail stores were selling Ring products. Ring products also attracted the attention of Virgin Group billionaire Richard Branson. As a result, Branson became an investor of Siminoff’s start-up.
In February 2018, Amazon purchased Ring for more than $1 billion. After selling his company to Amazon, Siminoff bought a mountain bike at $8,000, which he called a “total splurge.”
Returning to ‘Shark Tank’
Though he left empty-handed as a contestant in 2013, Siminoff returned to Shark Tank in its 10th season (2019) as a guest shark after the immense success of his company Ring. “My pinnacle of success, I thought, was getting on the show as an entrepreneur. So to be able to come back as a Shark is a beyond surreal thing,” Siminoff revealed to CNBC Make It in an October 2019 interview.
According to Siminoff’s website, he currently serves as the chief inventor at the design laboratory, Edition Jr., president of an integrated network company, NobelBiz, and chief strategy advisor of a telecommunication service provider, Ditech Networks.
What Is Jamie Siminoff’s Net Worth?
According to Celebrity Net Worth, Siminoff has an estimated net worth of $300 million as of October 2021.
Wife and Son
Siminoff is married to Erin Lindsey, an executive vice president of production at 21st Century Fox. The couple together has a son named Oliver Siminoff. Oliver was born with a rare genetic disorder called galactosemia. It prevents newborn babies from processing a breast milk sugar called galactose. Fortunately, the newborn screening program allowed him to be diagnosed with the disease early and started proper treatment within four days of his birth.