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Jamie Siminoff Net Worth

Oct 20, 2019

Umer Idrisi
Jamie Siminoff Net Worth: If you can understand the real value of your product, you can change your entire life and become the next successful entrepreneur as this is the era when you can get paid more than the actual value of your products.
Jamie Siminoff Net Worth
James Siminoff / Flickr
James Siminoff aka Jamie is one of those amazing mindsets who made it $1B by selling his startup to biggest eCommerce platform Amazon.

Now if you as "How much is Jamie Siminoff Worth?" I will say just one line: He is the real mastermind and because of his working brain, he is enjoying a net worth of $300 million (estimated as of 2019).

Jamie Siminoff net worth:

$300 Million
As of 2019, the updated Net Worth of Jamie Siminoff is around $300 million USD.

Why Jamie Siminoff is Famous?

Jamie Siminoff (an American Entrepreneur) is famous from the day when he appeared on the TV Show "Shark Tank" in 2013 where he pitched his startup DoorBot but failed to impress the investors. Jamie then decided to manage the company himself and renamed it to Ring. After getting huge success, he sold the startup-company to Amazon in 2018 for an Estimated value of $1.2 to $1.8 billion making him a millionaire.

This is a short biography of Jamie who got failed but then decided to make his startup a success. He made it and is a living example for thousands of entrepreneurs in the whole world.

DoorBot Pitch Story:

Back in 2013, Jamie was just another startup founder who was up with his product called DoorBot and the product was pitched at Shark Tank TV Show as a WiFi-enable video doorbell which can act like a spy-cam and can easily connect with a smartphone via the dedicated application to see who is at the door ringing the doorbell.

The cool thing about this product DoorBot was the real-time reporting and also a feature that was allowing home-owners to pretend as they were in the house when they are out of the town (far from home). These two features with a quality product design were the main points of the pitch.

Asking Shark Tank investors to give $700,000 for a 10% equity investment in the company making the company be valued at $7 million. He instantly received four rejections.

Surely the pitch was a total failure as nobody from the investor's desk was ready to invest even a single penny on this small business that was already capturing sales of around $1 million annually and for such a company with only one product the $7 million valuation was not a big deal.

Also, Kevin O'Leary offered him to sing a complicated deal for loan/royalty that Jamie rejected and then he left the stage.

Just like other successful entrepreneurs, Jamie didn't give-up and renamed his company from DoorBot to Ring and started selling his product.

When he was at $5 million in sales, his company (Ring) attracted angel investors like Goldman Sachs and also Richard Branson making the company grab $200 million in investments and then making the company attract Amazon as a buyer.

When the Ring was sold to Amazon for $1.2 – $1.8 billion, Jamie was holding around 20 to 30% of the shares in Ring company and it made him earn more than $300 million ($360 – $540 million before taxes).

If you remember, Jamie was rejected when he was asking just $700K for a 10% investment in the company and when he sold the company he brought home $180 – $270 million after taxes. That's the spirit of a real entrepreneur who never gives-up.

Jamie Siminoff DoorBot Pitch Video:

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