The Sharks Struggle To Understand Doorbot's Value | Shark Tank US | Shark Tank Global
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- Опубликовано: 14 апр 2022
- Jamie Siminoff is seeking $700,000 for a 10% stake in Doorbot
From Season 5 Episode 9
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Will The Sharks Regret Not Investing In Doorbot Sooner? | Shark Tank US | Shark Tank Global
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The name was later changed to Ring and was sold to Amazon for 1 billion dollars, never give up.
Dayum, if the shark negotiated for 15%. Could have made a return of 150million
@@KK-fw4zq actually another shark helped him (i can't remember his name tho) and became a investor. This guy and that other shark made it big and finally Amazon came in bought the company for a Billion.
actually more then that it was round 5 billion dollars
Daaaaaaaang!!!
@@seanwilson5497 Shaquille O'Neal help him sell it to Amazon 5 billion dollars
I just looked up Doorbot and realized they became Ring. One of the biggest mistakes the Sharks ever made for sure,
Yeah same when he said no competitor I’m like there is now (ring) but doorbot is ring!!!
was confused myself because I thought it was a clone of ring, turns out they're the same! wow!
Yup 😂
I was literally thinking, when was Ring created? I own one and at my job in Retail, i hear a LOT of ring notifications go off🤣
Literally every lone and their mothers got one!!
Yep... this is the dude (Jamie Siminoff) credited with starting the video doorbell revolution. None of the Shark Tank folks could justify a $700K investment. Jamie went on to perfect his product and eventually sold the company to Amazon for a billion dollars. You gotta love stories like that!
This guy had one of the greatest ideas ever in my opinion, a great presentation, and thought of everyone. Not just rich people. He was ahead of the game and for the sharks not to notice it, they dropped the ball on it. Congratulations to this guy for being really smart and becoming successful
He was very smart at the end with the offers too, he knew exactly what he was doing.
His one mistake was criticizing and mocking Mr Wonderful.
@@UhuruUhuru he didnt lmao.
Great things came's from crazy idea
Congratulations to Shaq for taking a chance on him too.
Honestly, I think that getting rejected from shark tank was the best option for ring. Getting rejected gave them a greater incentive to improve and the publicity they gained from this helped them a ton
Rejection is just redirection. It’s not failure.
He said " good luck sharks" in the end. He's worth more than a few sharks now
Worth more than all of them combined
@@isunknown9143 Marc is worth five times more than him
@KRAVE Kumi not Kevin but yeah mark
@@heetikamalik3568 Marc Cubans net worth is 4.7 billion. Jamie siminoff's 350 million. So it's more like 14 time
@@criticalmass8328 Isn’t he worth one billion?
I was thinking why would anyone get this instead of ring then I realized that this is ring. Congrats to the guy.
Was thinking the same thing
incredible
I was thinking the same thing and then I even looked at when this video was updated and thought there's no way someone would pitch something like this when rings out. So I looked it up and found out this was ring and it all made sense. Lol
Mr Wonderful would've made 800 something million if he'd taken the counter offer.
@@dakotaharden Lol I came here after seeing that on logans podcast, this goes to that no matter how smart or successful they are, everybody gets it wrong sometimes
This literally revolutionized home security I can't believe the Sharks didn't understand what was going on
They are all rich asshats who don't understand everyday working people they got the high end expensive security systems so not a surprise at all
And he wasn’t even asking for that much money!
That’s because the sharks spend $100k on ADT and home security systems. They don’t have people ever knocking on their door in a private and gated community like those in big estates. They simply did not see the vision for this because they aren’t middle-class people who have neighbors
Sometimes people dismiss a person if they are not interested no matter what you say 💕
IKR? It was an opportunity for the sharks to get even richer.
I noticed he never said “thank you” to each shark that rejected him like most do. He knew how good his product was.
Facts !!
He was so confident because he knew had it
craziest part of all this is a few seasons later he was a guest shark for a few episodes, don’t let a few people who don’t understand your vision decide your fate
Would’ve have taken off like it did without the publicity of the tank show and that guy walked in with no intentions of making a deal. He wasn’t sweating it at the end cos he had no plans of doing a deal
Few few few
@@HeXxGuyy i’m illiterate bruh
The craziest part is that after appearing on this show he realized that he didn't need the people from this show because he later changed the name to Ring and the product became the most well-known thing because of TV advertisings.
@@josephbennett3482 nah he definitely was looking for a deal. You can see his face every time they said “I’m out” he walked away with pride knowing he would prove them wrong
“Can it go to 90 Million?” Mark Cuban
Moments Later…
*Sold to Amazon for 1 Billion*
This guy is a billionaire too
@@espo3839 *Mark was asking if it can be a $90mil company. In hindsight, it turned out into a 2 billion dollar product.*
@@espo3839 well, actually no, since he got investments from many different firms after this, ranging up to 200 million. I’d guess from that deal he got around 40%, dont get me wrong its amazing but hes not a billionaire, except he made more money with it
@@joelen282 its funny tho cause im pretty sure rn the only sharks who r richer then him are mark and kevin, meaning he’s now richer then the ‘security’ guy lmao
@@TheFightHubb yh thats actually funny 😂
This is a prime example of believing in your company and what you created! Inspiring!
Pun intended ?
Coughs *Stockton Rush
Huge improvements to the product since it's first rendition by adding a motion sensor, making the product look nicer, and then rebranding the company to "Ring" really did wonders for this. Glad he stuck to his guns and made a success through other avenues.
i dont think the shark could see that though he needed russell
Sometimes the sharks are too detached from reality to know a great product. They probably all live in mansions with tons of security cameras and personal security, so obviously they wouldn’t understand the value of this for the ordinary person.
Yea speaking in hindsight is easy..isn't it
exactly… almost 25% of the residents of my building are using ring
I think Ring is a better name then DoorBot the name ruined his pitch which is good that happened cause he's doing amazing
@@dipeshkukreja5341 hindsight is 20/20
Well not really you could see they all knew he was going to be successful but that wouldn't have mattered anyways he wasn't offering anything that would have helped them I'm sure if they joined him he still would have sold the company for a billion dollars or more even they still wouldn't have benefitted much from their investment. He knew he would be successful so he wasnt willing to offer them much of anything.
Stood his ground like a boss and became a giant success afterwards. Respect the hustle!
you got to love Mr Wonderful tho, the way he waits until he’s the only option left then gives an offer for the full amount but with some ridiculous add ons
Have a feeling the only other reply on this comment is your alt..
@@JE.1985no we don’t. He tried to lowball the man and underestimated his investment knowledge. “What’s the difference between interest and royalties?”
I MEAN SERIOUSLY?🤣
This is a great example of if you believe in your product and you know the 'value', don't get easily lured by offers. He is a BILLIONAIRE now! Happy for him🤩
if he didnt make iy you all would say how fool he was
the company now was sold to Amazon for over a BILLION dollars. good for Jaimie, he’s a perfect example of knowing your worth and not giving up.
Agreed 100%. I'm happy for him.
The fact they didnt see the value here is wild...I got one of these the second I heard about it...brilliant product
His answer to Mark was so good. Like, yeah of course technology is going to exist where this isn’t going to be the only one. But right NOW this is the only one. And people need doorbells, they just made a lot of excuses
It's fear, 700k is a lot.
Agreed
I may need to do my research but I don't think Ring is the only one of it's kind now. But it is the most popular and trusted.
@@BboyKsmooth I haven’t researched if it’s the only one like that now , but at that moment that was THE ONLY ONE
@@jasminesoliman4499 at the time for sure! It's been a while since they came out with it.
I'm not arguing the back then. I'm arguing the now.
I’m surprised he didn’t bring up the concept of catching package thief’s.
Im guessing back then it wasnt that big of an issue or ppl never saw it unless they had full security systems
The pitch could have been two hours long maybe he did
Or maybe back then it didn’t have motion detection
Hi SpongeBob guy
@@Anakin.Apologist it did he showed it 😌
Clear message: Don’t let anyone bring you down. He is a billionaire now!
No he's not... It sold for 1 billion, but to get to that point he had to sell off most of his shares. He most likely didn't have much % left at the end, definitely NOT a billionaire
@@SGZealotryhis net worth 300 -335 Hundred Million
@@SGZealotrysooner or later he will be a billion😅 he is getting passive profits while Amazon is doing all the marketing
@@SGZealotryhe still got a good portion he doesn’t have to work anymore if he doesn’t want to
@@randomcomment262 Okay and? I just said he's not a billionaire, I don't get how your message has anything to do with that
Love this Guy for believing in himself and stood upto his words without getting lured by those bunch of Jokers 🤡 ..
Finally the full uncut version of this legendary pitch
The pitch could have been two hours long.
@Ziyan’s Power the average is 1 hour
@Ziyan’s Power the pitch was an hour and 20 minutes
@Ziyan’s Power I looked it up. Kevin says it in an interview on some news station or something like that
Pretty sure it could be long, they just edit and then release later.
The fact that he came with a million dollars in sales in just 9 months..
And they say they don't see how you can 10x that is just absurd
Their loss he sold it to Amazon for a billion dollars
exactly
made a quarter million in a month and growing month over month and they couldn’t see the value.
And then he went and made 1000x times that when he sold to Amazon. Sharks missed a big one.
He literally said he made 250k this month.
They didnt even consider that😂
Yes I bought doorbot before they transitioned it to the ring. It was one of the best thing I bought. I am glad he became successful. Doorbot helped me with my anxiety and security. Thank you Jamie
I'll never understand why the sharks passed on it. The tech was sound. There was no direct competitors. Crazy.
Mark "I don't see this being an 80 or 90 million dollar business" That aged well.
Well yep instead of a 80 or 90 million dollar business it became a 100 million one
@@pxkos 1 billion one actually
@@depression_isnt_real no one said he was
@@depression_isnt_real who
That's not what he said. He said he doesn't see how injecting himself into the picture takes it there.
700k is pocket change to Mark. And he actually LIKED the product. Can't believe he didn't see an opportunity here.
Didn’t have a vision he also missed many more it’s not greed it’s why he and his family will be wealthy
@@depression_isnt_real the amazon products you buy arent gonna potentially earn you money though
Sometimes looking a product isn't enough to make it worth investing in
cause cuban likes to invest in sticky notes , gift cars, date , foods ,,,,anything garbage
oh let's not forget charity !!!!! he has done ton of those basically just giving away money
he has no creativity or vision
Arrogance can blind even seasoned intelligent investors.
4:34 !!! Fitting response ! "What businesses not going to get replaced by future technology!!!"
"What business isn't going to get trumped by future technology? Its about staying nimble and being part of that change."
This guy is the smartest person in the room and it isn't close.
Lol mark is
@@lukamagicgodMark is SO overrated dude. He really isn't that intelligent.
Irony is this guy became a billionaire by this product and came back to shark tank again. But this time he is a shark himself
Buddy Jamie isn't a billionaire, not yet, at the least. He's become pretty successful, and is probably worth more than a couple of sharks though. 🙈
his entire net worth is 350 million
@@harshailani8928 Yeah, people think he owned 100% of this company. Even if that was the case he would still have to pay taxes so...
You need to look up the word "irony". Also he hasn't become a billionaire yet.
Billionaire or not, he sky rocketed and followed his gut, that set him and his family for life
A lot of entrepreneurs who come to shark tank with a great product but end up not having a shark on board end up doing great because it's free advertising lol
And for this reason, I’m out!
@@Martin-vw8wf I knew you were out from the beginning 😏🙂
And other investors will come too
@@Martin-vw8wf -Barbara probably
Yeah but this product didn’t need that publicity. They literally changed their name and started blowing up when they did commercial advertisements
Doorbot was a horrid name, but his presentation was amazing!! Such a great way to portray the usefulness of the product.
Well the same product which Amazon bought later on for a billion
@@lubnaarshisayed2942 but when did they change the name to Ring?
@@carlosfer2201 before Amazon bought them.
Nike was called Blue Ribbon at first . they needed a new name and employee saw the name in his sleep ,the founder didn’t like it at first . True story 😅
DoorBot sounds something from Transformers.
He's now worth over 300 million and has more money than some of the Sharks that have appeared on the show
He took a bold decision. His confidence has taken him places. Love this guy's attitude
Dude is worth more than all of them now, except for Mark.
Kevin has a higher net worth and Daymond is about equal with him
@@charliereilly4120 crazy
@@charliereilly4120 Mark is the only billionaire there
*MARK IS A BUBBLE 🫧 BOY, who acts like he a built a company from scratch and took it all the way without Immense luck. Thats the diff between this guy and Mark. I respect this guys net worth more than BUBBLE 🫧 BOY MARK*
And daymond and Kevin.
this man made history.. he was ahead of time
,👍 I love this guy. The audacity to challenge the offer, the boldness to say no. He sees what they don't and I'm glad his story didn't end here.
Kevin would've become the most successful shark had he closed that deal.
In retrospect yes, but when you modify a circumstance -- add Kevin to the mix -- there is a possibility of a different outcome.
@@jygawali True! But with Kevin, chances of success are always higher. He did wonders with that Benjilock deal.
No, Jamie did a great job selling it for 1 billion to Amazon. If Kevin was in the mix I could see a very different outcome.
@@HaveAGoodDayFk.U yea,Kevin would’ve got it sold for 2 bil
@@swerveo7313 or they wouldn`t have sold it and amazon would`ve made a competing product insatead of buying this one
This is the reminder I needed to keep going despite all the rejections.
Keep it going you never know what can happen 💯🙏
@Vetements so that's what happened to Ye then?
@@koplakah1983 uh oh
I’ll invest. What’s the product?
I can't believe that they passed on such an amazing idea. Glad it became what it did for him.
Well he had only come in with the doorbell only…what he was missing at the time was the motion sensor that turned it into a billion dollar product…how it just starts recording without having to ring the bell
because it wasn't a complete product. they didn't like the fact you had to ring the door bell for it to work. if he left it like that it would've failed 100%. the motion sensor saved his business.
He had a clear vision, and it paid off.. big time. Good for you Jamie
A royalty deal at 7% would have been worth $12 Million in 2016 and $29 Million in 2017. Not to mention the 5% equity would have netted him $75 Million in the Amazon buyout. Pretty greedy, and glad he didn’t take the offer.
Except Amazon doesn't buy the company with Kevin having a 7% royalty and likely they never ramp up sales like this guy did. That being said I don't think there is any deal he could have taken that would of ended up with more money in his pocket today.
@@antoinewood2478they can buy out his royalty there is a clause that if it’s sold to another company the company can pay you an amount to delete your royalties
To those who don't know doorbot name was changed to ring and Amazon brought it for 1 billion dollars
Didn’t know you could bring things for a billion dollars, appreciate da heads up
5 billon
It’s crazy how much he grew this company because he stood by his growth conviction
Doorbot has grown tremendously since the Shark Tank episode aired. Jamie has a net worth of $300 million and sold his company “Doorbot” to Amazon for more than $1 billion.
How'd he lose $700m?
It’s nice to sometimes look at the past and always get the same conclusion: No one really knows anything. It’s all luck.
Its not luck. Founder had the vision. The world and sharks didn't. He got paid for it.
What a bad take.
If you had invested the $700,000 at 10%, you would have gotten $100,000,000 when it sold to Amazon
How? He was only willing to give up 3% of the company?
@@ronniekregar3482 0:43
@@ZainHoda ahhhhhh...his original ask.
It was closer to 150 mil
Not with dilution.
"Goodluck sharks"
Coldest moment on this show
"We have a vision to build a big company". Played out well 💯
There's beauty is rejection. His rejection was for redirection which resulted in him becoming a billionaire.👏🏾👏🏾👏🏾Well played. Stand up for what you believe in, especially when you have to stand alone.
5:15 : “I don’t see the progression”
If only they knew 😂
This man was ahead of his time! He knew exactly what was up!! Sharks took a huge loss on this one!
The irony of this video is hilarious. Ring has literally changed everything for home security. Jamie stood his ground. He knew what he had in his product
In February 2018, Ring (door bell )
was acquired by Amazon for an estimated value of between $1.2 billion and $1.8 billion.
He was very smart, and knew his worth!
This is the pitch that made sharks rethink sales. Launched 9 months ago, $1 million in sales, in the last month $250,000 is sales. What’s wrong with these numbers 🤦♂️
They really grill people more about sales now.
Man..... the sharks completely blew this one.
this man changed how people answer their doors now people all over use it. the fact that they didn’t invest was very much their mistake but if they did would it be what it is now
I hope they look back at this and saw the opportunity they wasted by being old and unable to comprehend the value of this.
Hahaha Barbara likes to say that if she was on the episode she would’ve seen the value and invested. You think it’s true?
@@celesbianmegastar being she’s a real estate mogul I can believe that
What does being old have to do with them not investing lol
@@celesbianmegastar yes she's the real estate shark. anything to do with houses she's all in for.
what a smart man was confident with his offer and didnt back down after being denied by all 5 sharks and look at him today hes a billionaire!
Every shark is kicking themselves over this one. No matter how much they say otherwise.
It's like, the rest of the world could see it's worth but the sharks couldn't
i bet you think you’re a genius saying this in hindsight lol
Why didn’t you invest in it then smart guy
@@mr.twenty-ten6319 if I knew a thing or two about investing then, I would have. These investors are human but they are the professionals, it's their show, their opinions are held to a higher standard than my own. Everyone drops the ball now and then.
Yea same like you look at Bitcoin now but you still won’t buy it at this price levels because you think it’s already up to high.
@@mr.twenty-ten6319 bitter boy
The craziest part of this is a few years later he was a guest on shark tank and actually had more money then the sharks he was asking to invest in on him with.
It’s so great watching rich people pass on the most profitable product on shark tank
Goes to show, just because you have money, doesn’t mean you know EVERYTHING
Mr Wonderful would've made back his $700,000 with $770,000 from the interest, and approximately $45,000,000 from the equity when the company was sold.
The most legendary pitch ever!
I love that Richard Branson was the investor after ST... both laughing all the way to the bank.
This is a perfect example, U dont need to seek anyone's validation, u need to trust ur instincts.
This guy didn't come to play, he had his game face on at all times (except when making fun of Mr. Wonderful). He had no questions about the ability of his product!
He had already sold millions at the time so yeah it Was already proven in the market
They’ll all regret this. But Robert’s issue with the product was a fair one. People’s ring cameras regularly get hacked
okay it gets hacked but what does the hacker do? See the outside to the street
@@Adam-om9hu Many people have just the doorbells, but Ring does do a full-blown security system. Like door and window sensors, indoor and outdoor cameras, etc.
The opening of the pitch where he knocks is amazingly smart
They were too rich and smug to realize this was/is a product the average person could use and need. Not everyone has a security force. Also they didnt have to be so smug.
An example of how key branding awareness is.
Yeah
The way precious Lori said "I am surprised" at the end was so very sweet.
Hindsight is 20/20 for the sharks. Each of my last 3 houses has had a video doorbell, installed by me (I've moved a lot over the last few years). It's basically a staple for our family. We feel naked without it. This guy saw the future.
What they were missing originally was the motion sensor. While yes many home intruders ring doorbells, having a motion detector would have done way more
Like a billion ways more?
They all sure regretted passing on this.
I didn’t realize at first that this aired in 2013, so imagine my confusion knowing the products available now. 😂
“What ever happened to peaking through the window”. Great mindset
I come and rewatch this episode every few weeks, helps with perspective !
Most memorable Shark TANK, ever! 😂 They all came to regret not buying into what became "Ring".
He sold to Amazon for 1.2B-1.8B and still kept 30% of the company…ya mark I can’t ever seeing it be worth 10 million dollars XD
I’m so glad this man stood on business .
Goes to show you.just because you're rich .doesn't mean you're smart....bless you brother
Now it’s called ring and it disrupted security systems,
Many people have it in their homes.
Barbara: My mattress couldn't fit the billion dollars I would earn from investing in this company, and for that reason I'm out.
I have to say this is the biggest product to come out of Shark Tank & made a big impact on our society.
I remember watching this around 2013 when buying stuff online seemed kinda wasteful due to shipping costs or credit card scams. The concept of everyone getting expensive packages and regular household items delivered every week wasn’t a thing yet. Crazy how this man held the crystal ball and became richer than some of the sharks.
All the sharks made stupid excuses, which means that they secretly loved the product, and thought it would do very well! I think they realized he didn't need or particularly want a shark!
If they thought it would do well they would've wanted to be a part
I’m Sure all of them now have a ring doorbell for their home.
😂😂😂
Doubt it. They probably all have a full security system.
Crazy how 10 years later this seems like basic technology
I'm happy he succeeded. I love my ring doorbell
Me too!
Kevin's initial reaction shows he is wishing he thought of it.
It's astonishing than none of them saw the potential in thatproduct.
Richard Branson saw the potential. He Reached out after seeing Jamie on TV.
"Am I gonna regret that Mr Wonderful?"
Nope, Mr Wonderful will absolutely regret it though
IMO, Jamie never planned on getting a deal. He knew his company was going to expand but needed to market it appropriately. The sales growing month-over-month was insane. He didn't need the sharks for anything. Getting on Shark Tank was all he needed and IMO, he knew enough to not make it incredibly attractive so that no shark would actually be interested. Notice how he isn't upset that anyone declined. The episode is much longer than this but I would bet he wasn't disappointed that they said no.
well, his evaluation was more than fine considering his sales
He looked sad when they denied him tho
@@TimeEnthusiast *acted
Although Shark Tank is more dramatized than Dragons Den, The pitches are more creative than perhaps the more simple approach of the other shows in this category
I really think this is a great example of disattachment. There's no way any of these sharks even answer their door. So they can't connect to why the average consumer would want this.
What’s crazy is Jamie’s net worth is around $400 mil now! He is now richer than some of the sharks. Cuban 4.6 bil, Kevin 400 mil, Daymond 350 mil, Robert 200 mil, Lori 150 mil. Goes to show that believing in yourself is more important than everyone else’s opinion.
Crazy to think that if you added all of their net worths together, it would be a lot of money.
This is a great example that not all sharks are a threat. Some are just fish in the water! Don’t rely on people’s opinion onto what will work! Sometimes it may be impossible but only until someone else goes and do it.