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His pitch on 'Shark Tank' was rejected. 5 years later, he returned to show as a judge

Jamie Siminoff, founder of Ring, appeared on 'Shark Tank' in 2013 seeking an investment in his company. His pitch was rejected. Five years later, he returned to the show as a judge.

April 12, 2024 / 07:24 IST
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Jamie Siminoff appeared on 'Shark Tank' with his pitch in 2013

A video celebrating the remarkable journey of Jamie Siminoff is currently going viral on social media. Siminoff is the man behind world's first Wi-Fi video doorbell, Ring, who appeared on “Shark Tank” with his product in 2013, was rejected by all but one Shark and walked off without a deal – only to return to the show years later as a millionaire investor himself.

A video capturing the American entrepreneur’s journey from Shark Tank pitcher to Shark has garnered a staggering 14.6 million views on X since being shared five days ago.

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In September 2013, Jamie Siminoff went on the business reality show “Shark Tank” with his product - a video doorbell. He wanted to raise $700,000 for his company, which was then called DoorBot.

When he appeared on the show, Siminoff was already raking in $1 million annually in sales, according to Yahoo News. He hoped to rope in one of the Sharks as an investor in DoorBot, but his pitch was rejected by all the panellists except Kevin O'Leary.

O'Leary, also known as “Mr Wonderful,” offered Siminoff a $700,000 loan in return of a 10% commission on every sale until the loan was paid off. He also wanted a 7% royalty on all future sales, plus 5% of the company's equity. The terms of the deal were not acceptable to Siminoff, who rejected the offer and walked out of the show without a deal.