Jamie Siminoff is an American inventor and entrepreneur. He is famous for being the founder and Chief Executive Officer of the Ring doorbell. He is also known for appearing on the Shark Tank to boost his company initially under the name, Doorbot. So, how much is Jamie Siminoff net worth?
Jamie Siminoff made of the historical best inventions in the world. For example, he pitched a WI-FI enabled Video doorbell. With the design, the users would access their door via their smartphone to see the person ringing the bell, among other features. With this invention and entrepreneurial skills, he has managed to raise his net worth to the rooftops.
How much is Jamie Siminoff net worth?
Jamie has an estimated net worth of $300 million as of 2021. The high amount of wealth can be credited to his successful inventions coupled up with outstanding entrepreneurship. In addition, the income has grown from the millions of his annual sales.
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The growth has been an attraction to numerous investors in his company in different parts of the world. In addition, he has been the owner of the company, which means additional income after taxes. How much is Jamie Siminoff’s salary? He grosses between $360 and $549 billion before taxation and $180 and $270 million after-tax.
Jamie Siminoff career
Jamie has taken part in numerous professions and business ventures. He held multiple board and advisor roles in several booming organizations and companies over the years. For instance:
- He was the board member of Ring.
- He was an advisor and investor of a water damage prevention company known as Flo Technologies.
- He was an advisor and investor of an organization related to automated video production, Qwiki.
- Since 2010, he has been part of the board of directors of an organization that offers royalty-free music and sound effects known as the Audi Micro.
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Apart from all these board memberships, Jami has taken part in numerous events as a speaker. Some of them include:
- LeWeb in Paris, France from December 2014
- New Co Los Angeles
- Slush 2016
- Insure Tech Connect 2017
- Tech Crunch Disrupt San Fran 2018
- GeekWire Summit 2018
- SUMMIT LA 2018
In 2005, he founded a company, Phone Tag, the first to offer voicemail-to-text services. Later, he sold the company to Ditech Networks. The funds obtained from the sale were used to begin his next company.
Doorbot pitch story
When did Jamie Siminoff start his company? He began the company in 2013. Jamie came up with the idea of installing a traditional automated doorbell with cameras and an alarm system to enhance security. He founded the company under the name Doorbot. A majority of the funds were derived from crowd-funding.
During the same year of the invention, he tried his luck on the TV show Shark Tank. He asked for a $70,000 investment for his company for a 10% equity investment. But, unfortunately, his proposal was rejected by the shark due to some minor deterrent features.
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However, Kevin O’Leary offered him a complicated loan/royalty deal which Jamie rejected. Luckily, this was not a total loss as he received widespread fame and great interest among viewers, which made his sales go significantly high.
After the four rejections, Jamie Siminoff on Shark Tank renamed the company from Doorbot to Ring. He subsequently went on to make over $5 million in annual sales. With the significant increase in the Ring net worth, many other wealthy personalities invested over $250 million in the company. They were:
- Goldman Sachs
- Qualcomm Ventures
- Sir Richard Branson
On 27th February 2018, Amazon purchased Ring for a value of between $1.2 and 1.8 billion. Jamie still held a 20-30% ownership of the company. Therefore, this meant that he would gross between $360 and $549 billion before taxation. After-tax, he would take home between $180 and $270 million. At the moment, the company’s head office is located in Santa Monica, California, USA.
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Jamie Siminoff’s house and cars
Where is Jamie Siminoff’s house situated? His home is located in Southern California. However, he has not offered any information about his house’s features. In addition, he has not publicly spoken about the types and number of cars he owns.
After making the massive sale to Amazon, the first thing he bought was a mountain bike. Referring to it as a total splurge, he revealed that he had been eyeing for a while. He purchased the specialized S-Works Epic mountain bike for $8,000.
Jamie Siminoff net worth is enough proof that he is a real mastermind. With his ever-active brain, he has managed to own and run a multi-million dollar company. In addition, he comes up with creative inventions that come in handy in making a difference in his customer’s everyday lives.
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