Amazon has announced that it was buying Ring, the smartphone connected video doorbell, in a deal reportedly worth over $1 Billion. Depending on the final number, this will likely make Ring Amazon’s 2nd biggest acquisition ever after Whole Foods.
In 2013, Jamie Siminoff appeared on the reality show Shark Tank, a show where entrepreneurs make business presentations hoping to score investments from the show’s shark investors. In likely their biggest failure as sharks, none of them were convinced enough to pony up the money to partner with Siminoff.
You can watch Siminoff’s Shark Tank appearance below:
The company was originally called DoorBot before rebranding to Ring. Now, less than 5 years after being rejected on Shark Tank, Amazon is buying the company for over $1 Billion.
Amazon will be using this acquisition to accelerate past Google in their ongoing feud over the past couple of months. Google has made YouTube incompatible with Amazon devices after Amazon declined to sell Google products like Google Home on their site.
Ring will continue to operate as an independent business much like Zappos after it was acquired by Amazon.
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