When Jamie Siminoff walked into Shark Tank in 2013, he wasn’t pitching a sponge or a snack. He was pitching the future of home security. His invention, then called Doorbot, was a Wi-Fi–enabled video doorbell that let homeowners see and speak to visitors from anywhere.
His ask: $700,000 for 10% equity.
The Sharks liked the idea. They didn’t like the valuation. What followed was one of the most famous rejections in Shark Tank history.
The Pitch
Siminoff started with a pain point everyone knew: missed packages, unwanted strangers, and an outdated doorbell that hadn’t changed in decades. His solution? A connected smart doorbell that put the homeowner in control.
The demo was straightforward—visitor rings the bell, homeowner answers on their phone. Simple. Relatable. A glimpse into the connected-home future.
The product was the first of its kind, and Siminoff leaned hard into that. He positioned Doorbot as the next big thing in security and convenience. But while the concept grabbed attention, the Sharks weren’t sold on whether it could scale.
The Negotiation
The Push and Pull
Kevin O’Leary zeroed in on numbers, as always. He questioned costs and customer adoption. His counter: a royalty-based deal instead of equity. It was safe for him, risky for Siminoff.
Daymond John and Barbara Corcoran backed away, worried about competition from established home security brands. Mark Cuban didn’t see the market fit.
Siminoff’s Stance
He stayed calm, even when visibly frustrated. His conviction was clear: Doorbot was ahead of its time. But his valuation—$7M pre-money—was too rich for investors who didn’t see the vision.
The Crux
The Sharks saw a “nice gadget.” Siminoff saw the future of the smart home. That gap in vision was the dealbreaker.
The Outcome
No deal. Jamie Siminoff walked out empty-handed.
But here’s the twist: Shark Tank exposure drove massive sales. Customers loved it. Investors outside the Tank loved it. Doorbot rebranded as Ring, raised big VC money, and grew into a household name.
Then, in 2018, Amazon bought Ring for over $1 billion.
The rejection that stung on national TV became one of the greatest comeback stories in startup history.
My Takeaway
Ring is proof that a “no” today can become a billion-dollar “yes” tomorrow.
A few key lessons:
Exposure matters. Even rejection can bring customers and investors.
Timing is everything. The Sharks didn’t see the smart home wave coming—but Siminoff did.
Know your worth. A valuation may seem crazy now, but markets reward bold vision.
Fun Bit
Years later, Jamie Siminoff came back to Shark Tank—not as a contestant, but as a guest Shark. Talk about a full-circle moment. The very panel that once passed on him now welcomed him to their side of the table.
Question for you:
👉 If you were Jamie Siminoff, would you have taken Kevin O’Leary’s royalty deal just to land a Shark—or held firm like he did?