The company raised over $200 million in investments from Kleiner Perkins Caufield & Byers, Qualcomm Ventures, Goldman Sachs, DFJ Growth and Sir Richard Branson. In 2016, Shaquille O'Neal acquired an equity stake in Ring, and subsequently became a spokesperson in the company's marketing. On September 26, 2014, the company was rebranded as Ring as it launched its second-generation hardware Siminoff explained that the new name and updated hardware was more reflective of the company's positioning of the doorbell as a home security product.
Siminoff estimated that the appearance led to $5 million in additional sales. Kevin O'Leary made an offer as a potential investor, but Siminoff declined it.
#AMAZON RING ALARM PRO SERIES#
In 2013, Siminoff and Doorbot appeared on an episode of the reality series Shark Tank to seek a $700,000 investment in the company, which he estimated was worth $7 million. Siminoff's team envisioned the product's concept as an "alarm system literally turned inside out" in comparison to other security systems, describing it as a "pre-crime" system. Doorbot was crowdfunded via Christie Street, and raised US$364,000, more than the $250,000 requested. In November 2013, Ring was founded as Doorbot by Jamie Siminoff. Various security vulnerabilities have also been discovered in Ring products. Ring's product lines have faced scrutiny over privacy issues the Neighbors service has been criticized by civil rights advocacy groups as building a private surveillance network backed by law enforcement agencies. It was acquired by Amazon in 2018 for over $1.2 billion. The company was first founded in the Fall of 2013 by Jamie Siminoff as the crowdfunded startup Doorbot it was renamed Ring in the Fall of 2014, after which it began to receive equity investments. Via Neighbors, Ring may also provide footage and data to law enforcement agencies to assist in investigations. It also operates Neighbors, a social network that allows users to discuss local safety and security issues, and share footage captured with Ring products. It manufactures a titular line of smart doorbells, home security cameras, and alarm systems. Ring LLC is a manufacturer of home security and smart home devices owned by Amazon.
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