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Why Did Jamie Siminoff Go Back to Ring?

Jamie Siminoff went back to Ring because AI made him want a second at-bat. He stayed five years after selling the company to Amazon, then left in 2023. The business was very profitable. He felt it had won the Super Bowl and that growth from there would be more linear, so he would hand it over and do something else.

AI changed that. He says his brain started firing on what else the foundation of Ring could do, and from the outside he was not seeing the innovation he wanted in the industry he had built, including at Ring. He names the mission as making neighborhoods safer, and he says the speed of new features is what pulled him back. He calls it a credit to Amazon that they let him return.

He did not spend the time away texting the team at 1 a.m. He tried to leave them alone instead of agitating from the sideline, and he took the idea to the heads of Amazon. The day he walked into the office and said he was back, no one on the team knew he was coming. Since then, he says, the KPIs have gone multi-X on new products, invention, features, impact, and the business overall.

Transcript

From Nearly Bankrupt to $5B+ Revenue, with Ring Founder Jamie Siminoff ·

The Peel with Turner Novak

More from this episode

  1. Why Did Ring Call Engineers Builders?Jamie Siminoff made builder the official title for Ring engineering so people feel free to work across firmware, mobile, and backend.
  2. How Big Did Ring's Sales Get After Amazon Bought It?Jamie Siminoff says Ring has done well over 10x the business since it has been at Amazon, with multiple billions of dollars of sales.
  3. Why Does 4.869 Billion Sound More Real Than 5 Billion?Turner Novak says 4.869 billion sounds more real than 5 billion because a figure that is not a round number gets treated as real, while 5 billion gets a shrug.
  4. What Is the Ring App Store?Jamie Siminoff wants Ring to notice a missed visit the way a person would, and Ring launched an app store so other groups can build specialized home apps Ring…
  5. Why Did Jamie Siminoff Start Christie Street?Jamie Siminoff started Christie Street, a crowdfunding site, because Kickstarter had stopped taking hardware, and the doorbell was only the product used to…
  6. Why Was Shark Tank Critical for Ring?Jamie Siminoff says Shark Tank was probably one of the most critical things in getting Ring to survive. Product was arriving that he could not pay for.
  7. Did DoorBot Work on Shark Tank?Jamie Siminoff says DoorBot did not really work when Shark Tank made them do a live demo. It was close.
  8. Why Did Jamie Siminoff Turn Down Shark Tank?Jamie Siminoff turned down Shark Tank because the offer was a revenue share he called a kill shot. Mr. Wonderful made it. Jamie says Mr.
  9. How Did Ring Fix Thousands of Broken Doorbells on Christmas Eve?Jamie Siminoff says Ring found out on Christmas Eve that thousands of doorbells were broken.
  10. Why Did Investors Back Out of Jamie Siminoff's Round?Jamie Siminoff says an East Coast group of early-stage investors backed out of his round at the last second.
  11. How Much Did DoorBot Pay for Ring.com?Jamie Siminoff paid a million dollars for ring.com over two years, with 175,000 wired the same day, while he had 187,000 dollars in the bank and the company…
  12. How Did Ring Survive Nearly Going Bankrupt?Jamie Siminoff says Ring came to the verge of bankruptcy about four main times, and that a hardware business like theirs was nearly always that close.
  13. Why Did Jamie Siminoff Spend Ring's Last Million on TV Ads?Jamie Siminoff spent about the last million dollars Ring had on TV because he thought a venture-backed company in their spot should go for a big outcome.
  14. Why Did Shaq Take Ring Equity Instead of a Fee?Jamie Siminoff says Shaq took his Ring fee in equity instead of cash.
  15. How Did Jamie Siminoff Learn From Dyson?Jamie Siminoff learned from James Dyson without copying him and without ever meeting him. Dyson does not know he was the mentor Siminoff used.

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