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Ring (formerly Doorbot) is a global home security company owned by Amazon.[2] Ring manufactures a range of home security products that incorporate outdoor motion based cameras and doorbells, such as the Ring Video Doorbell, that was featured on ABC's Shark Tank in 2013.[2] Ring Video Doorbell is a smart doorbell device that allows users to monitor and operate their front, back and garage doors remotely.[3][4] When the doorbell is pressed, the Ring application begins a VOIP video call to a connected device, so that the owner can see and speak to visitors.[5][6][7][8]

Ring
Subsidiary
Predecessor Bot Home Automation
Founded 2012; 6 years ago (2012) (as Doorbot)
Founder Jamie Siminoff
Headquarters Santa Monica, California, U.S.
Products Ring Security System
Ring Video Doorbell
Ring Video Doorbell Pro
Ring Video Doorbell Elite
Ring Floodlight Cam
Ring Spotlight Camera
Ring Chime
Cloud Recording
Owner Amazon
(2018-present)
Number of employees
1,300 (2018)[1]
Website ring.com

Contents

HistoryEdit

From an early age, Ring founder Jamie Siminoff was interested in engineering and entrepreneurship: his father co-owned a plant forging steel pipes for oil refineries and, using his father’s tools, Siminoff manufactured humane mouse traps, heated blankets and remote-controlled cars after school.[2] After attending Babson College and launching and selling two companies, Siminoff conceptualized a company called Doorbot, which would eventually become Ring, understanding his home safety was compromised since he could not hear the front doorbell from his garage.[9][10] Siminoff modernized his doorbell by adding Internet connectivity, a high-definition camera and a motion detector to enable him to control the sensor’s direction.[2] In 2012, Siminoff founded Ring and in 2013 released the first version of his product.[11] Ring was bought by Amazon in February 2018.[12][13]

ABC's Shark TankEdit

In 2013, Siminoff went on ABC’s Shark Tank, asking for $700,000 for his company, at the time called DoorBot, that he estimated was worth $7 million.[14] Kevin O’Leary made an offer as a potential investor that Siminoff declined.[10] The experience being on Shark Tank helped Siminoff raise the profile of the company. He rebranded and got $5 million in additional sales.[10]

Funding RoundsEdit

Doorbot was crowdfunded via Christie Street, and raised US$364k, more than the $250k requested.[15][16] Since then, the company has raised more than $200 million in investments and counts Kleiner Perkins Caufield Byers, Qualcomm Ventures, Goldman Sachs, DFJ Growth and Richard Branson—founder of Virgin Group—as prominent investors.[17][18][19][11]

Amazon agreed to acquire Ring,[20] for somewhere between $1.2 billion and $1.8 billion in February 2018.[13] Reuters values the deal to be worth over $1 billion.[21]

Products and Key ReleasesEdit

In 2015, Ring released the Stick-Up Cam which incorporated the same features as the doorbell but without the actual doorbell button. In 2016, the Ring Floodlight Cam was introduced which incorporated two 1100 lumen LED floodlights to optimize security. In 2017, Ring launched a DIY home security system, Ring Protect, including an alarm keypad and motion sensors.[22][23] That same year, Ring released its second version of the device, Ring Doorbell 2, with a rechargeable battery pack, night vision, a motion detector, speaker and microphone.[24] Ring Neighborhoods is an additional security feature that helps non-video doorbell users monitor suspicious activity on their app.[25] In July 2018, Ring launched an alarm security kit, which includes a keypad, siren, and motion sensors.[26]

Home SecurityEdit

In 2016, Ring partnered with Los Angeles Police Department and installed Ring Video Doorbells on 10 percent of homes in Wilshire Park, California. The LAPD’s data showed that there was a 55 percent decrease in break-ins within the first six months of the doorbells being installed.[4][2] In addition to break-in prevention, Ring products have been cited as aiding the police in identifying perpetrators.[27][28]

App and RetailersEdit

The app for Ring doorbell is currently available on iOS, Android, and Windows 10 Mobile.[29] An Alexa skill for the Amazon Echo Show and Fire TV also allow users to view video feeds from Ring devices.[30] Ring is sold in over 16,000 big box retailers, including: Home Depot, Target and Best Buy.[10][31]

ReferencesEdit

  1. ^ https://www.marketwatch.com/story/ring-which-amazon-just-bought-for-1-billion-was-once-rejected-by-shark-tank-2018-02-27
  2. ^ a b c d e Dave, Paresh. "Ring modernized the doorbell, then its inventor, Jamie Siminoff, went to war against crime". Los Angeles Times. Retrieved 2017-12-13. 
  3. ^ "The real cost of setting up a smart home". USA TODAY. Retrieved 2017-12-13. 
  4. ^ a b Conner, Katie (2017-11-14). "Technology helping to deter holiday package thieves". KNXV. Retrieved 2017-12-13. 
  5. ^ Pollicino, Joe (December 6, 2012). "DoorBot lets you see and talk with who's at the door from the comfort of your smartphone (video)". 
  6. ^ Ashe, Dru (December 7, 2012). "DoorBot: The Wi-Fi Doorbell That Connects to Your Smartphone | Complex". 
  7. ^ DoorBot lets you see who is knocking via your mobile device - SlashGear
  8. ^ The DoorBot From Edison Junior - Business Insider
  9. ^ "This guy turned his failure on 'Shark Tank' into a $109 million investment from Goldman Sachs". Business Insider. Retrieved 2018-03-02. 
  10. ^ a b c d "This guy turned his failure on 'Shark Tank' into a $109 million investment from Goldman Sachs". Business Insider. Retrieved 2017-12-13. 
  11. ^ a b "Meet Ring, the connected door bell company that just scored Richard Branson as an investor". Fortune. Retrieved 2017-12-13. 
  12. ^ Kim, Eugene (2018-02-27). "Amazon buys Ring, the smart doorbell maker it backed through Alexa Fund". CNBC. Retrieved 2018-02-27. 
  13. ^ a b "Amazon is making its second-biggest acquisition ever — the doorbell company Ring". Recode. Retrieved 2018-02-27. 
  14. ^ "After This Entrepreneur Got Nothing on 'Shark Tank,' Richard Branson Wrote Him a Check". Inc.com. 2015-08-19. Retrieved 2017-12-13. 
  15. ^ Doorbot Is Knocking Upon the Future of Doorbells CES 2013 | Apartment Therapy
  16. ^ 'DoorBot' for Homeowners Hits $250,000 Goal | Lockitron | TechNewsDaily.com
  17. ^ Friedman, Zack. "Shark Tank Reject Raises $209 Million, Fights Crime". Forbes. Retrieved 2017-12-13. 
  18. ^ "UPDATED: ABC's 'Shark Tank' makes its decision on Allen County native, veteran Bart Lomont's Robin Autopilot | News, Sports, Jobs - News-Sentinel". www.news-sentinel.com. Retrieved 2017-12-13. 
  19. ^ DFJ (2017-10-19). "Jamie Siminoff, Ring". DFJVC. Retrieved 2017-12-13. 
  20. ^ "Amazon acquire Ring! - News - Smart Home Geeks". Smart Home Geeks. 2018-02-27. Retrieved 2018-02-27. 
  21. ^ News, Reuters Tech (2018-02-27). "JUST IN: Amazon has agreed to acquire http://Ring.com for more than $1 billion - source $AMZNpic.twitter.com/7o3jAlRvVk". @ReutersTech. Retrieved 2018-02-27.  External link in |title= (help)
  22. ^ Sawers, Paul (2 October 2017). "Ring launches Protect, a DIY home security system starting at $199". VentureBeat. Retrieved 3 October 2017. 
  23. ^ Wetzel, Kim (2 October 2017). "Affordable, DIY Ring Protect Looks to Lock Up the Home Security System Market". Digital Trends. Retrieved 3 October 2017. 
  24. ^ Officer, Gary Kaye, Chief Content (2017-11-08). "2017 Holiday Gift Guide Part I - Gifts for 50+ 1 of 2". Tech50+. Retrieved 2017-12-13. 
  25. ^ "TVEyes Media Monitoring Suite - [Transcript]". mms.tveyes.com. Retrieved 2017-12-13. 
  26. ^ Wollerton, Megan (20 July 2018). "Ring Alarm Security Kit review". CNET. CBS Interactive. Retrieved 3 August 2018. 
  27. ^ "Okotoks home owner's doorbell video leads to capture of alleged invader | Metro Calgary". metronews.ca. Retrieved 2017-12-13. 
  28. ^ "Local package thief caught from a doorbell". KSNT News. 2017-11-12. Retrieved 2017-12-13. 
  29. ^ "Ring Video Doorbell 2 Review - Install, App, Video & More | RIZKNOWS". RIZKNOWS. Retrieved 2017-12-13. 
  30. ^ Bishop, Todd (22 June 2017). "Amazon says Echo Show will connect to Nest, Ring and other security cameras via Alexa". GeekWire. Retrieved 1 March 2018. 
  31. ^ "Jamie Siminoff | Lessons for Taking Your Business from the Garage to Global Success | Silicon Valley Bank". www.svb.com. Retrieved 2017-12-13.