The Biggest Missed Investment in Shark Tank History Was Sold for $1 Billion and Is Now Used Daily by Millions!

A Missed Opportunity for the Sharks

Jamie Siminoff, the founder of Doorbot (now known as Ring), made his debut on Shark Tank in 2013, pitching his innovative doorbell camera technology. Despite the groundbreaking nature of his product, Siminoff walked away from the show with no deal. The Sharks, including billionaire Mark Cuban and venture capitalist Kevin O’Leary, ultimately passed on the opportunity, and it remains one of the most significant “misses” in the show’s history.

What Was Doorbot?

Siminoff’s company, Doorbot, was a pioneering smart home device that allowed homeowners to see and communicate with visitors through a video doorbell. The concept was ahead of its time, but it was underappreciated by the Sharks, who failed to recognize its future potential. Siminoff requested $700,000 for a 10% stake in his company, valuing Doorbot at $7 million a number that many felt was far too high for a product that had yet to gain mainstream traction.

Mark Cuban’s Decision: A Missed Vision

Mark Cuban, a seasoned entrepreneur, was upfront about his reservations. While he believed in Siminoff’s vision, he couldn’t foresee how the company could scale to the levels of growth he typically seeks. Cuban’s reluctance to invest was rooted in his inability to see Doorbot growing from $7 million to $80 million or more. Ironically, Doorbot didn’t just grow; it eventually sold to Amazon for a whopping $1 billion, far exceeding Cuban’s conservative expectations.

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Kevin O’Leary’s Offer and Regret

Kevin O’Leary, also known as “Mr. Wonderful,” made an offer, but it came with strings attached. He proposed a loan of $700,000 in exchange for 10% of sales and a 7% royalty on future sales. Siminoff wisely rejected this deal. Had he accepted, O’Leary would have ended up with millions—perhaps $100 million in equity.

A Bitter Lesson for the Sharks

In the end, Jamie Siminoff’s rejection of the Sharks’ offers proved to be a fortunate move for his company, which rebranded as Ring and became a household name. This story is a testament to the importance of vision and the willingness to take risks, even when others don’t believe in your idea. For the Sharks, it’s a reminder that sometimes the next big thing is hard to see—even when it’s right in front of you.