How much is Jamie Siminoff worth?
| Net Worth: | $250 Million |
|---|---|
| Profession: | Entrepreneur |
| Date of Birth: | October 18, 1976 (age 46) |
| Country: | United States of America |
| Height: | 5 ft 8 in (1.75 m) |
About Jamie Siminoff
Jamie Siminoff is an American businessman and entrepreneur. He is well-recognized for founding the smart home and home security company Ring Inc. (then known as Doorbot) in 2013. After failing to secure a deal with any of the investors/entrepreneurs of the ABC reality series Shark Tank, five years later, in February 2018, the company was acquired by the giant Amazon for an estimated value of between $1.2 billion and $1.8 billion.
Selling his company to the giant Amazon.com for billions of dollars is how the businessman from New Jersey became a wealthy celebrity. Simultaneously with founding and funding various companies and organizations, in early 2003 Jamie Siminoff came up with the idea of creating an alarm system that can offer better home security.
Jamie Siminoff became famous after he founded the smart home/home security company Ring Inc. in the early 2010s. He was born on October 18, 1976, in Chester, New Jersey. He spent most of his childhood studying history and learning about various public figures around the globe. He attended the local West Morris Mendham High School, from which he graduated in 1994. In the mid-1990s, he moved to Massachusetts to continue his education.
Inspired to become a businessman, Jamie enrolled at the Babson College where he earned a bachelor of science with an entrepreneurship degree in 1999. Shortly after, he met Mark Dillon with whom he founded his first company – SimulScribe. The company was opened in March 2003 and its main purpose was to convert voicemail into text messages then send them to emails and mobile phones. A few months later, he invested in the organization Unsubscibe.com, which aims to remove unwanted mailing lists.
He founded his own company, called it Doorbot and funded it with $365,000. Immediately after that, he went to the ABC television show Shark Tank with the aspiration to receive further investment for his brand new business. After spending several episodes on the show and failing to receive a good offer, Jamie moved on to search for other investors.
Following Shark Tank, his company was renamed from Doorbot to Ring and went on to make an estimated $5 million in sales per year. With the growth of Ring, many wealthy investors such as Goldman Sachs, Qualcomm Ventures, and Sir Richard Branson invested in the company.
After almost one year of discussions, in February 2018, the entrepreneur sold his company to Amazon for a value of between $1.2 billion to $1.8 billion. The purchase was highlighted by multiple news and media outlets and helped Jamie Siminoff’s name rise to stardom, as well as increase his net worth to almost half a billion. Or so we suspect.
What makes a businessperson like Jamie Siminoff so successful is not just his Amazon purchase but his many business ventures and professions. Even before his prosperous company grew and was sold to the giant Amazon, Jamie held multiple board and advisor roles in booming companies and organizations. While being the board member of Ring, he was also an advisor and investor of Flo Technologies (water damage prevention company), and Qwiki (organization related to the automated video production). Since 2010, Siminoff has been part of the board of directors of Audio Micro, an organization that offers royalty-free music and sound effects.
Another reason why the advisor and investor has been so successful is his participation in multiple events, where he was a speaker. Among one of the first events where he worked as a speaker is LeWeb in Paris, France from December 2014. Throughout the past five years, he has spoken in events such as New Co Los Angeles, Slush 2016, Insure Tech Connect 2017, Tech Crunch Disrupt San Fran 2018, GeekWire Summit 2018, and SUMMIT LA 2018.
Summing-Up
Jamie Siminoff is one of the richest businessmen in the New Jersey area. The entrepreneur began his business career in the 2000s just after he earned his bachelor’s degree in science from the Babson College in Massachusetts. For the past twenty years, he has founded and funded several companies, with the most notable of them all being Ring Inc. that he recently sold to Amazon for over a billion dollars, and thanks to which he also became famous.
