Jamie Siminoff is an American entrepreneur and inventor who is best known as the founder and chief inventor of Ring, a home security and smart home company that was acquired by Amazon for over $1 billion in 2018. Siminoff is also a guest shark on the ABC business reality television show Shark Tank. As of 2023, Jamie Siminoff’s net worth is estimated to be around $300 million.
Jamie Siminoff Biography
Early Life and Education
Jamie Siminoff was born on October 18, 1976, in the USA. He graduated from Babson College in Wellesley, Massachusetts, in 1999 with a degree in business.
Siminoff started his entrepreneurial career after graduating from college. He founded several successful start-ups, such as PhoneTag, a voicemail-to-text transcription tech company that he sold for $17 million in 2009, and Unsubscribe.com, an online service that helped users get rid of unwanted emails that he sold in 2011.
In 2011, Siminoff created the Wi-Fi-enabled video doorbell called DoorBot in his garage. He pitched his product on Shark Tank in 2013 but failed to secure a deal with any of the sharks. He later rebranded his product as Ring and continued to grow his company with the help of other investors. In February 2018, Amazon bought Ring for more than $1 billion, making Siminoff one of the most successful entrepreneurs in the history of Shark Tank. In 2019, Siminoff returned to Shark Tank as a guest shark.
In 2023, Siminoff announced that he was leaving Amazon and Ring to become the CEO of Latch, a commercial smart home company that provides smart locks and other devices for apartment buildings. He also revealed that he had founded a stealth start-up called Honest Day’s Work, which aims to empower residential service providers such as housekeepers, dog walkers, electricians, and drivers.
Jamie Siminoff Net Worth
Estimate of Net Worth in 2023
According to various sources, Jamie Siminoff’s net worth in 2023 is estimated to be around $300 million. This is based on his earnings from selling his previous companies, his stake in Ring after the Amazon acquisition, and his investments in other ventures.
Sources of Wealth
Siminoff’s main sources of wealth are his entrepreneurial endeavors. He has founded and sold several successful companies, such as PhoneTag, Unsubscribe.com, and Ring. He has also invested in other businesses, such as Latch and Honest Day’s Work. Additionally, he has earned income from appearing as a guest shark on Shark Tank.
Achievements and Success
Highlights of Jamie Siminoff’s Career
- Founded PhoneTag, a voicemail-to-text transcription tech company that he sold for $17 million in 2009.
- Founded Unsubscribe.com, an online service that helped users get rid of unwanted emails that he sold in 2011.
- Created DoorBot (later rebranded as Ring), a Wi-Fi-enabled video doorbell that revolutionized the home security and smart home industry.
- Pitched DoorBot on Shark Tank in 2013 but did not get a deal.
- Grew Ring into a billion-dollar company with the help of other investors.
- Sold Ring to Amazon for more than $1 billion in 2018.
- Returned to Shark Tank as a guest shark in 2019.
- Left Amazon and Ring to become the CEO of Latch, a commercial smart home company that provides smart locks and other devices for apartment buildings.
- Founded Honest Day’s Work, a stealth start-up that aims to empower residential service providers such as housekeepers, dog walkers, electricians, and drivers.
Notable Ventures and Contributions
- Ring: Ring is a home security and smart home company that offers products such as video doorbells, security cameras, smart lighting, alarm systems, and accessories. Ring’s products allow users to see who is at their door from their smartphone or other devices. Ring also has a feature called Neighbors by Ring, which is a community-based app that lets users share videos and alerts with their neighbors and law enforcement agencies. Ring’s mission is to make neighborhoods safer by reducing crime and increasing convenience.
- Latch: Latch is a commercial smart home company that provides smart locks and other devices for apartment buildings. Latch’s products enable building owners and operators to offer keyless entry and access control for their residents and service providers. Latch also has a platform called LatchOS, which is a full-building operating system that integrates with other smart home products such as Sonos speakers, Honeywell and Ecobee thermostats, and Amazon Alexa. Latch’s vision is to create a seamless living experience for urban dwellers.
- Honest Day’s Work: Honest Day’s Work is a stealth start-up that Siminoff founded in 2023. According to Latch’s press release, Honest Day’s Work’s mission is “to enable residential service providers, such as housekeepers, dog walkers, electricians, and drivers…more control over their businesses and enable them to deliver high-quality service to their customers.” The details of how Honest Day’s Work achieves this mission are not yet disclosed.
Marital Status and Family
Siminoff is married to Erin Siminoff, who is an executive vice president at 20th Century Fox Television. They have a son named Oliver Siminoff, who was born in 2010.
Physical Appearance and Social Media Presence
Siminoff is a tall and slim man with brown hair and blue eyes. He often wears casual clothes and glasses. He has a tattoo of a ring on his left ring finger.
Siminoff is active on social media platforms such as Twitter, Instagram, and LinkedIn. He has over 40,000 followers on Twitter, over 20,000 followers on Instagram, and over 10,000 connections on LinkedIn. He frequently posts about his personal and professional life, as well as his opinions on various topics.