What is Jamie Siminoff's net worth? How much did he make from Ring?
Jamie Siminoff is an American innovator and entrepreneur best known for pitching Ring, a game-changer in smart home technologies. Like many revolutionary inventors, Siminoff's riveting grass-to-riches story began in his garage. What is Jamie Siminoff's net worth?
Source: Getty Images
TABLE OF CONTENTS
Jamie Siminoff's net worth highlights his success as the founder of Ring and several other ventures. From Gadget Tronics to Unsubscribe.com, his entrepreneurial achievements have greatly contributed to his wealth. His diverse career reflects his lasting impact on various industries.
Profile summary
| Full name | James 'Jamie' Siminoff |
| Gender | Female |
| Date of birth | 18 October 1976 |
| Age | 48 years as of 2024 |
| Zodiac sign | Libra |
| Place of birth | Chester Borough, New Jersey, United States |
| Current residence | La Belle, Missouri, United StatesSt. Louis, Missouri, United States |
| Nationality | American |
| Ethnicity | White |
| Sexuality | Straight |
| Religion | Christian |
| Height in centimetres | 180 |
| Height in feet | 5'11" |
| Weight in kilograms | 60 |
| Weight in pounds | 132 |
| Hair colour | Brown |
| Eye colour | Blue |
| Father | David Ellis Siminoff |
| Siblings | 1 |
| Marital status | Married |
| Spouse | Erin Siminoff |
| Children | 1 |
| High school | West Morris Mendham High SchoolMorristown Beard School |
| College | Babson College |
| Profession | Inventor, entrepreneur |
| Net worth | $300 million |
| Social media |
What is Jamie Siminoff's net worth?
According to Celebrity Net Worth and Kahawa Tungu, the founder of DoorBot is allegedly worth $300 million. His wealth was sourced from selling his invention, the WiFi-enabled video doorbell and proceeds from start-ups such as Body Mint, SimulScribe, Gadget Tronics, SNAP Garden, Unsubscribe.com, and Honest Day's Work.
How did Jamie Siminoff get rich?
Siminoff began his entrepreneurial endeavours at Babson College. At the time, he ran an electronics business, Gadget Tronics, that sold televisions and stereos. He later created some start-ups before entering home security with the creation of Ring, formerly DoorBot.
Source: Getty Images
He later created several start-ups before entering home security with the creation of Ring, formerly DoorBot. He sold his first start-up, an online calling service, for $1 million in 2001. His second start-up, a voice mail transcription service, sold for $17 million in 2009.
Before Amazon acquired the smart doorbells company, Siminoff sold the devices to homes and businesses. In December 2013, he recorded sales of about $1 million. According to Digital Trends, the company made about $5 million in sales in February 2018.
In the same month, Amazon announced that it had acquired Jamie Siminoff's ring doorbell technology in a deal worth about $1.1 billion. According to Forbes, Siminoff’s ownership stake at the time of the sale was 10%.
Properties
Jamie owns a 75-acre farm in the small town of La Belle in St. Louis County, Missouri, United States. He also owns three other homes in Los Angeles, Nantucket and Aspen, Colorado, and a coffee shop in Nantucket, The Handlebar Café.
The founder of Ring has long owned a Land Rover Defender 90, a gift from his father. After selling Ring, he splurged on himself with a $8,000 mountain bike, a specialised S-Works Epic.
Source: Getty Images
Jamie Siminoff's background
Jamie Siminoff was born on 18 October 1976 in Chester Borough, New Jersey, United States. Since appearing on Shark Tank, Jamie has gained significant fame.
Growing up, Siminoff was a curious child who spent his time tinkering and building things in his basement. His father, David Ellis Siminoff, co-owned a steel plant that forged steel pipes for oil refineries. He has one brother, John Siminoff.
When recollecting details of his childhood, he often speaks of his parents' influence on his career path. As a child, he used his father’s tools to build small inventions and take apart television sets after school. He also built homemade knives, toy aeroplanes, humane mouse traps, heated blankets, and remote-controlled cars.
Where did Jamie Siminoff go to school?
Jamie attended a public high school, West Morris Mendham High School, before transferring to a private school where his innovative spirit grew. At Morristown Beard School, he flourished, rediscovering his passion for architecture and building things.
After high school, he enrolled at Babson College, earning a Bachelor of Science in Entrepreneurship and a Foundations of Management and Entrepreneurship course. In 2021, he received an Honorary Doctor of Laws degree from the college.
Source: Getty Images
Career
Ever the entrepreneur, Siminoff began earning at Babson College. He sold actual plans and briefs after winning a Babson business planning contest. He also earned through his electronics business, Gadget Tronics.
After graduating, he started several start-ups, which he later sold. He heeded the call of his innovative roots and began working in his garage. Speaking to MBS, reflected on his shift in focus from entrepreneurship to innovation, saying;
I told my wife, ‘I am going into the garage. I am going to hire two people, two interns, and I’m just going to build stuff.' Thankfully, as crooked as she looked at me, she did still say, ‘Great. that sounds like a good career choice. You have accomplished so much in the garage.’
The inspiration for Ring took shape during this period as he worked on developing a modular gardening system, SNAP Garden. The idea arose from the frustration of being unable to hear the doorbell while working in the garage. While sharing the story behind Ring story, he said;
I would miss people, miss packages. On the side, I soldered a bunch of stuff together, and that was the first DoorBot. It was so obvious to me.
He added:
Why wouldn’t your doorbell go to your phone, and why can’t you see and talk to who is there from your phone? To this day, it does not seem like an invention to me because it was so obvious.
Source: Getty Images
In November 2013, Siminoff appeared on season 5 of ABC's Shark Tank, where he pitched the world's first WiFi-enabled doorbell device, then called DoorBot. Although he left without a deal, Ring continued to record growth and additional popularity, even attracting the interest of Richard Branson and Shaquille O'Neal.
In 2018, Amazon's DoorBot acquisition became its second-largest after Whole Foods. Following the sale, Siminoff remained at the company as its Chief Inventor. In May 2023, Siminoff publicly announced his exit from Ring.
In 2021, the serial inventor partnered with Dr Santosh Kesari, a neuro-oncologist, in pursuit of a cure for cancer. This passionate endeavour was fueled by his father's diagnosis of glioblastoma, a rare brain cancer. Through the partnership, he funded Kesari’s innovative ideas, such as treating through immunotherapy.
After leaving Amazon, Jamie Siminoff became CEO of Latch. In November 2024, Latch announced his expected transition from Chief Strategy Officer to an advisory role at the company as it relaunched as DOOR. The transition will be effective on 1 January 2025.
Who is Jamie Siminoff's wife?
Jamie is married to Erin Siminoff, the Executive Vice President of Production at Fox 2000. She had previously worked as a creative executive in productions such as Walk the Line, The Fault in Our Stars, Paper Towns, and The Longest Ride and producer for What the Dinosaurs Did Last Night.
Source: UGC
The couple have one child, Oliver Siminoff. Their son was diagnosed with a rare genetic disorder, galactosemia, shortly after his birth. Through philanthropy, the couple has become a driving force in researching and developing new methods for understanding, diagnosing and treating the disease.
FAQs
- Who is Jamie Siminoff? He is the inventor behind the revolutionary home security system, Ring.
- Where was Jamie Siminoff born? He was born and raised in the United States in Chester Borough, New Jersey.
- Is Jamie Siminoff married? He is married to Erin Siminoff.
- What is Jamie Siminoff doing now? He is the Chief Strategy Officer of Latch.
- How did Jamie Siminoff start his company, DoorBot? He created the DoorBot in his garage after failing to hear his doorbell ring.
- When did Jamie Siminoff start his company, DoorBot? He invented the home security device in 2011 in his garage.
- When did Jamie Siminoff go to Shark Tank? He first appeared on Shark Tank in 2013.
- Is Jamie Siminoff a billionaire? He is not a billionaire.
- Does Jamie still own Ring? Ring was acquired by Amazon in 2018.
- How much did Jamie Siminoff make from selling Ring? The company was sold at $1.1 billion.
- How much is Ring worth now? The company has not been valued at the time of this writing.
Jamie Siminoff's net worth reflects his significant success as the innovator behind DoorBot, now Ring. In addition to Ring, he built Gadget Tronics, Body Mint, SimulScribe, SNAP Garden, Unsubscribe.com, and Honest Day's Work.
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