Doorbot is the old name of one of the Amazon subsidiary Ring Inc. which is home security and smart home company. The company manufactures the home security products which have the feature of outdoor motion-detecting cameras, and the company also makes the Ring Video Doorbell. The company also hosts an app so that you can control your security system, and you can use it for social sharing of captured footage with users. It is one of those start-ups which was first rejected by Shark Tank but now is a successful one.
Inception
The Ring was initially named Doorbot, and it was founded in 2013 by Jamie Siminoff. The product was back then crowdfunded through Christie Street, and the product was able to raise US$364,000, which was more than requested $250,000.
In 2013 he also appeared in the episode of Shark Tank to get a $700,000 investment in the new start-up, and back then, he estimated that the company was worth $7 million. Well, judges didn’t like the product much, but Kevin O’Leary did show interest, but Siminoff declined as he was not happy with the amount he was offering. After being on the show, he rebranded the company, and the product received $5 million additional in sales.
Later in 2016, Shaquille O’Neal acquired an equity stake in the company, and then he became a spokesperson in the company’s marketing. The company raised then over $200 million in investments from many individuals, including Sir Richard Branson, who is the founder of Virgin Group.
Evolution
Amazon later acquired the Ring in February 2018, and the value was estimated between $1.2 billion and $1.8 billion. The company got into a problem when it was revealed that the employees of Ring had unencrypted access to the video recording from all the Ring Devices.
Ring faced a lot of criticism for this, but Ring said that it sought permission from the user before using their content in this manner. However, there were many concerns raised in the community. In July 2019 it was revealed that Ring was in partnership with the Lakeland Police Department and the department was granted access to the Law Enforcement Neighbourhood Portal” so that they can make posts on Neighbours and the LAPD could request the videos directly from Ring users, and it also received the donation of 15 Ring Cameras.
The cybersecurity firm Bitdefender alter identified a severe vulnerability in the Ring Video Doorbell Pro in 2019, and this patched before any disclosure in November.
The flagship product of the company is Ring Video Doorbell, and it is a smart doorbell that contains a motion sensor, HD camera, and a microphone. The product also offers a two-way audio connection. The device also integrates with the mobile app. The “Ring Chime” accessory is a unit that is plugged into the power outlet so that it can play the doorbell’s chime. It also an extended version, “Chime Pro,” which also doubles as a wireless repeater for the Wi-Fi networks.
You also need to have a “Ring Protect” subscription plan so that you can store and view the recordings from the cameras. If you don’t have any subscription, then you would only be able to view the real-time footage. The Ring has also launched the Neighbours app, which is a social networking app, and it allows users to discuss safety and security concerns in an area.
Awards & Achievements
Since it is not a music group or any other thing related to media, all of its awards and achievements concern to a professional level. The company has been rated 4 out of 5 by TechHive, and this rating has been given to the company due to its improvements in hardware and ease of installation. But the company criticizes the lack of printed and online documentation.
Net Worth of Doorbot in 2024
There isn’t much known how much the company makes individually, but it is a known fact that the company initially raised more than $250,000 by crowdfunding, and also it got $7 million in investment. As of April 2024, Doorbot has an estimated net worth of more than $2 billion.
So this was all about one of the most popular home security products that are used worldwide. The product was once considered a failure by many investors, but today it is used by millions of people. It is loved by millions of people, and the company has been receiving much praise from its investors, and many new investors are today ready to invest in the product, so we hope that the product continues to amass us with its feature in the future.