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James Iles

Did Jamie Siminoff Pay $1 Million for Ring.com? Yes!

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By James Iles, Jun 13, 2017
  1. NamePros
  2. James Iles

    James Iles NamePros Writer PRO Gold Account VIP Trusted Blogger

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    Ring has become a leading brand in the home security industry, having raised over $200 million in funding from famous faces such as Virgin founder Sir Richard Branson. The innovative Ring team lead by inventor Jamie Siminoff have released some of the most popular home security products.

    The company was originally called Doorbot but rebranded to Ring in 2014, which coincided with a $5.5 million funding round. In an interview with NamePros, Ring's founder Jamie Siminoff said:

    Today, information has come to light that may have revealed the price that Ring paid to acquire Ring.com. An LA Times article shared on Twitter by DotWeekly's Jamie Zoch (@Yofie) is quoted as saying:

    Screen Shot 2017-06-13 at 14.37.01.png
    Ring.com's Current Website
    Does this indicate that Ring's founder paid $1 million for the Ring.com domain? I sent a message to Jamie Siminoff to ask for more information, but unfortunately, Ring's founder cannot confirm the exact sales price.

    If the figure quoted in the LA Times is correct, it would place Ring.com as DNJournal's joint ninth largest sale of 2014, tied with QNB.com, Check.com and BTC.com.

    If you missed our interview in 2015 with Jamie Siminoff, it is available to read, and it contains several interesting points as to why Jamie opted to acquire Ring.com in the first place.


    Update on Jun 14, 2017: We have received confirmation from a third party that the price of the Ring.com domain name was indeed $1 million. We are currently working to further verify this information.

    Update on Jul 24, 2017: We've received further details from an anonymous source regarding the Ring.com sale. According to a screenshot sent by our source, the sale of Ring.com included an initial payment of $175,000 followed by a later payment of $825,000, bringing the total to $1 million.

    Update on Mar 7, 2018: The $1 million purchase price for Ring.com has now been confirmed by Ring's CEO Jamie Siminoff. In a recent podcast, Jamie revealed the $1 million, two-part payment for the Ring.com domain name. The sale has now been listed as the fifth largest of 2016, according to @Ron Jackson's DNJournal.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
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  5. James Iles

    About The Author — James Iles

    Writer for NamePros.com, domain name investor and broker. For all inquiries relating to stories and interviews, please email: [email protected]

    This is James Iles's 399th blog post on NamePros. View all blog posts

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  6. Comments (9)

  7. franka46

    franka46 Upgraded Member Gold Account

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    Ha ,i just send the twitter feed about this to michael cyger about 30 min ago
    he was very pleased
     
  8. triple777

    triple777 Established Member

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    The guys at work were talking about security systems. They were comparing "ring.com and the other one."
     
  9. James Iles

    James Iles NamePros Writer PRO Gold Account VIP Trusted Blogger

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    Update: We have received confirmation from a third party that the price of the Ring.com domain name was indeed $1 million. We are currently working to further verify this with the third party.
     
  10. hookbox

    hookbox Active Member VIP

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    Ring.com is a great name and well worth the million paid for it, but now that they have moved beyond doorbells into security cams the name has become to specific with no room to pivot to the other products. Sometimes it's great to have such a target specific name and sometimes it's not.
     
  11. gbs domain

    gbs domain Be you!! VIP

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    ring.com is a smart buy for smart home for smart security system.
     
  12. offthehandle

    offthehandle . Gold Account VIP

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    The Ring name, has a nice ring to it. I just read this follow up on CNBC how even being rejected on Shark Tank, shows how powerful TV exposure is to some products, and even negative publicity (turned down) turns out good.

    “After 'Shark Tank,' we started selling Doorbots like crazy and that drove sales to $3 million within the year," Siminoff says on ABC's update. "As the business grew, we didn't want to be just one product, so we built a whole line of home security solutions and re-branded it as Ring."

    https://www.cnbc.com/2017/11/30/shark-tank-reject-doorbot-is-now-billion-dollar-company-ring.html

    Earlier article on Forbes.
    https://www.forbes.com/sites/zackfriedman/2017/02/22/shark-tank-ring-siminoff/#6fe25cd03312
     
  13. creataweb

    creataweb Top Member VIP ★★★★★★★★★★

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    Smart move. Certainly better than Ring.Horse :smuggrin:
     
  14. offthehandle

    offthehandle . Gold Account VIP

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  15. tonecas

    tonecas Top Member VIP ★★★★★★★★★★

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