The Loop
The most successful product in *Shark Tank* history wasn't even a success on *Shark Tank*
Everybody has that "one that got away" in their lives, but five Shark Tank judges share the same tale of regret. And it's not a person, but a product. Ring.
Perhaps, you've heard of this budding brand. Perhaps, you even own one of its WiFi enabled video doorbells. But if you do, just know that none of the Sharks got a single cent of your money because they all passed on investing when they had a chance. Talk about having egg on your face. Hey, how about that for a product? An egg that attaches to someone's face. You know, as a joke or a prank? Sounds fun, right? No? Damn it. Someday, I'll be on that show. Someday. . .
Anyway, Ring was in the news on Wednesday when news broke that Amazon bought the company for "more than $1 billion." Yep, that's billion. One BILLION dollars.
Whoops. The Sharks have landed some sweet deals through the years (Scrub Daddy, Wicked Cupcakes, Groovebook, etc.), but none have even come close to being worth that much. Again, whoops.
Here's Siminoff's original pitch:
Of course, it probably didn't help that the company's name at the time was DoorBot. Let's just say "Ring" has a better, um, ring to it.
Still, savvy investors like Mark Cuban, Lori Greiner and Daymond John all passed? Even my personal fave, Robert Herjavec, a big player in the security world, said no?! Incredible.
And no, Mr. Wonderful's fake offer doesn't count. Even Siminoff mocked his royalty deals in the pitch. Heck, I wouldn't even take that for my silly egg-on-the-face idea. Kidding. Mr. Wonderful, if you're interested, give me a ring. Sorry, I meant a call. Please give me a call.