Ring Since Amazon; What’s in It for Security Dealers?
What started out as an individual product invention a few years ago, has turned into a billion-dollar, total smart home and security product portfolio owned by goliath online retailer Amazon. SDM takes a closer look at Ring, how it all began, and what security dealers should know.
Ring began as an individual product launch in December 2012 with the Ring Video Doorbell (then called the Doorbot). Invented by Jamie Siminoff, the smart doorbell was designed to reduce crime in communities by allowing users to see who is at their door anytime through their smartphones. A year later, in 2013, the Doorbot was featured on ABC’s Shark Tank television show, and subsequently rejected by the investors — though the company has since experienced exponential growth and a growing smart product portfolio, resulting in Ring being acquired by Amazon for an estimated $1 billion, according to Reuters. The acquisition closed on April 12, 2018.