About Ring

An Open Letter to Shark Tank After 2 Years

By Jamie Siminoff, Chief Inventor and Founder on November 13, 2015

Dear Shark Tank,

On behalf of the 180 team members located in our Santa Monica, CA and Phoenix, AZ offices, I would like to thank you. Because if it was not for you we would not exist as a company.

It was 2 years ago on this day, November 15th 2013, that you aired our episode. At that time our team was 8 people, working in my garage and going out of business. While we had some sales we did not have enough to cover the massive costs that we were going to face in creating the product and company we have today.

We had a good product, a great mission “To Reduce Crime in Communities” but that alone was not getting us where we needed to go. We applied to Shark Tank with the hope that maybe that would be the lucky break to take us to the next level but since 40,000 other people applied the year we did our chances were pretty slim…

And then we got the call. No one could believe it, we were going to be on Shark Tank! But as they say, “if it sounds too good, it probably is.”

What many people don’t know is that even after you are “picked” to be a contestant, Shark Tank is still a gamble. Being on Shark Tank requires a lot of preparation; from building a creative set, all at the entrepreneur’s expense, to the practicing and rehearsing that takes at least a month. And here is the kicker: not everyone gets a deal and even after you film your episode is still not guaranteed to air.

We went all in for Shark Tank. We spent $10,000 building our mock front-of-the-home set, and the entire team of 8 was fully concentrated on Shark Tank while also focused on running a business for a month in preparation for the show. We thought the exposure would be great, but at the time we really wanted (or more like needed) the money.

I will never forget leaving the set without a deal. It was horrible. I could not believe that we had done all of that work and were walking away with nothing. Sure I thought if we aired (the episode has a lower chance of airing without a deal) that we would get a little bit of traction, but I did not think it would be enough to make a real difference for us.

I was gutted telling the team. But the show must go on and we went back to work, maintained focus and did what we could.

And then we aired… and our lives changed forever. The bump we got from Shark Tank was not decent, it was extraordinary. And it wasn’t just something that lasted for the weekend..it’s still happening today, two years later. In terms of dollars, it was worth millions, but it also brought and provided an incredible amount of credibility and awareness for us with industry partners.

Thanks to Shark Tank, we were able to hire more engineers and take the company to another level. It was like replacing the gas in our car with jet fuel…

We are still driven by our mission “To Reduce Crime in Communities” and remain humble. We did begin in a garage, but we have certainly come a long way in the last 2 years.

Thank you to Mark Burnett, the Sharks, our amazing producer Kate Ryu and everyone who works on the show. Your dedication to making such a great show has allowed my team and I to really live the American dream.

Jamie

CEO and Chief Inventor, Ring