The judges might have found it flat, but the public went crazy after the airing of the episode, bringing about $5 million more in sales.
Soon, Siminoff rechristened his brand to “Ring” — a more approachable and financially bankable name. And that is when he caught the attention of Virgin Group founder Richard Branson. The millionaire, who happened to see a tourist to his island interact with a delivery boy while on vacation, quickly took to Ring.
With Richard’s backing, the new $28 million funding made Ring into a $60-million venture.
Now, in the second month of 2018, Amazon is all set to buy the home security solutions startup — at a reported price of about $1 billion according to a Reuters report citing unidentified sources.
If this holds true, Ring will make it to the second biggest Amazon buy — after the $14-billion Whole Foods deal.
The value that Amazon placed on Ring is no laughing matter. It also points to how Amazon is looking at things. With a range of products to delivery solutions and home solutions, Ring’s portfolio would also add the doorway, a conduit completing the one void Amazon could fill in its entire circle of consumerism.
INFOGRAPHIC: These are the biggest Amazon deals since 2017
