Doorbot has had a pretty good run.
The video doorbell featured on ABC’s entrepreneurial reality show “Shark Tank” made $4 million in sales after selling out its 20,000 units last month, according to inventor Jamie Siminoff.
But now the doorbell has rebranded as Ring, a revamp that Siminoff said may as well represent the real launch of his Santa Monica startup.
“It’s almost like we were doing a warm-up, and now we’re starting the marathon,” he said.
Doorbot is basically a doorbell connected to an app; customers can see who’s at their front door. Ring is modeled more as a security camera with features such as motion detection, surveillance and recording. Ring will retail at $249 a pop though presales have already begun at the price of $199. Siminoff said Ring has brought in mid-six-figure revenue within the first few weeks of its presale period. Presale units will begin shipping in November.
Siminoff sounded confident in the rebranded product, saying he plans to see a run rate of $100 million by the end of next year.
“It’s probably a lofty goal,” he said. “But I learned a long time ago, you might as well set your goals high and fall a little short than set low expectations for yourself.”
The video security startup last raised $4.5 million in July.