If billionaire Sir Richard Branson likes your idea enough to
invest in your brand, well, you’re probably onto something. In this case, that
would be Ring, a souped up version of the doorbell with remote video
capabilities. Branson, along with other investors, helped Ring raise $28
million in private financing last August.
In a December interview with FOXBusiness.com, founder Jamie
Siminoff said his main goal now is to build the brand. “We’re pretty focused on
the business with 99% maintaining growth and operations.” Siminoff also noted
that sales have jumped 1330% this year but declined to disclose actual revenue
numbers. In early January, Ring will release even more details on its
financials.
Branson, who founded Virgin Group, which includes multiple businesses
such as airline Virgin America (VA), has a net worth of
nearly $5 billion, according to Forbes. As for growing that net worth Branson
seems to prefer the start-up world over traditional stocks and bonds. “There
are so many great ideas out there, we are keeping our ears open and looking to
meeting these wonderful people,” he said during an appearance on FOX Business
Network’s Mornings With Maria in November. When describing Ring, Branson’s
enthusiasm was clear: “It’s one example of new technology making a hell of
difference in people’s lives and protecting people.”
When asked how hands on the mogul is, Siminoff said, “Branson is
amazing and we talk quite a bit.” He also credited the company’s other
investors including True Ventures, a San Francisco, CA, based venture capital
firm, for their guidance.
Ring,
which is sold on Amazon.com (AMZN) and on Ring.com, as
well as in big retail shops such as Home Depot (HD) and Lowe’s (LOW), offers homeowners a
vehicle in which they can see who is at the door when they’re not home. By
using your smartphone, you can talk with whoever is ringing your doorbell. Ring
also has motion sensors which will trigger mobile alerts if activity warrants.
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