Shark Tank Failure? See What The Show Did For The DoorBot’s Sales

jamie siminoffJamie Siminoff is the definition of “serial entrepreneur.” He has six startups to his name including a successfully funded (and eventually refunded) Kickstarter campaign. He launched a crowdfunding platform called Christie Street that is currently dormant, but before it went dormant he also crowdfunded a second product he devised – the DoorBot – on the site.

Eventually the DoorBot took Siminoff to ABC’s Shark Tank. How’d it go? If you’re judging purely by funding, not so well. He didn’t close a deal.

Related: DoorBot Turns Down Offer From Shark Tank’s Kevin O’Leary (Video)

Having said that, something amazing happened after that appearance. In an interview with The Wall Street Journal, Siminoff shared the revelation that he sold 10,000 DoorBot units in the month after that appearance.

DoorBot ExteriorFailure? Hardly.

However, he does admit that not everyone he talked to was initially impressed by the fact that he made it onto Shark Tank

There was definitely a snobbery of, “Oh you were on ‘Shark Tank,’ ” almost like, “That’s embarrassing.” Then I showed them the numbers and what the show has done for us in terms of awareness and everything else. If you’re a consumer brand, I don’t think there’s anything else quite like [“Shark Tank”] that can do that for you.

Siminoff eventually raised $1 million for the DoorBot. $700,000 of that came after the appearance aired. None of it came from the “sharks.”

Read the full interview here.


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