1000.5x2 season 5

DoorBot


 

                  Shark Tank season 5 episode 9 started with Jamie Siminoff, owner of DoorBot, asking for a $700,000 investment in exchange for 10% equity in his modernizing doorbell company. DoorBot is the Wi-Fi enabled video doorbell that allows you to see and speak with visitors through your smartphone or tablets from anywhere in the world.DoorBot is a high-tech doorbell that allows homeowners to see and communicate with guests at their front door via a smartphone app, that Jamie calls “caller ID for your front door.” The units sell for $199 apiece and cost $81.83 to make. Jamie sells DoorBots primarily direct to consumer, which has helped him hit $1 million in sales in the last 9 months. While some of the Sharks are skeptical about Jamie’s high valuation and ability to grow the business against cheaper competitors, Mr. O’Leary is quick to make his typical royalty-laden offer. Kevin offers Jamie $700,000 for 10% royalty, which drops to 7% after his investment is recouped, with 5% equity. Jamie isn’t interested in a royalty, so he counter offers with a $700,000 loan at a 10% interest rate, and a 3% equity kicker. Kevin backs off from the deal with his iconic, “you’re dead to me.” – See more at: http://sharktankzone.com/content/shark-tank-season-5-episode-9-ends-no-deals-not-even-surprise-ride#sthash.7bMhNAVe.dpuf

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