Ring Hit -$70M Cash Shortfall by Withholding Payments to Factory Suppliers
Jamie Siminoff · Ring CEO Jamie Siminoff: The $1BN Amazon Acquisition; How Richard Branson Invested | 20VC #984 · 20VC with Harry Stebbings · Mar 3, 2023 · at 16:33
Jamie Siminoff, founder of Ring, details how Ring survived a liquidity squeeze before its eventual acquisition by Amazon.
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“We probably went -50 to seventy million at one point. But that's just because we just didn't pay the factories.”
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