The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 17 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Siminoff Rejected a Prominent VC Firm for Ignoring Ring's Mission
“Very prominent VC. We sell comes to me and says like, when you pitched me, you totally screwed up. We never saw how good the business was. We totally would have invested. And I said, no, I was interviewing you. And you didn't pass the mission test.”
Ring Hit -$70M Cash Shortfall by Withholding Payments to Factory Suppliers
“We probably went -50 to seventy million at one point. But that's just because we just didn't pay the factories.”
Ring's $100M Funding Round Was Pulled Days Before Closing Over Lawsuit
“We have a round happening, and I get sued by someone who's very large in the business, They get an injunction against the product on me, which, you know, I will not comment on either way. We're, the investor decides, and you know, fair is fair, like a little t…”
Siminoff: Printing My Personal Email on Ring Boxes Actually Scaled
“Putting the email in the box is the one thing that actually did scale at Ring.”
Suster: Upfront seed-invested in Ring after Shark Tank passed
“We were the seed investor in Ring. Everybody on Shark Tank passed on it. We wrote a check.”
Siminoff Ordered $500M in Ring Inventory on Just $100M in Revenue
“Imagine like we went 3,000,030 1,000,001 70, To almost 500. So when we went from, like, one 70 to 500, I had to order, like, five hundred million dollars of inventory when we were, like, a hundred million dollar business.”
Siminoff: Selling to Amazon or IPO Were Ring's Only Acceptable Exits
“I told my investors, I told Amazon, I was either going to go public or sell to Amazon. Those are my two options. And it was because the only company that I felt would really take the mission Take it and allow us to keep executing on it and stay true to it was …”
Ring Signed Amazon Acquisition Term Sheet on January 1, 2018
“That was going into the holidays of 2017. We signed the term sheet with Amazon on January first of 2018. So literally like, it was like a, from solving this to selling to Amazon was like 45 days.”
Jeff Bezos Emailed Siminoff Post-Acquisition: "Don't Let Us Mess It Up"
“First email I got the day it closed, you know, came from Jeff and said, like, don't let us, you know, mess, mess it up. You know, you, like, you know, like you are in control.”
D'Augelli: Half of Ring's products were defective when True Ventures invested
“50% of their products at that point didn't work.”
D'Augelli: True Ventures' best investments like Ring and Splice looked weird
“I would say in most of our successful companies over time, they were not perceived as successful in the beginning. Things like Ring or Splice are companies that Today, I think people are like, that's, those are really interesting businesses, but there were kin…”
Ring Broke QVC's Single-Day Sales Record With $22.6M in One Day
“We broke the record for QVC for the year for sales in a day 22.6 million dollars in a day.”
Siminoff: Richard Branson's Investment Did Not Automatically Bring Ring Customers
“I think mostly people want to put a square peg in a round hole. So they want like Richard Branson invested and they like step back and like wait for the customers to come in. And like, that's not gonna happen. Richard Branson doing a blog post saying, I invest…”
Ring founder Jamie Siminoff spent $200K on an option for Ring.com
“At the time, you know, we were only raising three and a half million dollars. The ultimate cost for Ring.com would be a million dollars. But he said, hey, I have an option to buy it for a million dollars, but spending 200 K a day.”
D'Augelli: The video doorbell market was zero dollars when True backed Ring
“When we invested, the doorbell market was zero dollars.”