How Shaquille O’Neal beat Mark Cuban at his game In 2013, Ring CEO Jamie Siminoff pitched in Shark Tank as Doorbot, but left the show empty-handed. “I would pass on Doorbot again if given the chance” - Mark Cuban, 2018 A year after the pitch, Shaq got quoted a staggering $80,000 to upgrade his home security. Instead, he headed to Best Buy, bought Ring and hooked it up himself. Traveling in China, he was amazed to be able to monitor his home remotely. Driven by his experience, Shaq met the Ring CEO during CES in 2015 with one of the best pick-up lines ever: "𝗛𝗲𝘆, 𝗺𝘆 𝗻𝗮𝗺𝗲 𝗶𝘀 𝗦𝗵𝗮𝗾𝘂𝗶𝗹𝗹𝗲 𝗢’𝗡𝗲𝗮𝗹. 𝗜 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗶𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝗮𝗻𝗱 𝘆𝗼𝘂’𝗿𝗲 𝗴𝗼𝗶𝗻𝗴 𝘁𝗼 𝗽𝗮𝘆 𝗺𝗲 𝘁𝗼 𝗱𝗼 𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹𝘀 𝗮𝗻𝗱 𝘁𝗵𝗲𝗻 𝘄𝗵𝗮𝘁𝗲𝘃𝗲𝗿 𝗵𝗮𝗽𝗽𝗲𝗻𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝘀.". Apparently, it worked: - He deployed $1M as an angel investor - He received equity for promoting Ring - He installed cameras worth $1M Later that year, Richard Branson also invested and Ring was valued at $60M. In 2018, Ring was acquired for over $1B by Amazon. Ring wasn't the only investment Shaq made, he also wrote early checks in Google and Lyft. Today, he invested more than $100M in startups with an extremely powerful thesis: 𝗛𝗲 𝘀𝗶𝗺𝗽𝗹𝘆 𝗶𝗻𝘃𝗲𝘀𝘁𝘀 𝗶𝗻 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗵𝗲 𝗹𝗼𝘃𝗲𝘀. Legend. #startups #investing #shaq #venturecapital
Seems like the secret is having huge cash to drop on cool ideas. Great strategy if you have a trust fund or play pro ball for a bit to make 100mm+, but unfeasable for any normal person. I truly believe most people who could invest 1mm here and there would find many winners 🙌✨️
Shaq is a Sharq! 🦈
Shaq is all time awesome.
ofc Shaq beat Mark - he’s way taller & cooler
Shaq has transitioned into a true business person. It's interesting to watch folks in the sports/entertainment worlds transition their fame into business success and become legit business people.
I beg to differ on '𝗛𝗲 𝘀𝗶𝗺𝗽𝗹𝘆 𝗶𝗻𝘃𝗲𝘀𝘁𝘀 𝗶𝗻 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗵𝗲 𝗹𝗼𝘃𝗲𝘀.' Looks like he invests in products he finds extremely useful & feels many others find useful.
Love that guy Sebastian S.. Especially how he's raising and pushing his kids for excellence.
Wow wow wow Sebastian S.! Such a cool story! 👀 Leonard Armato
Managing Member of Advanced Exit Solutions
1moWhat if as an angel, the Big Aristotle froze his value in Ring at $1mm, and it grew to $100mm. He'd would pay taxes on the $1mm, versus paying income taxes on $100mm. 99% of this transaction would not be subject to income taxes.