The Best IPOs to Buy for the Rest of 2017: Ring
IPO Timetable: Late 2017 (estimated)
Innovators have a knack for re-imagining ordinary things.
This is the case with Ring founder Jamie Siminoff, who thought the doorbell could use a little freshening up. For instance, what about a doorbell that provides security for the home by using online video?
Or, as his wife called it, “Caller ID for the front door”?
Making this a reality was far from easy. In fact, Siminoff pitched Ring on Shark Tank and was rejected by all the investors except Kevin O’Leary, who offered a fairly tough deal. In the end, Siminoff went on to seek out other investors.
That ended up being a path to success. The airing of the show helped gin up sales for the Ring product, and since then, Siminoff has raised more than $209 million from investors including Richard Branson and Goldman Sachs Group Inc (NYSE:GS).
A Ring IPO could come near the end of this year, and Ring should have plenty of excitement in store for potential investors. The company is the leader in its category at roughly 95% of the market in the U.S. And Gartner research says the general security market is forecast to grow at 26% annually to $11.5 billion by 2020.