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Shaq telling story of investing in Ring before Amazon bought it for $1B is very entertaining. He wanted a security camera. A firm tried milking him for $80k (“no…beat it”). Then went to Best Buy, saw Ring camera and bought it. Loved the remote monitoring so much, he tracked down founder and told him he wanted to partner and do ads for the product (took his fee as equity). It sold to Amazon shortly after. Lesson: Always be sourcing deals.
Ring founder Jamie Simnioff talks about how he met Shaq in Ring’s CES booth and they ended up partnering. Shaq took his fee in equity and would often FaceTime into board meetings. https://t.co/8gI5zPC8w2 https://t.co/JNhfre98yl