How Amazon’s Shark Tank Competitor Innovates With The Format [Video]

Amazon has revealed its new streaming venture, and this one borrows the concept of “Shark Tank” with some in-house e-commerce perks of its own. The show — titled “Buy It Now” and hosted by comedian JB Smoove — will have contestants pitching their products to a rotating team of celebrity entrepreneur panelists such as Academy Award-winner Gwyneth Paltrow, actor Anthony Anderson, and skating legend Tony Hawk.

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The show will also feature Amazon executives as well as Ring founder Jamie Siminoff. Notably, Siminoff pitched the idea of DoorBot, touted as the world’s first WiFi video doorbell, on “Shark Tank” in 2013 but left the show empty-handed without agreeing a deal with any sharks. Following this appearance as a contestant, Siminoff transformed his invention into Ring, and sold the company to Amazonfor over $1 billion, before returning to “Shark Tank” as …