Shark Tank’s Benjilock: An Update
Benjilock is a fingerprint padlock hybrid. It was presented on ABC’s Shark Tank during season 9. Find out more about the product below, including whether or not a deal was made, and where the company is now.
Benjilock Update
1) Robbie Cabral is the CEO and founder of Benjilock. His fingerprint padlock got 4 of the sharks to bid on him, each trying to get him to make a deal. Robbie ended up choosing Kevin O’Leary, aka: “Mr. Wonderful.”
2) Founded in 2014 by Cabral, the goal is redefining the experience of personal security. The use of hybrid technology (fingerprint or key if needed) puts the consumer at the forefront. With the patent secured, it was a no-brainer for Robbie and Kevin work out a license deal. A large-scale manufacturer (Hampton) rolled out the product, and the rest is history.
3) Robbie went in asking for $200,000 For 10%, and got the $200K for 15%. It’s pretty difficult to get “Mr. Wonderful” onboard with a deal, but Robbie’s well-researched and innovative design proved otherwise.
4) Currently available online are padlocks, travel, sport, door, and bike locks. But, you can also buy at retail stores. Those include ACE Hardware, Walmart, Home Depot, and Lowe’s.
5) The internet and social media age really helped business. Now, Benjilock has 112K followers on Instagram, over 7,200 on Twitter, and 100K Facebook fans. Pretty impressive, right? That’s the power of Shark Tank for you!
Catch all-new episodes of Shark Tank on Fridays at 8 PM ET on ABC.
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