Permaplug Charger Lock Update | Shark Tank Season 16
In 2019, Zak was sleeping over at a friend’s place when he saw something odd—his friend had super-glued a charger to the wall so no one could take it. That reminded him of growing up with cousins, always losing chargers at home because someone would take them and never return them. So, he came up with Permaplug, a lock that keeps your charger in place so it doesn’t go missing. Will the sharks back this simple fix? Let’s find out in our Permaplug update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to Permaplug after
Zak pitched his permanent fix for lost phone chargers on
In terms of a Permaplug update, the company expanded its product line to support both standard and Decora outlets. Further, since appearing on
| Shark | Result |
| Lori Greiner | Accepted offer of $350,000 for 20% equity plus a $1 royalty per unit sold until $350,000 is paid |
| Kevin O’Leary | $350,000 for 15% equity and a $2 royalty per unit sold in perpetuity |
| Daniel Lubetzky | $350,000 for 25% equity |
| Robert Herjavec | No offer |
| Mark Cuban | No offer |
Shark Tank Permaplug Pitch
- Entrepreneurs: Zak Jones
- Business: Charger lock
- Ask: $350,000 for 15% equity
- Result: $350,000 for 20% equity plus a $1 royalty per unit sold until $350,000 is paid
- Shark: Lori Greiner
Zak walked into
He introduced Permaplug, a patented charger lock that keeps chargers secured and plugged in.
He explained how often chargers go missing, especially in homes with kids, roommates, or guests.
Permaplug is simple to install. Users remove their outlet cover and replace it with the locking system, which comes with a dual fast charger and charging cables.
It locks the charger in place and prevents it from being unplugged or stolen.
During the pitch, guest shark Daniel Lubetzky asked if it worked outside the home. Zak replied that hotels and schools were already using it.
Kevin O’Leary then asked about sales. Zak responded with $456,000 in year-to-date sales and $665,000 in the past 12 months.
Robert Herjavec wanted to know how Zak generated those numbers. Zak explained that all sales were direct-to-consumer.
He uses social media, organic marketing, and SEO tools to drive traffic.
Most sales come from Amazon, but he also pushes traffic to his website with better pricing.
Zak shared that his profit margin is 58%, and his customer acquisition cost is under $15. The average order value is around $58.
Kevin asked what he’d do with the investment. Zak said he needed it to manage inventory and cash flow.
He owns 100% of the business, carries no debt, and runs the company full-time with his wife. They handle packing and shipping themselves while raising two young children.
Lori Greiner asked about ownership and plans. Zak confirmed he’s not paying himself yet and is living off savings for now. He wants to reinvest everything into the business first.
Kevin offered $350,000 for 15% equity and a $2 royalty per unit forever.
Daniel also followed up with $350,000 for 25% equity and no royalty.
Lori jumped in and offered $350,000 for 20% equity, along with a $1 royalty per unit until she recoups the $350,000.
Ultimately, Zak accepted Lori’s deal.
Keep reading our Permaplug update to find out what happened next for his company.
Shark Tank Permaplug Update
Our Permaplug update found that the company has expanded its product line to include versions compatible with both standard and Decora outlets.
They now offer a wide range of charging cables, USB-A to Lightning, USB-A to USB-C, USB-C to Lightning, USB-C to USB-C, and USB-A to Micro-USB in 3 ft, 6 ft, and 10 ft lengths.
Permaplug also introduced special bundles, like the Permaplug x MDRN Docking Station, to provide customers with complete charging solutions.
Our Permaplug update also found that products are now available in the United States, Canada, and Mexico.
Since its
Products are available on the Permaplug website and Amazon.
Once the dust settles, we’ll bring you another Permaplug update.
For other company updates from
Before you go, be sure to check out our list of all the Shark Tank Season 16 products.
Marvin Uzor
Marvin Uzor is a content contributor for Shark Tank Recap. He specializes in crafting engaging, well-researched content that delve into the latest Shark Tank stories, keeping readers hooked. He has a soft spot for his favorite Shark Tank companies, Bombas and Doorbot, known for their innovation and impact.