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What is Permaplug?
Perma Plug is a patented locking system for chargers and cables that prevents them from being stolen, misplaced, or accidentally unplugged. It integrates with standard electrical outlets and includes a dual fast charger.
Permaplug's Shark Tank Pitch Recap
Zak pitched Perma Plug, a patented locking system to secure chargers and cables to outlets, seeking $350,000 for 15% equity. He revealed impressive year-to-date sales of $456,000, primarily through direct-to-consumer channels and Amazon. Mr. Wonderful offered $350,000 for 15% plus a $2 royalty in perpetuity, which Zach declined. Lori Greiner then offered $350,000 for 20% and a $1 royalty until her investment was recouped. Zach accepted Lori's offer, citing her expertise in scaling businesses.
Who invested in Permaplug?
Lori GreinerPermaplug's Pitch Highlights
Zak's inspiration for Perma Plug came from seeing a charger superglued to an outlet.
Zak and his wife were fulfilling all orders themselves, working late into the night.
60% of Perma Plug's revenue came from Amazon, despite Zach's preference for direct sales.
Zak used AI and automation tools for marketing, including generating blog posts based on customer questions.
Zak planned to forgo a salary until 2025 to reinvest profits into the company.
Permaplug Shark Tank Update
- Secured a deal with Lori Greiner on Shark Tank for $350,000 for 20% equity and a $1 royalty until the investment is recouped.
- Has made $665,000 in lifetime sales (12 months).
- Sells primarily direct-to-consumer through their website and Amazon.
Key Milestones
2019 - Patent Filed
Patent filed for the Permaplug device.
2023 - Product Launch
Permaplug product officially launched.
2025 - Shark Tank Appearance
Appeared on Shark Tank Season 16, Episode 18.
