Shark Tank Global - Robbie Has A Difficult Time Choosing Between The Sharks | Shark Tank US | Shark Tank Global
Robbie Cabral presents BenjiLock, a padlock that combines traditional key access with fingerprint technology, aiming to solve the common problem of forgotten locker combinations or lost keys. He seeks $200,000 for a 10% stake in his company. The lock can be charged for 30 minutes to last a year and has won the CES Innovation Award. Cabral self-funded the project with $87,000 and has interest from Sam's Club for 30,000 units. Sharks discuss potential licensing deals, with Kevin O'Leary offering $200,000 for 15% to help with licensing. Other sharks also express interest, but Cabral ultimately chooses O'Leary's offer, valuing his expertise in licensing.
Key Points:
- BenjiLock combines fingerprint technology with traditional keys, offering a solution for forgotten combinations or lost keys.
- The lock charges for 30 minutes and lasts a year, showcasing its efficiency and convenience.
- Robbie Cabral self-funded the project with $87,000 and has a potential order from Sam's Club for 30,000 units.
- Kevin O'Leary offers $200,000 for 15% to assist with licensing, emphasizing the importance of strategic partnerships.
- Cabral chooses O'Leary's offer, highlighting the value of licensing expertise in expanding product reach.