Garage Door Lock

Name: Garage Door Lock
Availability: InStock

Deal

Home Security Solutions

Season 5 · Ep 21 Home & LifestyleAired March 21, 2014

Garage Door Lock is a home security solutions that got its big break on Shark Tank in Season 5, and convinced Daymond John to invest.

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From the show

The Shark Tank pitch

$275K
Asked for: 30%
Offered equity: $917K
Sought valuation: $275K
Deal amount: 35%
Deal equity: $786K
Deal valuation

The team stepped onto the carpet in Season 5, Episode 21 in the episode that aired March 21, 2014, bringing their Encinitas, CA business with them. Garage Door Lock, the home security solutions, pitched in the Home & Lifestyle category, one of 260 home & lifestyle businesses to brave the Tank across all 17 seasons.

The ask was $275,000 for 30% of the company, an implied valuation of $917K.

Daymond John made the deal at $275,000 for 35% equity. That priced the company at $786K, a haircut from the $917K the founders walked in asking for, which is how negotiations in the Tank usually go.

Season 5 saw 116 pitches, and 60 of them closed a deal on air. In the Home & Lifestyle category overall, roughly 68% of pitches have landed a shark across the show's history.

Daymond John$275K

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Frequently asked questions

Where can I buy Garage Door Lock?

Check current price and availability on Amazon. Note that some Shark Tank products are discontinued or sold under a new name. The company's official website is another option.

Did Garage Door Lock get a deal on Shark Tank?

Yes. Garage Door Lock closed a deal for $275,000 in exchange for 35% equity, with Daymond John.

Which shark invested in Garage Door Lock?

Daymond John invested in Garage Door Lock ($275,000 total as aired).

What season of Shark Tank was Garage Door Lock on?

Garage Door Lock appeared in Season 5, Episode 21, which aired March 21, 2014.

How much was Garage Door Lock asking for on Shark Tank?

The founders asked for $275,000 for 30% of the company, a $917K valuation.

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