No one wants nasty bed bugs invading their peace while sleeping. This is where the BuggyBeds detector is helpful. It is a glue trap that informs you about bed bugs infestation. It is an easy-to-use tool designed by founders Veronica Perlongo and Marcia Curcio.
The founder duo appeared on season four of Shark Tank. They are one of the few brands that secured a deal from all five sharks. This made many people ask “what is the net worth of the company?” To know more, you should read the lines below.
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Shark Tank Appearance
The founder duo was invited by the producer of the show, which they declined. However, they changed their mind later and came on the show with an offer of a 7% stake for $125,000.
In the beginning, the sharks didn’t seem to be very impressed. But things changed once they started explaining the product. After a lot of discussion between the five sharks, they all agreed to invest $250,000 for 25% equity.
Maria and Veronica agreed to the deal at once and left the show with a happy face.
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After Shark Tank Pitch
BuggyBeds created history by grabbing a deal from all five sharks. The Shark Tank episode attracted massive publicity for the company. This skyrocketed their sales overnight. According to SharkTankBlog.com, the company is led by Daymond John’s team.
Before Shark Tank, BuggyBeds products were available at multiple Home Depot stores. At present, it is available at over 350 different locations. Other than Home Depot, one can purchase the product at Kroger, Burlington Coat Factory, ACE, Target, CVS Pharmacy, Camping World, and others.
The product has received a 3.5-star rating out of 5 on Amazon. Ever since, the Shark Tank episode aired, BuggyBeds have been enjoying large sales. As per sources, the company is generating annual revenue of $4 million. The current net worth of the company is around $6 million.
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About the Founders
BuggyBeds is created by Veronica Perlongo and Maria Curcio. Both the founders are from Freehold, New Jersey. Before founding the company, Veronica worked as a business executive, while Maria was a security analyst.
The two have been business partners for over 15 years. When Curcio’s son shifted to an apartment in New York, he wanted to confirm if the place is free of bed bugs.
This got Curcio thinking as there was no device to verify the presence of bed bugs. This led her to design a BuggyBeds, with four sticky parts. The four tiny sections can be placed in four corners of the bed.
It is a non-toxic tool that alerts the user of bug infestation in the bedroom. She launched the company in 2011, with the help of Perlongo. After some time, they struck a deal with Burlington Coat Factory and Home Depot.
The founders were offered $5 million for their patents and trademarks, but they turned down the offer. Before appearing on Shark Tank, BuggyBeds was already a successful business.
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FAQs
1. How much is Bed Buggy worth?
Bed Buggy, which appeared on Shark Tank, was already a profitable business before coming on the show. However, people are often inquisitive about businesses after their appearance on Shark Tank. Although not confirmed yet, it is believed that Bed Buggy has an estimated net worth of around $4 million.
2. Is Bed Buggy still in business?
Bed Buggy is currently still in business. However, recent reports suggest that things aren’t as flourishing as it was before. Following their Shark Tank episode, the brand got a boost in sales, however, things plummeted soon. Current reports suggest that the founders have sold a major stake in the company to Rock Mountain.
3. Did Bed Buggy launch new products?
The product catalog before Shark Tank was quite limited. However, following appearing on the show, Bed Buggy managed to launch a few other products aligned with their interests. Some of the important products include flea and tick traps, repellent bands, lie, repellent bands, etc.
4. How is Bed Buggy doing after Shark Tank?
Following the episode on Shark Tank, Bed Buggy was doing pretty well and was available across multiple leading stores like Amazon, Walmart, CV Pharmacy, etc. However, their sales have gone down significantly.
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