Are you tired of bed bugs invading your home? Well, Buggy Beds is here to save the day! This innovative product was pitched on Shark Tank with the promise of detecting bed bugs before they become a major problem.
With Buggy Beds, you can sleep soundly knowing that your home is bug-free. But what happened to Buggy Beds after their appearance on the show? Let’s find out!
BuggyBeds is a product that aims at solving the huge problem of bed bugs. The problem of bed bug infestation has resulted in a global epidemic. BuggyBeds provides a solution to detect, attract and kill those bed bugs. Not being aware of bed bugs to take action can be extremely problematic because they reproduce very quickly. So, BuggyBeds comes to the rescue.
The product is a non-toxic, pesticide-free car that uses glue to trap bed bugs and kill them in time. $6.99 to $8.99 is the wholesale price range of BuggyBeds. There is a standard pack for houses and a traveling pack to use in hotels. The glue trap can be kept under the mattress of a bed, a couch, or a crib, and bed bugs will be eradicated from that place.
Buggy Beds at a Glance:-
| Idea | Glue traps that kill bed bugs. |
| Founders | Maria Curcio & Veronica Periongo |
| Asked For | $125,000 for 7% equity |
| Accepted Deal | $250,000 for 25% equity |
| Sharks | Mark Cuban, Lori Greiner, Barbara Corcoran, Robert Herjavec and Daymond John |
| Business status | In Business |
| Episode No. | Season 4, Episode 1 |
| Website | BuggyBeds |
| Buy on Amazon | Buy Now! |
Index:
Who are the founders of Buggy Beds?
Veronica Perongo and Maria Curcio are the founders of BuggyBeds. Before appearing on Shark Tank, they were already established months in the market for six months and had also signed deals with Home Depot and Burlington Coat Factory. They were offered $5 million for their trademark and patent but they turned the offer down.
They have been granted patents in 34 countries, trademarks in 42 and their utility patent is to be issued soon in 50 countries around the world. They manufacture one unit for just $1.35 and want to decrease it further. Therefore, they planned to shift to in-house production. They had test runs in 29 runs and it took only ten days for the products to be sold out.
Did Buggy Beds get a deal on the Shark Tank?
Veronica and Maria went to the shark tank looking for the best advice and sharks. Buggy Beds pitched for an investment of $125,000 for 7% equity in them. After that, they demonstrated their brand and the whole logic behind it. Sharks discussed their past sales and further forecasts.
After a huge discussion about the business and its valuation, Kevin O’Leary asked the ladies to go behind the doors for a minute as he wanted to discuss something with fellow sharks. Kevin called the bank on the floor and put an offer of $250,000 for an exchange of 25 % equity. Kevin asked all the other sharks to join him. Daymond John came in.
Barbara Corcoran gave an individual offer of $150,000 for 15% equity. Mark Cuban suggests coming together for Kevin’s offer. Robert tries to convince Barbara and all five sharks to join with an offer of $250,000 in exchange for 25% equity. Veronica and Marica are overwhelmed by the moment and accept the deal.
What happened to Buggy Beds after the Shark Tank show?
After the shark tank show, BuggyBeds‘ founder revealed the reason behind her appearance on the shark tank. Maria shared that she needed the investment to improve retail distribution. After the show, Buggy Beds made their way through many retail shops. Buggy Beds got his hands on up to 350 stores after the show aired.
During the pitch, Buggy Beds came up with a valuation of $1,785,714.28. By the end of the pitch, all the sharks came together with a valuation offer of $1,000,000. After the show, Buggy Beds launched various new products like flea and tick traps, mosquito repellent bands, and lie repellent bands.
After the show, there were significant increases in sales on all the platforms, like their website, Amazon, CV pharmacy, Camping, World, and Home Depot. As of the 2017 report, Founders sold the majority of had stake to Rock Mountain Capital and sharks were also out with their dealt shares. Maria and Veronica are still the minority owners of the business and they are contributing their roles actively.
Buggy Beds has expanded its product line to include travel-sized bed bug detectors and bed bug glue traps. They have also increased their distribution to include major retailers like Walmart, Bed Bath & Beyond, and Amazon.
Competitors of BuggyBeds are:-
- Healthy Covers
- Terro
- Cheap Bedding Set Store
- Quality Bedding Shop.com
- Twin XL
- Hicon Pest Control
- Federal Bug Investigators Inc.
What is the net worth of Buggy Beds?
The valuation for the BuggyBeds was $ 1,785,714.28, which was later down to $1,000,000. The estimated net worth of Buggy Beds is $4 million. As of the 2017 report, Founders sold the majority of had stake to Rock Mountain Capital and sharks were also out with their dealt shares. Maria and Veronica are still the minority owners of the business and they are contributing their roles actively.
Is Buggy Bed still in business?
BuggyBeds are still in operation but the case is not the same anymore. After the show, there was a great addition to the product line. As of 2017, the founders have sold the majority of their stake to Rock Mountain and they are into business as minor owners. Bizz Bucket wishes great success to Buggy Beds.
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FAQs:
What is Buggy Beds?
BuggyBeds is a product that aims at solving the huge problem of bed bugs. The problem of bed bug infestation has resulted in a global epidemic. BuggyBeds provides a solution to detect, attract and kill those bed bugs.
Who founded Buggy Beds?
Veronica Perongo and Maria Curcio are the founders of BuggyBeds. Before appearing on Shark Tank, they were already established months in the market for six months and had also signed deals with Home Depot and Burlington Coat Factory.