No one wants to sleep with a bed full of pesky bed bugs. That’s where the BuggyBeds Detector comes in. This sticky bug trap lets you know if you have a bed bug infestation without any inconvenience. Owners Maria Curcio and Veronica Perlongo appeared on Shark Tank and made a deal with five sharks! As of 2024, BuggyBeds has a market cap of $6 million.
Founder
Maria Curcio and Veronica Perlongo both live in Freehold, New Jersey, but the former originally grew up in Brooklyn. Maria is a security analyst, while Veronica is a business executive.
The two had worked together as businesswomen for more than 15 years before appearing on national television. One day, when Curcio’s son moved into an apartment in New York City, he was asked to make sure his house was free of bedbugs.
That got the mother thinking about how to make sure her home was free of bed bugs, which are hard to spot and can flourish without anyone noticing.
Building BuggyBeds
Curcio came up with a simple product idea: a small wooden board with four sticky sections, inspired by mouse traps. Its four sections can be placed in the corners of the bed and their small size means they don’t cause any disturbance.
This non-toxic, pesticide-free tool acts as an early detection system, alerting users whenever pests begin to form in their bedrooms. Maria founded BuggyBeds in 2011 with the help of Perlongo.
The innovative product landed them deals with Home Depot and Burlington Coat Factory. The founders also received a $5 million offer for their trademark and patents, which they turned down. Before entering Tank, they made $150,000 in six months.
Shark Tank Appearance
Maria and Veronica were contacted by producers before they auditioned for the show, but they initially declined. Later, the two changed their minds and joined Shark Tank Season 4, asking for $125,000 for a 7% stake in the business.
The presentation didn’t excite the sharks too much, but that changed when the founders started answering questions and explaining the business. Things took a strange turn when Kevin O’Leary asked the ladies to wait outside for a while. It was rare for the five sharks to plan a deal together in private.
Barbara initially wanted to invest on her own, but her proposal was rejected. Cuban was quiet, which annoyed Robert Herjavec. In the end, all five Sharks agreed to invest $250,000 for a 25% stake. By working together, the Sharks got a better deal.
After Shark Tank
BuggyBeds made history on the show by becoming the first business to strike a deal with all five sharks. After the episode aired, the company received a ton of publicity and saw a significant increase in sales. In an interview with SharkTankBlog.com, the founder revealed that Daymond John’s team had taken the lead.
Before Shark Tank, the product was sold in 60 Home Depot stores. Now, it is sold in 350 stores. It is also sold in ACE, Burlington Coat Factory, CVS Pharmacy, Kroger, Target, Camping World and other major retail chains.
On Amazon, BuggyBeds has 500 reviews with an average of 3.5 stars. Since the show aired, the company has launched more than 10 new products and has become a globally recognized brand. BuggyBeds has annual revenue of $4 million and a valuation of $6 million.
Categories: Shark Tank
Source: svlsf.edu.vn