Shark Tank Update
Shark Tank Pitch
BuggyBeds Shark Tank Update
Published:
3m
Freehold, NJ
| Name | BuggyBeds |
|---|---|
| Main Presenters | Maria Curcio and Veronica Perlongo |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 9/13/2022 |
| Main Location | Freehold, NJ Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | Deal was made on the show with sharks Mark Cuban, Daymond John, Kevin O'Leary, Robert Herjavec, Barbara Corcoran for $250k for 25% of company, but it fell through after the show. |
BuggyBeds Shark Tank Pitch
Maria Curcio and Veronica Perlongo started a bed bug trap company called BuggyBeds. BuggyBeds has been in business for six months and has $150k in revenue with a $100k profit.
Buggy beds were sold through Home Depot's website and are launching in stores soon. Maria and Veronica have brought manufacturing under their own facility and seek the sharks' expertise to get into more retail stores.
Kevin anticipates that all sharks will get in a bidding war over Buggy Beds and has Maria and Veronica step out while Kevin colludes with the other sharks. The other sharks are slow to buy into the idea.
Barbara makes an individual shot clock deal right out of Mark Cuban's playbook, ending her going out. Eventually, all sharks join Kevin's offer, and we have the first five-shark deal in Shark Tank History.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $125k for 70% of company | |
| Sharks | Offered | Kevin O'Leary, Daymond John | $250k for 25% of company |
| Sharks | Offered | Barbara Corcoran | $150k for 15% of company |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Deal Never Closed | Mark Cuban, Daymond John, Kevin O'Leary, Robert Herjavec, Barbara Corcoran | $250k for 25% of company |
Mark Cuban
Deal Never Closed
Daymond John
Deal Never Closed
Kevin O'Leary
Deal Never Closed
Barbara Corcoran
Deal Never Closed
Robert Herjavec
Deal Never Closed
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| 4 | 20 |
BuggyBeds After Shark Tank
Shark Tank Blog https://www.sharktankblog.com/business/buggybeds did a couple of interviews with Maria Curcio following Buggy Beds' Shark Tank appearance. Maria's son was asked to sign an agreement for his new apartment lease to agree that there were no bed bugs and had no way of checking for himself. Maria was in a bad car accident and came up with Buggy Beds as the solution during her four-year recovery.Link Preview
Shark Tank Blog
Buggy Beds was first approached by Shark Tank with an invite to go on the show. The pitch took an hour and Maria even took off her high heels and negotiated part of the pitch shoeless. The deal looked as though it would go through, and Daymond's team provided the most significant help, but all the sharks were great.
Buggy Beds was certified as a women-owned business, so they could receive government subsidies that men weren't eligible for. Beddy Bugs already had investors, so adding four male Sharks and one female caused issues, and the deal ultimately fell through.
In season 4, episode 20, we got an update that BuggyBeds brought their lifetime sales from $150k before Shark Tank to $1.2 million two months after. They are rolling out into 600 The Home Depot stores across the country and are in other retailers as well totaling around 1500 retail stores. They now have a manufacturing facility where they have hired over 50 (15? 50 sounds expensive) employees. They are on track for $7 to $10 million in revenue the year of airing on Shark Tank.
Beddy Bugs has patents in over 45 countries. Beddy Bugs eventually expanded the product line to other bug traps including flea, tic, lice, and mosquito. In 2021 Rock Mountain Capital https://rockmountaincapital.com/rock-mountain-capital-buys-majority-stake-in-vcm-products-owner-of-buggybeds-brand purchased a majority stake in Buggy Beds, and Maria and Veronica maintained a stake in the company.Link Preview
Rock Mountain Capital
Buggy Beds' website is buggybeds.com https://buggybeds.com.Link Preview
buggybeds.com
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