BuggyBeds before Shark Tank:
BuggyBeds is the invention of two female entrepreneurs – Veronica Perlongo and her partner of fifteen years, Maria Curcio. BuggyBeds was created when Veronica and Maria discovered what an epidemic bed bugs were becoming in homes all across the United States of America. Once the bed bugs get into people’s home it is not long before they become fully infested and incidences are on the rise and rapidly. BuggyBeds however, is a product that can solve what is becoming an international epidemic.
BuggyBeds is a bed bug detection system that works in the background thus not interrupting your everyday life. However, if those bed bugs get close to the detection system, the product is designed to alert you before a full infestation of the troublesome creatures occurs. The BuggyBeds monitor comes ready for use upon purchase and simply slides beneath the mattress at the four corners of the bed. A simple check by regularly looking at the BuggyBeds monitor will ensure you keep those pesky bed bugs at bay.
BuggyBeds is unique in that Veronica and Maria did not envisage themselves taking their product into the shark tank until they were approached by the producers of the show. At first they refused the offer to appear on the show but upon reflection realized just how much the sharks could bring to what was already turning out to be a successful product. The duo knew that if they got one of the sharks on board, with the right expertise and business relationships, BuggyBeds could potentially take the world by storm.
BuggyBeds in the Shark Tank:
Veronica and Maria enter the shark tank and introduce themselves and their product to the sharks. Veronica states that the duo are looking for an investment of $125,000 in return for a seven per cent equity in their company, BuggyBeds. Maria goes on to explain that bed bugs are crawling EVERYWHERE and the number of bed bug infestations seen in households has increased by a massive five hundred per cent in the last few years. Maria continues with her harrowing facts revealing that single bed could have thousands of bed bugs on it once infested – a horrible thought to swallow. Further to that, it could be damaging for your health causing red, swollen and itchy lesions. Veronica then informs the sharks that one female bed bug can lay as many as five hundred eggs so you can see how easy it is for an infestation to occur. It was all for these reasons that Veronica and Maria came up with BuggyBeds. The product is a bed bug glue system that is designed to attract the bed bugs before trapping them and killing them. That way if bed bugs start to appear you can take action before it is too late.
Barbara asks to have a closer look at the product and Veronica hands out products from the BuggyBeds travel pack – a portable pack you can take with you while staying in hotels or guest houses to ensure your piece of mind. Veronica informs the sharks that the product was launched about six months ago. Maria states that the duo are ultimately looking for help in getting retail distribution so their product can be sold on a nationwide and hopefully a global scale someday.
Kevin asks if this product succeeds in eradicating all of the bed bugs to which Maria replies that the product is an early detection device. Robert is interested to know if the pair have ever used the portable travel pack in hotel rooms and discovered bed bugs to which they answer yes. The sharks are more than shocked that this is such an epidemic. Maria maintains that the levels of infestation are so bad because of the simple fact that there is no effective early detection system. Until now that is. Barbara is interested to know if the data Maria and Veronica are providing is proven or if it just observational on their behalf. Maria goes on to inform Barbara about the specialists and dermatologists the duo has worked with in order to run the best possible tests on this device. Furthermore, another unique and appealing feature of BuggyBeds is that the product is not toxic in any way and is completely pesticide free.
Kevin asks about the retail price for the BuggyBeds products. Veronica explains that the two pack products cost $1.35 to manufacture and retail between $6.99 and $8.99. Daymond then asks about sales to which Veronica replies that current sales are $150,000. She also adds that Home Depot have opted to launch the product in sixty of their stores across the United States. The sharks are becoming more and more impressed with the product and the two savvy business-women. Maria takes this opportunity to add that out of the $150,000 in sales they have made $100,000 in profit. Daymond asks why the duo are valuing the company at approximately $1.75 million. Maria goes on to explain that before BuggyBeds launched, she was offered a whopping $5 million for the trademarks and the patent of the company. This piece of information has the sharks shocked for not the first time during this pitch. They cannot quite get their heads around the fact that Maria and Veronica turned down the $5 million deal. When Kevin tells Maria that she is crazy she retorts that in business she is ‘Mrs Wonderful’ making the sharks smile.
Daymond aptly states that he is itching to do a deal with the ladies. In a rare occurrence, Kevin asks if the two ladies would step outside for a moment while the sharks have a discussion among themselves. Once Maria and Veronica are outside the shark tank, Kevin acknowledges that they all want part of the deal. The men agree that all five sharks would be of great value to BuggyBeds but Barbara coyly says she would like a bigger part of the investment for herself. Kevin calls the ladies back in to the shark tank.
Kevin gets straight to it and says twenty-five per cent of the company would really get him excited about working with Maria, Veronica and BuggyBeds. However, for that twenty-five per cent equity share, Kevin would be willing to part with $250,000. However, he goes on to state that he respects his fellow sharks immensely and does not want to compete with them on a product that they seemingly all want. He openly invites any other shark who would like to join him in the investment to do so. Daymond says he is in. Veronica claims the equity share the sharks are looking for is a little higher than what they were originally willing to give away. The sharks decide it is time to show their worth to the ladies with Kevin offering to help getting the product into Walmart stores and Daymond getting BuggyBeds into 7/eleven stores all over the world.
In a twist of events Barbara says she is making an offer of her own but if the ladies want to accept they must do so immediately. She offers $150,000 in return for a fifteen per cent equity share in BuggyBeds. Barbara goes on to very much take what Daymond describes as the ‘Girl Power’ route in an attempt to persuade the ladies to accept her deal. The ladies remain silent and Barbara declares herself out.
After remaining almost silent up until this point, Mark suggests that the best scenario for the sharks and for Veronica and Maria is if all sharks partner to do a deal including Barbara if she would like to declare herself back in. The others commend him for being a gentleman to which Barbara replies that she will leave the boys to themselves. Robert completely agrees with Mark and thinks each of the sharks can really add something to make BuggyBeds a successful business. With Kevin, Daymond, Mark and Robert now part of the offer, they try and persuade Barbara to come back in and be a part of the deal. She ponders this for a minute before admitting to the ladies that she doesn’t even like her fellow sharks but to make life easier for Veronica and Maria she will come back in and partner with the four other sharks. This marks an incredible event in the shark tank that has never before happened. All five sharks making an offer together for a product. Veronica asks if herself and Maria can take a minute to which the sharks reply not to think about it too much. After a moments silence, they agree to the deal. Shark tank history has been made! Veronica and Maria leave the shark tank overwhelmed and delighted to have all five sharks on board with BuggyBeds.
BuggyBeds Now in 2018 – Update From After Shark Tank
Appearing on shark tank and striking a deal with all five sharks has done wonders for BuggyBeds as a brand. Before the show aired, BuggyBeds was available in sixty Home Depot stores across the United States. After the success of shark tank, the product is now in three hundred and fifty Home Depot stores. Further to that, BuggyBeds was in approximately seventy-five Burlington Coat Factory stores before the shark tank episode aired. Now, the product is in every Burlington Coat Factory store.
BuggyBeds is now also shipped to over forty countries due to a success distributor arrangement. BuggyBeds is available to buy online at Amazon.com with a discount automatically applied by clicking here. What with Shark Tank history being made, there is no doubt that BuggyBeds is one of the most successful products to ever strike a deal in the shark tank.