Veronica Perongo and Maria Curcio are the founders of Buggy Beds, a product that helps with the prevention of bed bugs. After they learned that bed bugs have become a global epidemic, they decided to create a solution that could help to prevent the infestation. In the process, they developed a product that is non-toxic and pesticide-free. Moreover, it is an early detection system that can detect a bed bug infestation before it gets out of hand.
BuggyBeds has already sold in over forty countries and has trademarks in fifty-two countries. It can be shipped worldwide and can be purchased online. It is a highly innovative product that has made the duo one of the biggest success stories of the show. In fact, they are so successful that they even joined season four of Shark Tank.
While Veronica and Maria first refused an invitation to appear on the show, they soon realized that the sharks could be a great resource to take their business to the next level. They decided to join the Shark Tank advisory panel to leverage the advice of their peers. This led to them getting all five Sharks to invest in their product. After appearing on the show, they signed deals with Home Depot and Burlington Coat Factory, and their product is now sold in more than 350 stores nationwide.
After their appearance on the show, the duo also added more products, including mosquito repellant bands and mattress protectors. As of now, BuggyBeds can be found in more than thirty-four countries and has an annual revenue of four million dollars. This is a testament to their brand logic and ability to market their products. It’s important to note that the company has already partnered with other retailers, such as Target, Walmart, Amazon and several other stores.
The duo is seeking a $125,000 investment for a 7% equity share in the business. This would be a major increase over their original offer, but the Sharks aren’t convinced. They want to know why the duo is so high on the value of their company. They also want to know if the data that they are providing them is observational or not.
The duo explains that they have been in the market for about six months. They’ve been selling at sixty Home Depot locations, and have now sold in over twenty-five Burlington Coat Factory locations. The duo is now planning to expand the retail distribution of their product. They’ve also got plans to sell their products at guest houses and hotels. Eventually, they hope to sell the travel pack worldwide.
In the end, the duo accepted the $250,000 offer for a 25% equity share in their business. Kevin offers to help them get the product into Walmart and 7/Eleven stores across the country. Eventually, Daymond agrees to take part in the deal. He’s eager to make a deal with women and believes that they have the potential to grow their business.