When BuggyBeds appeared on Shark Tank way back in 2012, the company was in business for six months and had already generated $150,000 in sales.
As per the recent update from Shark Tank, BuggyBeds has a net worth of $15 million. All five sharks invested in the company, putting in $250k for 25% equity.
Kevin O’Leary helped the company expand into 750 Walmart locations.
Daymond John also played his part in expanding the BuggyBeds into 3,000+ stores of 7-Eleven across the world.
As of today, the company generates $390k in monthly income, and its profit margin is approximately 65%. The deal has brought huge profits to all the Sharks.
BuggyBeds Net Worth
- Net Worth: $15 Million
- Annual Revenue: $4.2 Million
- Profits: $2.9 Million
- Lifetime Sales: $70 Million
- Sold In: 4,800 stores
Shark Tank Pitch
BuggyBeds founders Maria and Veronica were initially approached by the producers of Shark Tank but declined to audition.
However, they eventually had a change of heart and decided to participate in season four of Shark Tank, seeking a $125,000 investment in exchange for a 7% ownership stake in their business.
Barbara initially expressed interest in a solo investment, but her proposal was turned down.
Robert Herjavec was visibly bothered by Mark Cuban’s silence during the negotiation.
Ultimately, all five sharks came together and decided to collectively invest $250,000 for a 25% stake. Their collaboration resulted in a significantly improved deal.
Founders
Maria Curcio and Veronica Perlongo, residents of Freehold, New Jersey, share their roots in New York, with Maria originally hailing from Brooklyn.
Maria pursued a career as a security analyst, while Veronica held a role as a business executive.
These two accomplished female entrepreneurs had been business partners for over 15 years prior to their television debut.
On one occasion, when Curcio’s son relocated to a New York City apartment, he was tasked with ensuring it was free of bed bugs. That’s when the idea for this business ignited.