Whatever Happened To BuggyBeds Bed Bug Traps After Shark Tank Season 4?
Encountering bed bugs can be a major source of anxiety for people who frequently travel or live in more densely-populated areas. Bedbugs are often difficult to detect before they turn into a full-blown infestation and even more difficult to get rid of once you know they're there. Partners Maria Curcio and Veronica Periongo created a product called BuggyBeds to help solve this issue.
The original BuggyBeds product is a glue trap designed to sit under your mattress. The traps mimic the scent of human hormones, helping to attract bedbugs and kill them before an infestation is able to start. With these traps, you also have the ability to routinely check and see if you've accidentally brought any bedbugs into your home, helping to give customers peace of mind, even when staying in a hotel or in an unfamiliar location. While Curcio and Periongo's idea and pitch are certainly memorable on their own, the response from the Sharks is what cemented it as a major piece of "Shark Tank" history.
BuggyBeds on Shark Tank
On season 4, episode 1 of "Shark Tank," Maria Curcio and Veronica Periongo entered the tank with a goal: get one of the Sharks to invest $125,000 in exchange for 7% equity in BuggyBeds. This initial offer is a bit steep and values BuggyBeds at over $1.75 million, but after running through the pair's profit margins and the deals that they had already made, the high dollar value made sense. So much sense, in fact, that all five investors showed interest.
After asking the pair to leave the room, the Sharks came up with a deal of their own: 25% for $250,000. Kevin O'Leary led the charge on this offer but left the decision of joining to the other stars of "Shark Tank." Barbara Corcoran presented a different offer of $150,000 for 15% but rescinded it when the women still attempted to negotiate. Eventually, each of the Sharks joined in with O'Leary, and the pair accepted the 25% for $250,000 deal with all five Sharks participating.
BuggyBeds after Shark Tank
During their "Shark Tank" pitch, the two founders of BuggyBeds admitted that their largest problem was expanding to sell in different retail locations. After the show, however, it's apparent that they found plenty of success with the help of all five Sharks. On the BuggyBeds website, it says that the company's products are sold in 20 different retail chains globally, ranging from big box destinations like Target to more specialized retailers like Camping World.
In the years following, the brand also explored other pest-deterring products with a similar line of thought, like mosquito-repellant wristbands and bed bug-repellant luggage liners. By expanding their selection, they also likely expanded their customer base, helping to keep the momentum going after they gained publicity from their unusually positive response from the investors on "Shark Tank." Appearing on the show certainly allowed them to gain more customers, but involvement from each of the Sharks gave them more retail opportunities to guarantee long-term success.
Is BuggyBeds still in business?
Currently, BuggyBeds is not only in business but thriving. Since their episode of "Shark Tank" aired in 2012, the couple has gained plenty of success and momentum, bumping up their sales from the $150,000 they mentioned in the pitch to $1.2 million in 2016. BuggyBeds is still selling and developing pest control products for sale in plenty of different in-store and online locations.
With that being said, however, the company has recently scaled back its presence on social media, last posting in 2020. About a year later, Rock Mountain Capital purchased a majority share of BuggyBeds for an undisclosed amount, meaning that Maria Curcio and Veronica Periongo are no longer the primary owners. According to the press release, however, they are still minority owners that actively participate in the business. After this deal, it's likely that the Sharks no longer retain their shares of the business, though they helped it grow for nearly a decade.
What's next for BuggyBeds?
Because Maria Curcio and Veronica Periongo are no longer majority owners of VCM Products, the company behind BuggyBed, they're likely playing more of a supportive role in the workings of the business now. With that being said, however, the new majority shareholders show no sign of slowing down development or decreasing the brand's presence in stores. Instead, it appears that they're planning to do the exact opposite.
"We have been very impressed with the founders of VCM and the BuggyBeds business they have built over the past 10 years," founder and managing partner of Rock Mountain Capital David Stonehill said in a press release. "Their focus on building on what they call 'peace of mind' products has filled a hole in a category that has historically seen little product innovation. Now our plans include investing in growth, supporting our retail partners, expanding the product line, and increasing the distribution and availability of our products."