‘Shark Tank’ founders solve pesky bed bug issue with simple idea — and land epic 5-shark deal you’ll want
It's a rare sight to witness the 'Shark Tank' investors fighting for a deal on the ABC business program. During an episode of 'Shark Tank' Season 4, Maria Curcio and Veronica Purlongo presented their product, Buggy Beds, a glue trap designed to sit under your mattress. In the episode, Curcio and Purlongo were seeking $125,000 in exchange for 7% of their company. The founders of Beddy Bugs impressed all the Sharks, including Mark Cuban, Kevin O'Leary, Daymond John, Robert Herjavec, and Barbara Corcoran, with their pitch. In the end, all five investors faced off against each other to seal the deal with the duo.
During their pitch, Curcio said, "Bed bugs are crawling everywhere. These simple little fabric hitchhikers have been causing panic and chaos across the world. Bed bug infestations have increased by over 500% in the last few years alone, causing a global epidemic. A simple twin bed like this can have thousands to hundreds of thousands of bed bugs, feeding on you, causing you red, swollen, itchy lumps, and one female can lay up to 500 eggs."
Shortly afterward, Purlongo chimed in, "You could have bed bugs in your home and not even know it, and that's why we created Buggy Beds. Buggy Beds is a bed bug glue trap that is an early detection system. It's designed to attract and trap bed bugs dead. Simply slide and hide Buggy Beds between your box spring mattress under your couch cushions, and Buggy Beds will provide peace of mind for everyone. Sleep tight and don't let the bed bugs bite."
When asked about the sales, Purlongo shared, "Our sales are $150,000. We started with Home Depot's website, and they just picked us up for 60 of their stores that we just shipped out this week. We also just got a purchase order from 78 Burlington Coat factories as well." Soon after, Curcio interrupted Purlongo mid-sentence and said, "Can I say one other thing on the $150,000 in sales? We have a $100,000 profit."
All five Sharks showed interest in Buggy Beds, and at one point, O'Leary asked the two entrepreneurs to leave the room so that the judges could discuss as a group. Then, John proposed an idea, bringing in all five Sharks by offering $250,000 for 25% equity. O'Leary was happy with John's suggestion, but Corcoran wasn't, as she wanted a larger portion of equity. When the ladies returned, O'Leary introduced an offer of $250,000 for 25% and invited other sharks to join in. On the other hand, Corcoan made a separate offer of $150,000 in exchange for 15% equity.
Following that, Cuban quipped, "I think the best deal is for the four of us, and actually if Barbara wants to come back into five of us," to which Corcoran replied, "No, I'll leave the boys club up to the boys." After some time, Corcoran reconsidered and agreed to a five-Shark deal by saying, "I'm gonna tell you something, I don't even like these guys, but just to make your life pleasant, I'm going to jump back in the deal." In the end, Curcio and Purlongo walked away with a five-Shark deal.
