Season 4 of Shark Tank premiered Friday with an exciting show. It all came down to the end with Buggy Beds, founded by Maria Curcio and Veronica Perlongo. Maria and Veronica asked the Sharks for a $125,000 investment in exchange for 7% of the company.
What could be worse than finding out a hotel room (or airplane, or dorm room, or anywhere) is infested with bed bugs? Buggy Beds is an early detection system that attracts and traps bed bugs. The women have a trademark on the company’s name and logo, as well as a utility patent in multiple countries. Buggy Beds cost $1.35 to make, and the company’s current sales are over $150,000.
For the first time in Shark Tank history, the Sharks all joined together for a deal. Spearheaded by Kevin, the offer on the table was $250,000 for 25%. Barbara made her own offer of $150,000 for 15% but after a little back and forth, she finally decided to join Mark, Kevin, Daymond and Robert on the group offer, which Buggy Beds accepted.
Fun Facts about Season 4:
- The Sharks invest over $10 Million in Season 4
- 30,000 people applied to appear on Season 4 of the show
- Both Barbara and Lori are full-time Sharks and will be trading off episode to episode
- Lori’s first appearance on Season 4 will be on Oct. 5
- Shark Tank is up for an Emmy award this weekend
Shark Tank can be a great opportunity for inventors and entrepreneurs that need investment capital and a solid partnership to take their product to the next level. Our professionals at New Product Consulting have consulted with and guided many of our clients through the Shark Tank submission process. One of our clients is currently scheduled to appear on next seasons show. If you or anyone you know needs help submitting their idea to Shark Tank, please contact us at New Product Consulting.