Maria Curcio and Veronica Perlongo (BuggyBeds Founders)

Maria Curcio and Veronica Perlongo are the entrepreneurial duo behind BuggyBeds, a revolutionary bed bug detection system.

Their journey from inception to becoming household names was significantly boosted by their appearance on “Shark Tank USA.”

Maria Curcio and Veronica Perlongo Early Life and Background

Maria Curcio has always been a driven and innovative individual. Her career spans various industries, including real estate and product development. With a knack for identifying market gaps and creating solutions, Curcio’s entrepreneurial spirit was the driving force behind the inception of BuggyBeds.

Curcio, a security analyst from Freehold Township, New Jersey, came up with the idea for BuggyBeds after her son was asked to sign a lease agreement stating his New York apartment was bedbug-free. Recognizing the need for an effective bedbug detection method, Curcio began experimenting with different attractants and lures.

She developed a simple yet ingenious concept – a plastic tray with four sections of glue that attracts and traps bedbugs. The traps can be placed in various locations, such as under mattresses or car seats, to monitor for the presence of these pests.

Veronica Perlongo, a seasoned professional in marketing and sales, complemented Curcio’s innovative ideas with her strategic business acumen. Perlongo’s expertise in building brand awareness and driving sales was crucial in transforming BuggyBeds from a concept into a viable product.

The Inception of BuggyBeds

BuggyBeds was born out of a pressing need for an effective, early detection system for bed bugs. Bed bugs pose a significant problem for homeowners and businesses alike, often causing distress and financial strain.

Curcio and Perlongo identified this gap in the market and developed BuggyBeds, a patented bed bug detection system designed to monitor and detect bed bugs before an infestation occurs.

The product is a simple, non-toxic monitoring system that can be placed under mattresses, in luggage, or in any area where bed bugs might hide. BuggyBeds provides early detection, allowing users to address the problem promptly, potentially saving thousands of dollars in extermination costs.

BuggyBeds Shark Tank Pitch

In 2012, Curcio and Perlongo took their innovative product to “Shark Tank USA,” seeking $125,000 for a 7% equity stake in their company, valuing BuggyBeds at approximately $1.8 million. Their pitch was compelling, highlighting the widespread issue of bed bugs and the effectiveness of their product in addressing this problem.

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During their presentation, Curcio and Perlongo demonstrated the product’s simplicity and efficacy, showcasing its ease of use and non-toxic properties. The Sharks were intrigued by the product’s potential and the duo’s thorough understanding of the market.

The Investment and Valuation

The BuggyBeds pitch was met with enthusiasm from the Sharks, resulting in an unprecedented five-Shark deal. Mark Cuban, Kevin O’Leary, Daymond John, Barbara Corcoran, and Robert Herjavec all agreed to invest a total of $250,000 for a 25% equity stake, doubling the amount originally sought by Curcio and Perlongo. This deal valued BuggyBeds at $1 million, a testament to the Sharks’ belief in the product’s potential.

Shark Tank Deal and Impact

Securing a deal with five Sharks provided BuggyBeds with not only the capital needed to scale the business but also access to an extensive network of resources and expertise. The investment allowed Curcio and Perlongo to expand production, enhance marketing efforts, and distribute BuggyBeds on a global scale.

The exposure from “Shark Tank USA” significantly boosted the brand’s visibility, leading to increased sales and distribution deals with major retailers. The strategic guidance from the Sharks helped refine their business model and navigate the challenges of scaling a startup.

Their appearance on Shark Tank was a resounding success. Curcio and Perlongo impressed the sharks with their innovative product and strong sales numbers, which had reached $150,000 with a $100,000 profit margin in just six months.

What followed was a historic moment in Shark Tank history – all five sharks made offers to invest in BuggyBeds. Ultimately, Curcio and Perlongo decided to partner with Kevin O’Leary and Daymond John, who offered $50,000 for a 40% stake in the company.

The Shark Tank boost propelled BuggyBeds to new heights. The company was able to rapidly expand its distribution, with products available in over 20,000 stores nationwide, including major retailers like Target, Kroger, and CVS.

Current Business Status

Since their appearance on “Shark Tank USA,” BuggyBeds has continued to grow and expand. The product is now available in over 30 countries and sold through major retailers such as Walmart, Home Depot, and Amazon.

BuggyBeds has also expanded its product line to include various detection products for different environments, such as homes, hotels, dormitories, and luggage.

In 2021, BuggyBeds’ success caught the eye of Rock Mountain Capital, a private equity firm that purchased a majority stake in VCM Products, the parent company of BuggyBeds. Curcio and Perlongo remained significant minority owners and continued to be actively involved in the business.

The investment from Rock Mountain Capital allowed BuggyBeds to further expand its product line and distribution, cementing its position as a leader in the bedbug detection and prevention market.

Maria Curcio and Veronica Perlongo’s Net Worth

As of 2024, the exact net worth of Maria Curcio and Veronica Perlongo is not publicly disclosed. However, their successful venture with BuggyBeds, combined with the substantial Shark Tank deal and subsequent business growth, suggests that they have amassed significant wealth.

Their combined net worth is likely in the millions, given the continued success and global reach of BuggyBeds.

FAQs

How did Maria Curcio and Veronica Perlongo come up with the idea for BuggyBeds?

Maria Curcio and Veronica Perlongo identified a significant market gap in bed bug detection and developed BuggyBeds as a solution to provide early detection and prevent infestations.

What was the initial Shark Tank pitch for BuggyBeds?

Curcio and Perlongo pitched BuggyBeds seeking $125,000 for a 7% equity stake, valuing the company at $1.8 million. They ultimately secured $250,000 for 25% equity from five Sharks.

Which Sharks invested in BuggyBeds?

Mark Cuban, Kevin O’Leary, Daymond John, Barbara Corcoran, and Robert Herjavec invested in BuggyBeds, making it one of the rare deals where all five Sharks participated.

What impact did the Shark Tank deal have on BuggyBeds?

The deal provided BuggyBeds with the necessary capital and resources to scale the business, enhance marketing efforts, and expand distribution globally, significantly boosting sales and brand visibility.

Where can BuggyBeds products be purchased?

BuggyBeds products are available in over 30 countries and can be purchased through major retailers such as Walmart, Home Depot, and Amazon.

What is the current status of BuggyBeds?

BuggyBeds continues to grow and expand, with a global presence and a diverse product line. The company remains a leader in the pest detection industry, driven by ongoing innovation and market expansion.

Maria Curcio and Veronica Perlongo are the founders of BuggyBeds, a company that makes innovative bedbug traps. The two entrepreneurs made a memorable appearance on the popular TV show Shark Tank in 2012, where they secured an unprecedented deal with all five sharks.