Bug Bite Thing Shark Tank Update: A Successful Journey!
Bug Bite Thing founders appeared on the Shark Tank show to expand their business. The product was harmless, chemical-free, with no side effects, and very effective. They were doing quite well from the beginning. So, people are curious about the company. So, what is the Bug Bite Thing Shark Tank update?
Bug Bite Thing came on the Shark Tank show with a deal of $150k with a 10% stake. However, the deal was finalized with Lori with a golden ticket. The annual revenue of the company was $15 million in 2021. By 2021, their sale was $21 million. In 2022, their annual sale was $25 million.
The company has achieved great success after the episode telecast. To know more about their journey, stay with this article!
Bug Bite Thing Shark Tank Profile
Kelley Higney and her mother, Ellen McAlister, came to the show to get a deal for their company. Have a look at the quick company profile in the following table.
| Company name | Bug Bite Thing |
| Product | Bug saliva removing suction tool |
| Originator | Kelley Higney and her mother, Ellen McAlister |
| Originated | In 2017 |
| Demanded For | The founders asked for $150000 for a 10% stake |
| Final Agreement | The deal was finalized at $150,000 for a 10% stake with a Golden Ticket. |
| Shark Involved | Lori Greiner |
| Lifetime Worth (Sales) | Till 2022, their lifetime sale is $29 million. |
| Air Date | 20 October 2019 |
| Episode (Shark Tank USA) | Shark Tank Season 11, Episode 4 |
| Watch On | Amazon Prime |
| Business Status | In business |
| Headquarters | Port Saint Lucie, Florida, United States |
| Website | Visit Website |
| Go To Amazon | Buy Now |
How Was the Bug Bite Thing on the Shark Tank Episode?
People were curious about the Bug Bite Thing Shark Tank update once the episode was telecasted. The founders were already doing well. But they arrived on the show to introduce the product to the mass people and enlarge their business.
The founders aimed to convince the sharks to finance their product. The founders represent their product in a very dramatic way to the sharks.
The suction tool is very effective against bug saliva. Also, customers get relief within a few hours after using this product. Their product works very fast without any side effects.
They impressed all the sharks with their presentation on the Bug Bite Thing Shark Tank episode. They showed how easy it is to use their product. Also, they presented a demo picture of before and after using the product.
The founders demanded $150k for a 10% stake from the sharks. All of the sharks counter-offer them. At first, Rohan Oza accepted the same offer and approached to finalize the deal.
Barbara Corcoran offered to give $200,000 for a 10% stake. Kelvin O’Leary offered $150k for a 6% stake in exchange for $1 for each sale.
Finally, Lori Greiner changed the situation by offering a golden ticket. Rohan and Kelvin wanted to offer a deal together. Mark Cuban and Barbara also teamed up. However, the deal ended with Lori with her golden ticket.
Each shark wanted the deal, but Lori’s golden ticket helped to finalize it smoothly.
What Happened To the Bug Bite Thing After Shark Tank?
What happened to Bug Bite Thing after Shark Tank was a frequently inquired topic after the telecast. People could purchase only from three countries before the episode telecasts.
Their product can be found in 7000 stores. They planned to sell in more countries, including pharmacies. The founders said they were the best sellers in insect bite relief on Amazon. After the show aired, they were known to all the people, especially to the mothers.
After the deal with Lori, the company has progressed a lot. People can purchase the product in Twenty-five countries, and it has spread to over 25k retailers. It is available in many pharmacies. Anyone can buy this product on their webpage as well as on different sites. Bug Bite Thing update is positive in both online and offline now.
It is available in different packages with different colors. For one product, people have to pay $9.59, and for a package of six, it will cost $48.95.
Bug Bite Thing Net Worth
The founders came to Shark Tank with a valuation of $1.5 million. At the end of 2019, they were hoping to do over $2 million. Bug Bite Thing after Shark Tank got huge popularity.
However, the company progressed every year, and in 2021, its target was to cross the revenue of over $15000000.
| Year | Revenue |
|---|---|
| Before 2019 | $1.5 million |
| 2019 | $2 million |
| 2021 | $15 million |
Bug Bite Thing Sales Data
The company was able to sell five hundred thousand dollars in 2018. They sold eight hundred thousand in only five months in 2019. Bug Bite Thing today has attained great success due to the Shark Tank show. They were able to sell $21 million within 2 years after the show. Their annual sales in 2022 are about $25 million.
| Year | Annual Sale |
|---|---|
| 2018 | $500,000 |
| First 5 months of 2019 | $800,000 |
| 2020-2021 | $21 million |
Is Bug Bite Thing Profitable Now?
Yes, the company is profitable now. The company has also been honored by the Stevie Award. While looking at their annual revenue and sales, it always increases. The two founders with Shark Lori have done a great job. This product is still in the best-seller position on Amazon.
The company is taking steps toward growth. The effectiveness of the product makes the business successful. Also, with guidance and a great marketing strategy, the product has reached 25 countries on six continents.
Conclusion
The bug poison sucker was sold in three countries and was available on Amazon from the very beginning. The review from the customers was positive. Their product was so effective that it could heal the bite area within one hour. So, their business was going well.
However, the founders came to Shark Tank to get financial and marketing support from the sharks. All the sharks wanted to get the deal, but they went with Lori. After the deal, the company profited a lot, and the product has reached many countries.
