Bug Bite Thing entered Shark Tank in Season 11. It is an insect bite/sting suction tool meant to stop itching, swelling, and stinging from bug bites. You can imagine this is a popular product in the summer months. What is the update on Bug Bite Thing in 2022 since their episode aired? Find out now.
Did Bug Bite Thing get a Deal on Shark Tank?
They entered the tank seeking $150,000 for 10% of their company. Sharks really liked the product and all were interested in investing.
Kevin O’Leary: This is the first time a valuation that comes into Shark Tank that’s reasonable.
Barbara Corcoran: I’d like to offer you $200,000 for 10%.
Kevin O’Leary: I want to offer $150,000 for 6% and I want a $1 per unit too.
Barbara Corcoran: That’s like triple dipping.
Mark Cuban: You need help with the whole organizational side of it.
Lori Greiner: First of all, I hate bugs, I hate mosquitos, and I hate things that bite, because they bite me. So, I don’t do this often, but I’m offering you my golden ticket (holds up a little golden square). I’m giving you as much as you asked for.
Barbara Corcoran: She’s not giving you as much as I offered you.
Lori Greiner: I’m giving you exactly what you asked for, so if you want my ticket, it’s right here.
Barbara Corcoran: What is the ticket about?
Lori Greiner: $150,000 for 10%. That’s what the golden tick is about.
Mark Cuban: Barbara, do you want to go in together?
Barbara Corcoran: Yes, (nods head emphatically).
Lori Greiner: (Holding out the ticket) Come on, take it because it might go away. I hear mumbling (points at Mark and Barbara) and when I hear mumbling, it worries me.
Bug Bite Thing: Lori, we’d like to do the deal with you.
That’s right, they did the deal with Lori Greiner for $150,000 for 10% of their company and they received the “golden ticket.”
How is Bug Bite Thing Doing Since Shark Tank?
According to Lori Greiner’s website, Bug Bite Thing is doing really well. In just two years since the taping of their episode, the company has made $21 million in retail sales!
Social media is buzzing about the Bug Bite Thing too with over 35.7K followers on Instagram and 37K on Facebook, testimonials are pouring in on how this product works. Look at this one from a mother of a boy who was attacked by mosquitos. Check out the before and after on him.
Some celebrities have jumped aboard too. Beauty guru and TV personality, Kym Douglas also tried out the Bug Bite Thing and loved it.
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