Bug Bite Thing Shark Tank Net Worth 2023
Bug Bite Thing is a chemical-free, eco-friendly suction device that effectively alleviates stinging, itching, and swelling caused by insect bites and stings.
The company appeared on Shark Tank in October 2019 with the hope of securing $150,000 in exchange for 10% equity, giving a valuation of $1.5 million.
Lori Greiner offered the Bug Bite Thing team exactly what they were looking for and invested $150,000 for 10% equity.
Since appearing on Shark Tank, the business has boomed and expanded to 25,000 retail locations. In 2021, Bug Bite Thing recorded around $15 million in revenue.
As of 2022, Bug Bite Thing’s founders Kelley Higney and Ellen McAlister have a net worth of $16.2 million USD. The company is aiming to grow its business to $30 million by next year with Lori Greiner’s partnership.
What is Bug Bite Thing? Who Founded Bug Bite Thing?
Bug Bite Thing is a device designed by Ellen McAlister and Kelley Higney that uses suction to collect insect saliva or venom from beneath the skin, providing relief from itching, stinging, and swelling associated with bug bites and stings.
Unlike topical lotions and ointments that only mask the issue, Bug Bite Thing removes the irritant, resulting in a resolution of the problem.
During the spring and summer months, mosquitoes are abundant, and their bites can cause uncomfortable itching.
However, using Bug Bite Thing is a simple process. You only need to apply the device to the bite, pull until you feel suction, hold for at least 10 minutes, and then release. This will help to alleviate swelling and irritation.
Kelley Higney, one of the founders of Bug Bite Thing, previously worked for her family’s company for 15 years before relocating from Southern California to South Florida.
Kelley and her family were unprepared for the intensity of the mosquito population in their new location, and she watched as her children suffered from mosquito bites on a daily basis. As a concerned mother, she tried various anti-itch treatments, but none seemed to work.
After researching how other countries handle mosquito bites, Kelley came up with the idea for Bug Bite Thing. She now focuses on expanding her career and being a mother now that the product has become successful.
With Bug Bite Thing, you can alleviate the discomfort and itching caused by mosquito bites without resorting to ineffective treatments.
Bug Bite Thing Shark Tank Pitch
Bug Bite Thing, which is sold for $9.95 on Amazon, caught the attention of Ellen and Kelley, who offered $150,000 for a 10% stake in the company. This put the value of the company at $1.5 million.
Ellen and Kelley listened to the company’s story and talked about their private label deal.
The Sharks were impressed by the company’s 80% margins and sales of $800,000 in 2019, with predictions of $2 million by the end of the year.
A Shark battle erupted, and ultimately Lori offered $150,000 for 10%, which was precisely what the company wanted.
The deal was completed, and the product was posted on Lori’s website.
The company’s products can be found at CVS, Walmart, Home Depot, and Amazon, although there are also counterfeit items listed on Amazon.
The company appeared in the “Biggest Shark Attacks” section of The Shark Tank Greatest of All Time Special in February 2020.
Despite the COVID-19 pandemic, the company has demonstrated “dramatic” growth and has experienced significant sales surges at the aforementioned stores.
They plan to expand into 25,000 retail locations across the United States by September 2021.
The company’s product will be available at Lowe’s, Joann’s, and ACE Hardware locations nationally, as well as regional brands Academy Sports + Outdoors, Big 5 Sporting Goods, and Casey’s.
The company anticipates revenue of $15 million for the year.
Bug Bite Thing Shark Tank Updates
Bug Bite Thing is a device that sucks out insect saliva from a bite or sting, which immediately reduces swelling, itching, and discomfort.
The product was pitched on Shark Tank Season 11 Episode 4 by Ellen McAlister and Kelley Higney, who were seeking $150,000 for 10% equity in their business. Lori Greiner made an offer of $150,000 for 10% equity, which was accepted by the co-founders.
After the airing of the episode, the company’s revenue increased significantly, and it is now available in most major retailers, including Target, CVS, Amazon, Walmart, and Home Depot.
The product is sold in 25 countries and in 25,000 major retailer locations. Bug Bite Thing is a multi-million-dollar enterprise and is projected to exceed $15 million in revenue in 2021.
In a press release about the company’s success, Kelley Higney stated, “It has been an incredible journey!” The company is aiming to grow its business to $30 million by next year. The co-founders are still running the business, and Lori Greiner’s partnership has added credibility to the company.
Bug Bite Thing is a successful product that has helped many people reduce the immediate allergic reaction that most of us have to bug bites. The product has exceeded expectations and is now available in many countries and major retailers.
Bug Bite Thing Shark Tank Table Summary:
|Product||Chemical-free, eco-friendly suction device for alleviating insect bites and stings|
|Founders||Ellen McAlister and Kelley Higney|
|Shark Tank||Lori Greiner invested $150,000 for 10% equity, valuing the company at $1.5 million|
|Revenue (2021)||$15 million|
|Net worth (2022)||$16.2 million|
|Goal||Grow business to $30 million by next year|
|Distribution||25,000 retail locations, including Walmart, CVS, Home Depot, Lowe’s, Joann’s, ACE Hardware, Target|
|Competitors||Bite Away, IeR NYC Bite Tamer|
Bug Bite Thing Net Worth
Ellen and Kelley enter Sharks with an offer of $150,000 for a 10% stake in their firm. This is a $1.5 million value.
Bug Bite Thing Competitors
Bite Away and IeR NYC Bite Tamer are the items’ two primary competitors. Each offers a similar concept in terms of bug bite treatment, utilizing its own proprietary components at comparable pricing points.
Bug Bite Thing FAQS
What Is Bug Bite Thing, Shark Tank?
Bug Bite Thing is a suction tool that provides relief from itching, stinging, and swelling caused by bug bites and stings. It was created by a mom who wanted to find a better remedy for bug bites for her daughter.
The tool uses suction to extract the saliva or venom from a bug bite, instantly relieving any itching and swelling. It is a chemical-free solution for bites and stings. The Bug Bite Thing is less than $10, can be easily cleaned, and reused time and time again.
It is safe for all ages and can be used on mosquitoes, wasps, bees, hornets, ants, splinters, thorns, and more.
Bug Bite Thing gained popularity after being featured on the TV show Shark Tank. The founder and CEO of Bug Bite Thing, Kelley Higney, appeared on the show and accepted an investment offer from shark Lori Greiner.
After the show, sales of Bug Bite Thing exploded, and the company’s revenue is projected to reach $30 million in 2022.
The partnership with Lori Greiner added credibility to the business, and Bug Bite Thing is now sold through various retail partners, including Dunham’s Sports, Meijer, Rite Aid, and Walgreens.
The product has won several awards, including the 2021 BIG Innovation Award and the 2021 National Parenting Product Award.
How Does Bug Bite Thing Shark Tank Work?
Bug Bite Thing is a handheld device that uses suction to remove insect venom, saliva, and other irritants left under the skin from the head of an insect bite. The device was created by Kelley Higney and her daughter and was featured on Shark Tank.
The device is placed over the bite or sting area, and the handles on the device are pulled up to create suction. The suction lifts the venom and saliva out of the skin, which helps to reduce itching, stinging, and swelling.
The device can be used on mosquito bites, bee and wasp stings, and bites from flies, chiggers, no-see-ums, sea lice, and more.
Bug Bite Thing is available in 25 countries and in 25,000 major retailer locations that include Walmart and Home Depot.
It is the online merchant’s No. 1 selling product in the insect bite relief category on Amazon, with over 30,000 reviews by customers who all praised its efficacy. The device is projected to exceed $15 million in revenue in 2021.
What Happened To Bug Bite Thing After Shark Tank?
Bug Bite Thing is a chemical-free, reusable insect bite relief tool that uses suction to remove insect saliva or venom from underneath the skin, making it safe for children of all ages and adults.
The product was featured on Shark Tank in Season 11, where Lori Greiner invested $150,000 in exchange for 10% equity in the company.
After the airing of the episode, the company’s revenue increased significantly, and the co-founder projected that by 2019, the annual revenue of their company would be $2 million.
Bug Bite Thing has continued to grow since its appearance on Shark Tank. In April 2021, the product returned to Shark Tank, and the company announced that it would be available at 25,000 new retail locations throughout the U.S.
Its revenue is projected to exceed $15 million in 2021, and its sales at major retail locations in the U.S. have increased by over 1,100%. The company has also announced new retail partners, including Academy Sports + Outdoors, Ace Hardware, Big 5 Sporting Goods, Casey’s, JOANN’s, and Lowe’s.
Bug Bite Thing is still in business, and its co-founders continue to expand the product’s availability and retail partnerships. The company’s success can be attributed to its unique and effective solution to insect bites and stings, as well as its affordable price point and eco-friendly design.
Is Wee Can Bug Bite Thing Shark Tank Still In Business?
Yes, Bug Bite Thing, which was featured on Shark Tank, is still in business as of December 2022. The company was named to Inc.’s 2022 Best in Business list in the consumer products category.
Bug Bite Thing is a chemical-free, reusable insect bite relief suction tool that instantly alleviates the stinging, itching, and swelling caused by insect bites and stings.
The tool solely uses suction to remove insect saliva or venom from underneath the skin, making it safe for all ages. Bug Bite Thing is Amazon’s #1 selling product for insect bite relief, with over 75,000 reviews.
What Is The Current Valuation Of Bug Bite Thing After Shark Tank?
Bug Bite Thing is a suction tool that helps relieve bug bites. It was founded by Kelley Higney and Ellen McAlister and appeared on Shark Tank in October 2019.
Lori Greiner offered the Bug Bite Thing team exactly what they were searching for, and they were able to leave the tank with a partner. Since appearing on Shark Tank, the business has boomed, and it has been an incredible journey thus far.
Bug Bite Thing is a multi-million-dollar enterprise that achieved approximately $15 million in revenue in 2021. It is projected to exceed $15 million in revenue in 2021.
Bug Bite Thing’s business valuation is $1.5 million. However, the net worth of Bug Bite Thing’s founders, Kelley Higney and Ellen McAlister, is $16.2 million as of 2022.
Where is Bug Bite Thing headquartered?
It is in Port Saint Lucie, Florida
Who invested in the Shark Tank’s Bug Bite Thing?
When Higney and her mother & company President Ellen McAlister, appeared on “Shark Tank” in October 2019, all five sharks expressed interest.
But Greiner offered her Golden Ticket, which she only gives out once a year, securing a 10% equity stake in Bug Bite Thing in exchange for a $150,000 investment.
Is the Bug Bite Thing legit?
At less than $10, the Bug Bite Thing is probably worth a go if they’re a mosquito magnet and even the most effective bug sprays can’t keep the bugs at away.
Additionally, the reusable tool will save their money in the long term, as they will no longer need to stock up on bottle after bottle of anti-itch lotion.
Was the Bug Bite Thing on Shark Tank?
Kelley Higney, Founder and CEO of Bug Bite Thing, and her mother, President Ellen McAlister, initially appeared on October 20, 2019 Season 11 Episode 4 of ‘Shark Tank’ to pitch the Sharks on investing in the firm.
Is the insect bite remedy effective on dogs?
Dogs and cats, like people, experience a local response that may include modest swelling, discomfort, redness, heat, and itching.
Generally, the discomfort subsides after a day or two.
Is the Bug Bite Thing available at CVS?
Bug Bite Thing is now available at CVS Pharmacy locations nationwide.
Is Bug Bite Thing effective against fire ants?
The Bug Bite Thing is clinically shown to work on a variety of bites and stings from a variety of insects, including mosquitoes, bees, wasps, fire ants, and biting flies.
Is Bug Bite Thing patented?
Kelley Higney and Ellen McAlister, a mother and daughter team, joined the Sharks in the tank in need of assistance developing inventory and marketing their product, the Bug Bite Thing.
This product is not yet patented.
How do they determine whether the Bug Bite Thing is effective?
They can feel it in action. The Bug Bite Thing does not conceal symptoms; it eliminates the source of the irritation.
While taking it, the itching, swelling, and pain will begin to subside, which is one of its finest qualities.
How does the Bug Bite Thing work?
Bug Bite Thing is a suction gadget designed to extract insect saliva/venom from insect bites and stings.
By eliminating the irritant, the body is able to halt the response that results in the unpleasant sensations of itching, swelling, and discomfort.
What is the liquid that is injected into bug bites?
When an insect bites, saliva is released, which can cause the skin surrounding the bite to become red, swollen, and irritating.
The venom from a sting frequently results in the formation of a swelling, itchy, red mark (a weal) on the skin. This can be uncomfortable, but it is usually harmless.
When was Bug Bite Thing aired on Shark Tank?
It was aired on 20, October 2019.
How many employees does Bug Bite Thing have?
Bug Bite Thing has 11 to 50 employees.
What is the net worth of Ellen McAlister?
What is the net worth of Kelley Higney?
How Bug Bite Thing does makes money?
Bug Bite Thing makes money by selling the Bug Bite Thing and its accessories.