Bug Bite Thing Net Worth: “Everything erupted” a year after Kelley Higney appeared on Shark Tank and accepted an investment offer from Lori Greiner, according to the CEO of Bug Bite Thing. Both partners were brimming with Optimism and excitement following a two-minute update segment highlighting Higney’s return to the show last month. We’ve made $11 million so far, “a year and a half after signing our agreement” (with Greiner).
When Higney approached the five Shark Tank investors to pitch her invention, Bug Bite Thing (a chemical-free suction device that effectively relieved the symptoms of bug bites and sting stings), she stated that she had made $500,000 in sales the year before to her pitch. The ABC show “Shark Tank,” which connects entrepreneurs with investors, is now in its 12th season. Higney estimated that sales will “pass $15 million” this year, with a goal of “30 million” by 2022. According to Higney, the Emmy-winning show “Shark Tank” is the best venue in the world to launch a business. (northeastohiogastro.com)
When Higney and her mother, CEO Ellen McAlister, appeared on “Shark Tank” in October 2019, all five sharks were intrigued, but QVC maven Greiner offered her Golden Ticket, which she only gives out once a year, to win a $150,000 ownership investment in Bug Bite Thing. Higney mentioned in her pitch that she had the concept for a simple product that suctions away the saliva or poison from an insect bite quickly after arriving in Port St. Lucie from California in 2013. A.C. Kerman Inc, her family’s import-export company, assisted Higney in finding a Danish manufacturer who was creating the product but only for use in industrial first aid kits.
Greiner’s contributions as a Coworker
Higney’s plan to market the product to American consumers was met with enthusiasm by the product’s originator. Greiner had a key role in arranging a “very lucrative” deal with the manufacturer, as well as dealing with inventory issues and negotiating with a co-packer for the goods. Greiner’s relationship with Higney, according to Higney, has given her firm more legitimacy. Bug Bite Thing’s President Ellen McAlister and CEO Kelley Higney present Krista Garofalo, Chief Resource Officer of the Treasure Coast Food Bank, with a $10,000 ceremonial check.
“People take you more seriously when you have Lori Greiner as a partner,” she observed. Prior to “Shark Tank,” Bug Bite Thing was available on the company’s website and at CVS Pharmacy. It was only available to the US, Canada, and South Korea. Bug Bite Thing is now available in 25 countries across six continents, thanks to Greiner’s retail expertise, in addition to The Home Depot and Walmart, according to Higney. For example, the device received more than 30k positive ratings on Amazon in just 18 months, making it the best-selling insect-bite product.
Bug Bite Thing will be on the QVC Network by the beginning of the summer, according to Higney. When asked how the company grew from two to thirty employees, Higney replied that ten more individuals will be hired before the end of the year. It swiftly outgrew its 5,000-square-foot office and warehouse in St. Lucie West, and now has a second warehouse with a 5,000-square-foot area. She’s looking for a space that’s between 20,000 and 30,000 square feet, she said. Bug Bite Thing became quite popular during the pandemic. That’s why, in January, Higney donated $10,000 to the Treasure Coast Food Bank, the area’s largest hunger-relief organization.
The business world has been Gushing with Admiration
The Best in Biz Awards recognized an award-winning insect bite treatment as Consumer Product Company of the Year and fastest-growing company in 2020, as well as Best in Biz Awards’ Most Innovative Consumer Product of the Year. This year, it took home the BIG Innovation Award in the Consumer Product Category. Bug Bit Thing was invented to help people avoid mosquito bites. Bug Bite Thing is a lifesaver for people who are besieged by mosquitoes during the spring and summer months because of their appetite for blood.
It’s not only simple to apply, but it also works quickly to cure inflammation. Simply place the product on your bite, pull until a suction sensation develops, hold for 10 minutes, and then let go entirely. Kelley Higney is the creator of Bug Bite Thing. Kelley and her family relocated to South Florida, where they were unfamiliar with bugs. After seeing her children suffer from the itching and misery caused by mosquito bites, she felt obliged to act. There was nothing she could do to stop the scratching. Her eagerness to learn more about what other countries were doing led to the creation of Bug Bite Thing.
WHAT IS THE BUG BITE THING’S POPULARITY?
Those who have been bitten by mosquitos might use the poison suction device to clean off any red welts that have formed. To top it off, the product can be used multiple times! Furthermore, Big Bite Thing is available at a reduced price on the company’s official website, Amazon, and a few other pharmacies.
THE SHARK TANK’S APPEARANCE – DID IT PASS?
They entered the Tank wanting to receive $150,000 in exchange for a 10% interest in their company. Following a demonstration of their product, distribution of samples, and discussion of their excellent revenue, the shark fight began. Lori Greiner stole the show this time by giving Bug Bite Thing exactly what they wanted after a strong fight! They were able to walk away from the tank with $150,000 in cash and a 10% interest in the business.
What is Bug Bite Thing’s current location?
The Bug Bite Thing is still in full swing as of this writing, and it’s working quite well. Bug Bite Thing is a multi-million dollar corporation, with sales of $15 million in 2021. Kelley’s business has taken off since she featured on Shark Tank, according to a news release, and she characterizes the experience as “an unbelievable trip.” Bug Bite Thing was highlighted on Shark Tank as an eco-friendly, chemical-free alternative to insect bites and stings, which can cause stinging, itching, and swelling. The reusable tool, which removes insect venom using just suction, is safe for children and people of all ages to use.
In 2019, Kelley Higney and her mother appeared on ABC’s Shark Tank, where they landed a deal with Lori Greiner, an inventor, and entrepreneur. The company was presented on ‘Shark Tank’ in April 2021, where it was demonstrated that it had grown into a multimillion-dollar corporation. Bug Bite Thing has received a total of 16 prestigious awards, including the Stevie Awards for Women in Business Consumer Product Company of the Year 2020, and the Consumer World Award for its Consumer Product of the Year 2020 Gold Winner.
The St. Lucie County Chamber of Commerce, the Treasure Coast Food Bank (a member of Feeding America), and the Girl Scouts of Southeast Florida are all members of Bug Bite Thing, which is situated in Port St. Lucie, Florida. Cancer Free Economy Network is also a member of the company. It’s available on Amazon.com, BugBiteThing.com, and in major American shops. Visit Bug Bite Thing for additional information, and stay up to date on Facebook, Instagram, LinkedIn, TikTok, and Twitter!
CONCLUSION
Despite the fact that the sale was completed, Lori’s website still lists its product. By September 2021, Big Bite Thing had 25,000 retail locations and a record-breaking income of $15 million.
