Bug Bite Thing Net Worth 2024: Shark Tank Success & Financials
Ever swatted at a mosquito and wished for instant relief? The Bug Bite Thing, a simple yet ingenious device, has not only provided that relief to countless individuals but has also blossomed into a multi-million dollar enterprise, capturing the attention of both consumers and investors alike.
In the bustling world of entrepreneurship, success stories often emerge from the most unexpected places. The Bug Bite Thing, a product born from a personal need, has become a shining example of how a simple solution can translate into a thriving business. Founded in 2015 by Kelley Higney and her mother, Ellen McAlister, the Bug Bite Thing was created to offer a chemical-free way to alleviate the discomfort of insect bites. The idea stemmed from a common frustration: the persistent itching and swelling caused by bites from mosquitoes, bees, and other irksome insects. Recognizing a gap in the market for a natural and effective remedy, Higney and McAlister set out to create a product that would provide immediate relief.
The genesis of the Bug Bite Thing can be traced back to 2013 when Kelley Higney, the current CEO, conceived the idea. The product, a small suction tool, works by extracting insect saliva or venom from under the skin, thus eliminating the itching, stinging, and swelling associated with bites. This straightforward yet effective mechanism quickly garnered attention, particularly after the company's appearance on the popular television show "Shark Tank." The episode, which aired during season 11, episode 4, proved to be a pivotal moment for the brand, catapulting it into the public eye and paving the way for substantial growth.
The exposure on "Shark Tank" was a game-changer. Immediately following the show, the Bug Bite Thing experienced a surge in website traffic, sales, and social media engagement. This boost in visibility translated into increased market penetration and brand recognition. The products accessibility was also amplified, as it became available in a multitude of retail locations, including giants like Walmart and Home Depot, expanding its reach to a vast consumer base. As the product gained traction, its efficacy became evident, quickly earning it the coveted title of Amazon's #1 selling product for insect bite relief, supported by over 90,000 reviews.
The company's financial performance underscores its impressive success. As of 2025, Bug Bite Thing boasts an impressive $25 million in annual revenue and a net worth of $21 million. The journey to this financial milestone has been marked by strategic decisions and calculated expansions. The partnership with Lori Greiner, secured after the "Shark Tank" appearance, proved to be particularly influential, accelerating the company's growth and market presence. The company's ambition to reach $30 million in sales by the following year showcases the robust trajectory the company is on, indicating an aggressive yet achievable growth strategy.
| Category | Details |
|---|---|
| Name | Kelley Higney |
| Title | Founder & CEO, Bug Bite Thing |
| Co-Founder | Ellen McAlister |
| Year Founded | 2015 |
| Location | Port St. Lucie, Florida |
| Primary Income Source | Bug Bite Thing sales |
| Shark Tank Appearance | Season 11, Episode 4 |
| Shark Tank Deal | Secured a deal with Lori Greiner |
| Notable Projects/Assets | Bug Bite Thing, TickEase acquisition |
| Website | Bug Bite Thing Official Website |
The company's expansion strategy has been multifaceted. In 2023, Bug Bite Thing expanded beyond the insect bite relief sector, venturing into the pet and flea/tick product industries with the introduction of the Bug Bite Thing Tick Remover for both people and pets. Further demonstrating their business acumen, Bug Bite Thing acquired TickEase for an undisclosed amount, which would aid the company in solidifying their presence in the tick removal market. This strategic move not only widened the product portfolio but also tapped into new market segments, generating additional revenue streams and solidifying its position as a leader in the insect bite relief and tick removal sectors. The company's foray into these areas highlighted a commitment to broader customer needs and market opportunities.
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The Bug Bite Thing's success can also be attributed to its effectiveness and ease of use. The simple design, consisting of a suction tool, is both portable and efficient. With a list price of just $10, it is an affordable solution, making it accessible to a wide audience. The products value proposition is clear: quick, chemical-free relief from the discomfort of insect bites. Its popularity is evident in its widespread availability across major retailers and in the vast number of positive customer reviews, solidifying its place as a go-to solution for many.
The financial trajectory of the Bug Bite Thing is a testament to the power of a well-conceived product and astute business decisions. The company's initial pitch on "Shark Tank" sought $150,000 for a 10% stake, valuing the company at $1.5 million. The deal with Lori Greiner, however, ultimately proved far more valuable. As of 2022, the founders' net worth was estimated to be $16.2 million, reflecting the company's exponential growth. Estimates suggest the net worth has since climbed to over $15 million, with ongoing growth expected. The companys retail sales of $21 million in just two years after the Shark Tank appearance, which also included the acquisition of TickEase, further validate the success of the brand.
The Bug Bite Things story is one of continuous evolution. The company's innovation and adaptation continue to propel its success. Bug Bite Thing is more than just a product; it's a brand that has resonated with consumers, establishing itself as a leader in the health and wellness industry. Its net worth is a reflection of its effectiveness, market reach, and the innovative spirit of its founders. As the company forges ahead, it is poised to maintain its position as a frontrunner in the insect bite relief market, driven by a steadfast commitment to providing effective, user-friendly solutions and expanding its presence in the marketplace. The continued success of Bug Bite Thing serves as an inspiring example of how a simple yet essential product can transform into a thriving enterprise, capturing the attention of both consumers and investors alike.
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