Wondercide Wins on "Shark Tank," Expands Mission
Stephanie Boone, Wondercide founder and CEO, and Laura Alter, business partner and CMO, appeared on ABC’s “The Shark Tank” seeking $500,000 in exchange for 5 percent equity to grow retail distribution of its line of safe and effective pesticide alternatives for pets, people and property.
Impressed by the preparation of the team, the success of the business and the effectiveness of the products themselves, Lori Greiner offered Austin, Texas-based Wondercide $500,000 for 3 percent equity in the company and a 50-cent royalty on every unit sold until repaid, securing a $16.6 million valuation for the company.
“It was in 2008, when my dog Luna became deathly ill from conventional flea and tick treatment, that I started on this journey to create safe and effective alternatives to pesticides used on pets, families, and in homes,” said Boone. “I am beyond proud of what we have been able to accomplish. To have Lori Greiner join us in our mission to protect pets and families is incredibly gratifying.”
“‘Shark Tank’ took many months of intense preparation; this is on top of the hard work we put into Wondercide each and every day, which has lead to doubling our revenue every year since we’ve been in business,” said Alter. “To say it was a challenge is an understatement, but we are thrilled with the outcome and eager to continue to grow our business and protect even more pets and families.”
Wondercide offers a natural alternative to flea and tick products with a complete line that is safe for pets, families and homes and, unlike many natural products, actually works, the company states.
Prior to “Shark Tank,” Wondercide had delivered triple-digit growth year-over-year since its inception, and the initial product concept has now expanded to more than 30 natural products.
With this funding, Wondercide plans to hire its first key sales leader to establish 600 new independent retail accounts nationwide during the next 12 months. Opening up new independent retail sales avenues also will enable Wondercide to expand its mission and reach more consumers.