On Friday, March 18, 2016, Wondercide Founder and CEO Stephanie Boone and business partner and CMO Laura Alter appeared on ABC’s 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 Wondercide $500,000 for 3 percent equity in the company and a 50-percent 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,” Boone said. “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 led to doubling our revenue every year since we’ve been in business,” Alter added. “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.”
Approximately 75 percent of US households use synthetic pesticides at home – in the form of pet flea and tick products, insect repellents and bug killers used on homes and lawns. Wondercide offers an alternative to synthetic pesticides with a complete line of natural products that are safe for pets, family and home.
With this funding, Wondercide plans to hire its first key sales leader to establish 600 new independent retail accounts nationwide within the next 12 months. Opening up new independent retail sales avenues will also enable Wondercide to expand its mission and reach more consumers to educate them on the risks of synthetic pesticides, and establish a safe, natural alternative as the norm in our homes.