Luma Soda Net Worth, Shark Tank, Wikipedia, Luma Drink, Traditional sodas sold in the market are no less than a death sentence to your human system and this is why there was a healthier alternative introduced in the market with the name Luma Soda. This product was featured in Season 10 of Shark Tank after that no one heard about this product. Actually, this product was a lifesaver as all the sodas in the market are loaded with harmful contents like sugar and artificial ingredients.
Luma Soda was designed keeping health in mind. This soda had all the natural ingredients with the same flavor and frizziness as traditional sodas. There was less sugar content in it keeping the consumer’s health safe and sound.
This soda was made of natural ingredients like real fruit juice, monk fruit, honey, etc. There were all different sorts of flavors like blood orange, cola, lemon-lime, cheery, etc. This product is an excellent choice for all those who love to have soda to refresh themselves but in a healthier way.
Luma Soda Net Worth, Shark Tank, Wikipedia, Luma Drink
| Company Name | Luma Soda |
| Founder of the Company | Jim Otteson |
| Product | Natural Soda |
| Investment Seeking | $500 K For a 20% stake in Luma Soda |
| Final Deal | No Deal |
| Shark Name | No Shark |
| Episodes featured | Season 10, Episode 19 |
| Business Status | Out of Business |
Who is the founder of Luma Soda?
Jim Otten a successful entrepreneur is the man behind the natural Luma Soda who comes from a healthcare background. Everything related bad to sodas like artificial sweeteners, causes of illness, craze behind soda drinking.
High sugar content and overall well-being at stake inspired Jim to create Luma Soda. His goal was to make a drink that gives health to the consumer with no compromise with quality and taste.
Before appearing on Shark Tank this product had already grabbed the attention and also built a loyal customer base. Luma Soda drink was being sold online and through some selected stores.
Exposure on national TV helped Luma Soda gain wider audiences and Jim also attracted potential investors. Luma Soda had lots of goals regarding this product but the major one was to create healthier drinks.
Luma Soda had already gained pace in the market before appearing on Shark Tank. Today everyone wishes to know what happened to Jim and his Luma Soda which was a breakthrough in the market of refreshing drinks.
Luma Soda Shark Tank Pitch
Luma Soda was a product created by Jim Otteson which was a healthier form of traditional sodas. He came up with cherry cola and premium lemon flavors. He admitted on TV that he was a diet soda addict himself and his goal was to create a better alternative to it.
luma drink net worth
Jim was seeking 20% equity on an investment of $500K in his Luma Soda Company which would give the company $2.5 million value. Jim also told the sharks that Luma Soda has already generated $180K in direct-to-consumer sales online.
He also told them that there are not many repeat customers. He also added that he got the feedback that consumers need more accessibility in health food stores, traditional grocery stores, etc. The sharks were not happy with the price of Luma Soda.
Online a single pack with twelve bottles costs $19.99 which is a very high price tag as compared to sodas provided in the grocery store.
The sharks were not happy with the price strategy of Jim. Jim also said that he invested$2 million in his company but the sharks were still left unimpressed and Jim had to get out with no deal.
What happened to Luma Soda after the shark tank?
Jim Otteson failed to get the deal on Shark Tank though Shark Barbara Corcoran showed a bit of interest but only if Rohan Oza joined her too. Oza had no interest as he was not interested in small scale and skeptical about growth potential.
Other sharks advised Jim to focus on any other business but Jim did not let the shark tank declination affect his interest in Luma Soda. He again invested some amount into his business which was $ 1.75 million through his life insurance policy and other investments.
Luma Soda continued its operations and is sold online and through selected sales channels offline. In 2019 the company made a $180K sales profit. Every month company used to sell huge amounts on marketing and they were also soon debt free the company had a net worth of $2.5.
In 2021 after all the efforts the company ceased and remained available online. Though there are complaints that online stores do not have all the flavors some flavors are still available online for sale. Luma Soda is still in business and might do a comeback soon or might be out of stock forever as the operations ceased in 2021 already.
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