Boost Oxygen Shark Tank Net Worth 2023
During a business pitch, Boost Oxygen was valued at $20 million. However, after investor Kevin O’Leary made an investment, the company’s value decreased to $15.4 million.
Despite this setback, the company has been successful in generating revenue through strong sales performance, with an annual revenue of $15 million. This indicates that the company’s overall worth has increased over time.
What is Boost Oxygen? Who is the founder of Boost Oxygen?
Boost Oxygen is a company that produces and sells supplementary oxygen to increase oxygen levels in the body.
The company was founded by Rob Neuner in 2007 after he discovered the popularity of canned oxygen in European markets.
Neuner initially started using canned oxygen to boost his energy during jet-lag and triathlons, and later realized the potential for the product in the United States market.
Breathing in oxygen has numerous health benefits and can provide similar advantages as energy drinks without the caffeine and sugar.
Boost Oxygen is considered “aviator grade” oxygen and can provide metabolic benefits to users. The oxygen is important for cell metabolism, and if the body doesn’t receive enough of it, cell metabolism slows down and causes lethargy.
Boost Oxygen is intended for recreational use and is not a substitute for medical oxygen. The product is 85 percent pure, whereas medical oxygen is 99 percent pure.
Boost Oxygen is available in three aromatherapy flavors – pink grapefruit, peppermint, and menthol – and can be purchased online at Amazon and in CVS stores across the country.
The price of Boost Oxygen varies based on the size of the canister. A pocket-sized can costs $7.99 and contains about 40 inhales, while a medium-sized can costs $9.99 and contains about 100 inhales.
A large canister costs $14.99 and provides about 200 inhales. There are also discounts available for purchasing in quantity.
Boost Oxygen has recently signed a contract with Major League Lacrosse and is popular among fitness enthusiasts and triathletes. Olympic swimmer and Ironman champion Kyle Smith is a regular user of the product.
It’s important to note that Boost Oxygen is not a substitute for medical oxygen and one canister of Boost Oxygen can last for approximately 30 minutes.
Each canister contains 0.5 milliliters (mL) of air, which is equivalent to 1 liter (L) of room air at sea level pressure (14.7 psi).
Boost Oxygen Shark Tank Pitch
Mike and Rob decided to present their business idea to the investors on Shark Tank, in the second episode of the ninth season of Boost Oxygen. Their objective was to establish connections with other sports organizations and enhance their development prospects.
During the pitch, they requested $1 million in exchange for a 5% stake in their company, which was valued at $20 million. They sought the guidance of a Shark to expand their retail distribution.
They revealed that their annual sales were $6.4 million, with a profit of $1.5 million. Despite appreciating their data, the Sharks were hesitant due to the high consumer education curve, and they eventually declined the offer one by one.
Kevin presented an alternative offer of a $1 million loan at a 9% interest rate, in exchange for 7.5% equity shares. After some negotiation, they agreed on a $1 million loan at a 7.5% interest rate, with Kevin receiving 6.25% equity shares. The deal was finalized, and Rob and Mike left the pitch with Kevin’s support.
After the show aired, the company’s products were made available in several national brands such as CVS, Dicks Sporting Goods, and Bass Pro Shops. Customers could also purchase their products from Amazon.
Since appearing on Shark Tank, the company has generated over $15 million in less than a year, and they have increased their retail presence from approximately 4,000 to over 8,000 shops, including Kroger’s and Walgreen’s.
During the 2020 Covid-19 epidemic, the company donated to the Bridgeport, CT food pantry. Kevin also promoted the business during the episode, stating that it had the potential to be “big” in the future. As of June 2021, the firm’s sales were predicted to exceed $20 million for the year, indicating their success.
Competitors of Boost Oxygen
The company top competitors include Total Gym, Kangoo Jumps, Precor and Aspire Beverage.
Net Worth of Boost Oxygen
The company was valued at $20 million during the pitch, after the investment done by Kevin O Leary the company valuation was $15.4 million. Since then the company have been doing well in sales with annual revenue of $15 million. This shows that the company net worth had increased.
Boost Oxygen FAQs
What is Boost Oxygen?
Boost Oxygen is a supplementary oxygen firm that produces and expands oxygen levels, after seeing canned oxygen was a huge seller in European markets.
Who is the founder?
The founder is Rob Neuner.
How much were they asking on Shark Tank?
They were seeking for $1 Million for 5% Stake of their company.
Did they get the deal?
Yes, they got the deal from Kevin O Leary after the Shark Tank episode.
How much was the deal?
Kevin O’ Leary offered $1 million loan at 7.5% interest with Kevin receiving 6.25% equity shares of the company.
Is Boost Oxygen still in business?
Yes, the company is still in business and growing their sales with over 20 million dollars projected for 2021.
How much money did they make from Shark Tank?
They made $15 Million from Shark Tank.
Where is their Headquarters located?
The firm has its headquarters in Chicago and is headquartered at 206 W. Congress Street, Chicago IL 60610.
What products does Boost Oxygen sell?
Boost offers many different types of supplements, including a t-shirt, water bottles and USB fans.
What has been the company’s performance?
The company was valued at $20 million during the pitch after Kevin O Leary invested in it. Since then the company have been doing well in sales with annual revenue of $15 million. This shows that the company net worth had increased.
How does Boost Oxygen Work?
Boost Oxygen canister provides 0.5 milliliters (mL) of air, which is equivalent to 1 liter (L) of room air at sea level pressure (14.7 psi). The total volume available from one canister is.
Why is it so bright?
The weight of oxygen gas is negligible. The sealed cans of Boost Oxygen are relatively light, but they are guaranteed to be full. Because the Oxygen within has no visible mass, the weight of a full container seems empty. Because of the weight advantage, Boost Oxygen cans are easy to transport.
Is it okay for me to take Boost Oxygen if I have a lung condition?
Boost Oxygen is not a replacement for those who have been prescribed Medical Oxygen (99 percent purity) for medical reasons. It is only for recreational purposes.
Is Boost Oxygen combustible?
No. Although oxygen is not a fuel in and of itself, when coupled with a fuel and ignited, it can serve to speed up the chemical process.
Is it legal to bring Boost Oxygen on a passenger plane?
Despite the fact that Boost Oxygen is a natural and safe substance, the FAA and TSA do not allow recreational oxygen in carry-on or checked luggage.
How do I dispose of the canisters?
Because our canisters are composed of aluminum, they are recyclable. They may be disposed of in the same manner as regular cans!
How do you handle returns?
If a product is damaged in transit or arrives faulty, please return it to the firm at the contact address indicated on our Contact Page, along with a copy of the receipt and an explanation for the return.
A full refund will be granted within 30 days of arrival following a satisfactory evaluation (by Boost Oxygen LLC) that there was a manufacturer’s defect or that damage occurred during delivery.
How do I know when it’s time to change my Boost Oxygen canister?
Boost Oxygen is merely pressure pumped into the container (sort of like a tire). There are no aerosols or propellants utilized.
As the can depletes, so does the pressure of the oxygen flow from the can, until it is eventually empty. The container is empty when the oxygen no longer flows.
What is the net worth of Rob Neuner?
Rob Neuter’s net worth is unknown.