LARQ Shark Tank Update | What Happened to Larq After the LARQ Shark Tank Pitch?
What is LARQ?
LARQ is a self-cleaning stainless steel water bottle that employs UV-C LED technology to clean water and clean the base of the bottle by eliminating odour-causing bacteria, viruses, and mold.
It ia a cutting-edge bottle that can clean itself and purify the water within it.
When set to its maximum level, it employs environmentally friendly UV-C technology to clean up to 99.9999 percent of germs and 99.9999 percent of viruses.
When set to its maximum level, it employs environmentally friendly UV-C technology to clean up to 99.9999 percent of germs and 99.9999 percent of viruses. The LED light is located at the bottle’s cap’s base.
Justin Wang is the CEO and co-founder of the hydration brand LARQ.
His product, LARQ Bottle, promises pure water beyond filtration, thanks to its award-winning design with effective UV-C LED technology for on-the-go water purification.
With its proprietary and patented PureVis™ UV-C LED technology, the bottle uses 280 nanometre UV light to eradicate germs, triggering a photochemical reaction that destroys their DNA.
Who Founded LARQ?
Justin Wang is the CEO and co-founder of LARQ. Justin is a former venture capitalist turned entrepreneur with a passion for design.
Prior to founding LARQ, Justin worked at various tech startup and non-profits.
What Happened to Larq at the LARQ Shark Tank Pitch?
Justin Wang’s journey began in 2017 with a Kickstarter effort that raised $1,374,021. LARQ was well-received by consumers and critics alike shortly after its market debut in October 2018.
They grew in popularity at a fast pace, which enhanced their sales. Popular media such as The Wall Street Journal and Goop have mentioned the product.
LARQ was also named one of the “Top 10 Smartest Sustainable Products of 2018” by Time Magazine.
The firm returned to Kickstarter in 2020 to fund its forthcoming product, the “world’s first self-cleaning bottle.”
They also conducted IndieGoGo campaigns for their items, which were a huge success.
The same year, the company announced a $10 million Series A lead from Seventure, with participation from the investment firm DCM.
In 2021, Justin approached the shark tank looking for a $500,000 investment for a 1% investment in LARQ Company, which he estimated at $50 million.
He stated that he originally launched LARQ in 2018, and that sales have steadily climbed since then. He estimates that LARQ will generate more than $14 million in sales in 2021.
The sharks were generally impressed with the sales figures and were even more astounded by LARQ’s financial health.
During the shark tank pitch, Daymond John was the first to declare his resignation.
Kevin O’Leary then offered $500,000 for a 4% share.
Lori Greiner requested $500,000 a 5% share.
Robert Herjavec then added to the complication by requesting a 3% ownership and a 2% advisory fee.
Mark Cuban opted out! With all of the proposals in hand, Wang asked the three whether they wanted to do it jointly.
A $1.5 million investment for a 4.5 percent share. Mr Robert replied with $1.5 million for a 6% interest. “What say you?” Robert inquired.
When Wang stated that he would like 1.5 percent of the shares to be advisory shares, Robert declined.
With just Kevin and Lori remaining, and the latter hesitant to settle for advisory shares, Wang ultimately decided to execute the transaction for $1,000,000 million each for a 4% stake.
What Happened to Larq After the LARQ Shark Tank Pitch?
Following the initial airing of the Larq Shark Tank episode in spring 2021, the firm supposedly raised an additional $10 million.
In 01/12/ 2020, Larq joined forces with three-time NBA champion Daymond Green. The water bottle that cleans itself Larq is still in operation, with a broader product line.
Customers may purchase their items online at its website, as well as through numerous e-commerce platforms or wholesalers throughout the world. Justin Wang, the company’s co-founder and CEO, is still on board.
Competitors of LARQ
According to the official website of LARQ, there are various competitors of LARQ Bottle including:
a) Roxane: Roxane is a portable UV light that eliminates all germs including salmonella, E. coli, and listeria. It can clean up to 90% of water.
However, it does not work on cloudy water.
The cost is around $159 for a device that is about the size of a tennis ball can clean up to 1,000 gallons of water in less than 15 minutes.
b) Aquion: Aquion water purification system is a portable water disinfection solution that comes in the form of a high density polyethylene bottle with integrated ceramic electrodes.
The device is eco-friendly, safe, powerful and affordable. However, it does not clean dirty water.
It costs around $65 for each unit.
c) Cheers Healthy Water: Cheers Healthy Water is a carbon filter that manufactured in the USA. Carbon filters are capable of removing chlorine, odours, and taste.
It also removes lead, copper, mercury and other pollutants. However, it is not able to turn non-potable water into potable water.
The product costs around $58 per unit.
d) L10: L10 is a portable water purifier that can go from zero to 1,000 gallons of clean drinking water for between 40 to 80 cents a gallon.
The unit is capable of filtering out viruses, bacteria and toxins. It can be used to treat up to 10,000 gallons of water. It does not work on cloudy or contaminated water.
The cost for each unit would be around $65 per unit.
Net worth of LARQ:
The net worth of LARQ is $50 million. At Shark tank, with Lori and Kevin offering &1,000,000 for 4% ownership, LARQ was valued at $25 million.
FAQS of LARQ
What is LARQ?
LARQ is an innovative water bottle that cleans itself using UV light.
How is LARQ different from other UV Water Bottle?
Other UV Water Bottle work by placing water in a sealed container in the sunlight for a long time, which is harmful to the environment.
LARQ on the other hand, uses 280 nanometer ultraviolet light to destroy germs, viruses and bacteria without exposing the water to sunlight.
Who owns LARQ Company?
LARQ Company is a LA based company, which is the creator of LARQ Bottle. It is co-owned by Justin Wang
Who is the CEO of LARQ?
Justin Wang, who co-founded LARQ Bottle, is the CEO of LARQ Company as well as the designer.
Who is the LAQR Founder?
Justin Wang is founded of LARQ. Justin is a former venture capitalist turned entrepreneur with a passion for design. Prior to founding LARQ, Justin worked at various tech startup and non-profits.
Did Larq Get a Deal on Shark Tank?
YES. LARQ got a deal with Kevin and Lori.
What are LARQ Bottle’s sales?
LARQ’s sales have been growing steadily over the last two years.
Justin Wang told Business Insider that the company has sold approximately 35,000 bottles in less than a year. It is projected that by 2022, LARQ is projected to sell 100,000 bottles.
Is LARQ still in Business?
Yes, LARQ is still in business. The company has been growing steadily over the last two years. By 2022, it is projected that LARQ will have sold 100,000 bottles.
Why are Lard bottles expensive?
Because LARQ bottles are made from a special composite, they are expensive.
To make a Larq bottle, it takes a specialized composite to make a LARQ bottle.
Justin Wang told Entrepreneur Magazine that LARQ is sold at a premium price because the company wants to sell only the most premium water bottles on the market.
Who Invented LARQ?
LARQ was invented by Justin Wang.
What happened to LARQ after Shark Tank?
Since appearing on Shark Tank, LARQ sales have been growing steadily over the last two years. Justin Wang told Business Insider that the company has sold approximately 35,000 bottles in less than a year.
It is projected that by 2022, LARQ is projected to sell 100,000 bottles.
How much is LARQ worth now:
The net worth of LARQ is $50 million.
How much money did LARQ make on Shark Tank?
LARQ made $1 million for 4% ownership for the company from Kevin and Lori.
Is LARQ water bottle legit?
YES. Our team has extensively researched LARQ and found that it is a legit product. The company has been featured in Entrepreneur Magazine, Business Insider, ABC, ABC7News, FOX2Now, CBS SF Bay Area.
Does LARQ bottle work?
LARQ is very effective in eliminating 99.9% of germs from water in just 15 minutes. It also can remove chlorine from tap water. In addition to finding effective against harmful bacteria and viruses such as E.
How many LARQ bottles have been sold?
As of June 2019, LARQ has sold 35,000 bottles.
Is LARQ made of eco-friendly materials?
LARQ is made from a special composite. The company claims that the bottle is functional and safe for human consumption. It also does not contain BPA or lead.
Who is LARQ’s target market?
LARQ bottles are specifically designed for camping and traveling purposes. They are also very popular at the beach.
What is LARQ made of?
The outer shell of LARQ is made of Borosilicate glass. They are very high-quality water bottle that not only looks great but also works incredibly well.
What episode is LARQ Shark Tank?
LARQ Shark Tank is Season 12 Episode 21
Can you put ice in a LARQ bottle?
YES. LARQ bottle is designed to withstand extreme temperature from -40 degrees to 140 degrees. So, you can use it in the summer or winter without worrying about breaking the bottle.
How is LARQ doing after shark tank?
In 2018, the company sold approximately 35,000 bottles to over 70,000 customers. Currently, LARQ is busy developing its new product lines.
Is it possible to purchase LARQ items in Canada?
LARQ is, in fact, accessible in Canada. Customers may buy LARQ items online through Amazon or other e-commerce sites.
What is LARQ?
LARQ is a portable water purifier that uses state-of-the-art UV LED technology to purify your water, no matter where you are.
Where is LARQ made?
LARQ is made in America.
Is LARQ FDA certified?
No. LARQ does not have any certification from Food and Drug Administration (FDA).
Is LARQ Made in China?
Yes, the company’s website indicates that their products are made in China.