Luma Soda Shark Tank Net Worth 2023 | Luma Soda Shark Tank Updates

Luma Soda Shark Tank Net Worth

Luma Soda appeared on Shark Tank in Season 10 and asked for $500,000 for 20% equity but did not get a deal.

Luma Soda’s net worth before appearing on Shark Tank was $2.5 million USD, while states that it had an inventory worth $600,000 and cash reserves of $30,000 after the show. Luma Soda has earned about $180,000 to date in direct consumer sales.

What is Luma Soda and Who Founded Luma Soda?

Luma Soda is a fizzy beverage that aims to replace traditional soda by containing fewer calories. Unlike regular soda, Luma Soda is free of sugar and derives its sweetness from natural ingredients.

It also lacks preservatives and other harmful substances and comes in a variety of flavors, including Blood Orange, Cherry, Lemon Lime, Cola, and more.

Jim Otteson founded Luma Soda in 2017 after discovering the harmful additives and chemicals contained in diet soda. A former trial attorney, Otteson had a habit of consuming a lot of diet Coke while preparing for trials.

However, after learning about the unhealthy ingredients in diet soda, he started searching for a healthier alternative. Dissatisfied with the options available, he decided to become an entrepreneur and create the soda he desired.

After perfecting his formula, Otteson left his legal career to focus on producing a healthy soda. He risked everything by taking out a home equity loan and was successful in having Luma Soda sold in retailers across the United States and on Amazon.

Otteson will continue to serve as CEO of Luma Soda until 2020. He holds a Bachelor of Science in Microbiology from Brigham Young University and attended law school at Yale University, where he served as a Judicial Clerk for the Idaho Supreme Court until 1992.

Summary Table: Luma Soda Shark Tank

INFORMATION	VALUE
Net worth before Shark Tank	$2.5 million USD
Inventory after Shark Tank	$600,000
Cash reserves after Shark Tank	$30,000
Direct consumer sales to date	$180,000
Pitched for investment	$500,000 for 20% stake ($2.5M valuation)
Sharks’ response	No deal
Founder	Jim Otteson
Founder’s education	Bachelor of Science in Microbiology from Brigham Young University, law school at Yale University
Flavors	Blood Orange, Cherry, Lemon Lime, Cola, and more
Competitors	Zevia Zero Calorie Soda, Bubly Sparkling Water
Status	Closed in August 2020

Luma Soda Shark Tank Pitch

After perfecting his formula and creating Agility Beverages, Jim canned his drink in the United States. It is currently available online and from undisclosed “chosen partners” for $19.99 a case, and a monthly membership is also available.

However, Luma Soda is not yet available in big-name grocery stores, which is what Jim hoped to receive help from the Sharks with.

Jim appeared on Shark Tank, asking for a $500,000 investment for a 20% stake in his company, which implied a $2.5 million valuation. He shared his story and provided samples to the Sharks. Some of the flavors were well-received, but the Sharks’ reactions were divided.

Although Jim claims to have invested $1.75 million of his own money into the company, the Sharks are concerned because the company has only made $180,000 in sales and has a re-order rate of less than 10%.

Jim believes that consumers aren’t restocking because they are used to buying Coke at a shop. Despite Jim’s enthusiasm, the Sharks are worried about his $600,000 inventory and $30,000 cash account.

Barbara Corcoran offered $250,000 on the condition that guest Rohan Oza invests in Luma Soda. However, Rohan declined to invest in Luma Soda because he believed it was a small-scale venture and he wanted to work with business owners who could help them grow.

As a result, Barbara and Rohan decided not to invest in Luma Soda. The Sharks left one by one, leaving Jim without a deal.

As of the July 2019 replay of the episode, the company was still in operation. However, the Luma Soda Amazon store has been updated, and all flavors are currently listed as “temporarily unavailable.” It is possible that Luma is preparing to shut down. Jim closed the company in August 2020 and returned to practicing law.

Luma Soda Net Worth

Jim was looking for an investment of $500,000 for the 20% stake in his business Luma Soda. This indicates a valuation of $2.5 million for his business.

Luma Soda Competitors

Luma Soda has many competitors in the market: this include;

Zevia Zero Calorie Soda; these drinks are made using stevia leaves instead of sugar.

Bubly Sparkling Water; it was started by the company launch Pepsi and Mountain dew.

Luma Soda Shark Tank Updates

Luma Soda is a healthy soda company that was pitched on Shark Tank in episode 1017. The founder, Jim Otteson, created Luma Soda as a clean, naturally sweetened, low-calorie soda that is free of caffeine, stevia, aspartame, and artificial colors.

Luma Soda is sweetened with monk fruit and honey, and each can has only 25 calories. Luma Soda comes in four flavors: Cola, Cherry Cola, Lemon/Lime, and Blood Orange.

Luma Soda went out of business in 2020. Its Facebook account has been inactive since September 2018, and the Luma Soda website is defunct. However, BizzBucket reports that Luma Soda is still in business and available for sale on various online platforms.

Luma Soda earned $180,000 through sales in 2019 and has an inventory of $600,000 and $30,000 in cash reserves. The company failed to make a deal on Shark Tank, but the founder invested his own money in the company by taking a home equity loan and the value of his life insurance.

Luma Soda FAQS.

What Is Luma Soda?

Luma Soda is a healthy soda drink that was created by Jim Otteson in 2017. Otteson, a trial attorney for 26 years, used to drink a lot of diet soda when preparing for a trial.

When he realized that diet sodas were filled with nasty additives and chemicals, he began looking for a healthier, low-calorie soda. He sweetens Luma with monk fruit and a touch of honey – there’s no caffeine, stevia or aspartame to be found. There are no artificial colors either.

Luma Soda comes in four flavors: Cola, Cherry Cola, Lemon/Lime, and Blood Orange. Each can has only 25 guilt-free calories.

Luma Soda is different from other carbonated drinks because it is made with natural ingredients and does not contain any harmful chemicals or preservatives. It is a much healthier alternative for people who enjoy carbonated drinks or diet sodas.

Carbonated drinks and diet sodas contain harmful chemicals, additives, and preservatives to increase their shelf life, as well as they are packed with sugar and other synthetic flavors to enhance their taste.

Unfortunately, Luma Soda failed to succeed in the cutthroat nonalcoholic beverage sector without financing and ran out of money in 2021. Its Facebook account has been inactive since September 2018, and the Luma Soda website is defunct.

How Does Luma Soda Works?

Luma Soda is a healthy soda drink that was created by Jim Otteson in January 2017. Otteson created Luma Soda as a substitute for sugary drinks, hoping to achieve the same satisfaction of a can of cola without the added sugars or artificial sweeteners.

Luma Soda contains only 4 grams of sugar, which comes from natural sweeteners like honey and monk fruit. It does not contain any harmful chemicals or preservatives and is available in many flavors like blood orange, cola, cherry, and lemon-lime.

Luma Soda appeared on Shark Tank in Season 10. However, the company failed to succeed in the cutthroat nonalcoholic beverage sector without financing.

As of September 2018, the company is out of business, and its Facebook account has been inactive since then. The Luma Soda website is also defunct.

In summary, Luma Soda is a healthy soda drink that contains natural sweeteners and does not contain any harmful chemicals or preservatives. It was created as a substitute for sugary drinks and was available in many flavors.

However, the company failed to succeed in the nonalcoholic beverage sector without financing and is no longer in business.

What Happened To Luma Soda After Shark Tank?

Luma Soda appeared on Season 10, Episode 19 of Shark Tank, where Jim Ottosen was seeking $500,000 for 20% equity. The Sharks gave Ottosen suggestions on how to increase sales and free up cash, but ultimately, Luma Soda failed to make a deal on the show.

Despite not securing a deal, Ottosen invested his own money in the company, taking a home equity loan and the value of his life insurance and investing $1,750,000 in the company.

After Shark Tank, Luma Soda continued to grow and was still in business as of 2019, selling drinks cases with selected partners in the USA and online. However, Luma Soda is out of business. Its Facebook account has been inactive since September 2018, and the Luma Soda website is defunct.

It is unclear why Luma Soda went out of business, but it is possible that the cutthroat nonalcoholic beverage sector was too competitive without financing. Jim Ottosen has moved into an entirely different profession, working as a managing director at Major, Lindsey, and Africa, a recruitment company for legal professionals.

What Is The Current Valuation Of Luma Soda?

Luma Soda is a healthy soda drink that was featured on Shark Tank in April 2019. The company was founded by Jim Otteson and is headquartered in Palo Alto, California.

Luma Soda’s net worth before appearing on Shark Tank was $2.5 million USD, and its net worth in 2020 was $180,000 USD. As of 2022, Luma Soda’s current net worth is $600,000 USD. Jim Otteson, the founder of Luma Soda, has a net worth of $600,000 USD as of 2022.

Luma Soda earns money by selling its drinks online and in stores. The drinks cases are available for sale on online websites like Amazon. Luma Soda’s 12-pack soda can set costs about $19.99, which is slightly more expensive than traditional soda.

In 2019, Luma Soda earned $180,000 through sales. The company has an inventory of $600,000 and $30,000 in cash reserves. All of the capital put into the company has come from the $1,750,000 that Jim Otteson invested into it against a home equity loan and the value of his life insurance.

In summary, Luma Soda’s current net worth is $600,000 USD as of 2022. The company earns money by selling its drinks online and in stores, and its 12-pack soda can set costs about $19.99. Jim Otteson, the founder of Luma Soda, has a net worth of $600,000 USD as of 2022.

Is Luma Soda Still In Business?

The information from the search results is conflicting. Luma Soda went out of business in 2020, while others state that the company is still in business and selling its products online and through select partners.

One source mentions that Luma Soda failed to secure a deal on Shark Tank, but the entrepreneur invested his own money in the company, including a home equity loan and the value of his life insurance, totaling $1,750,000.

Another source reports that the company ran out of money and was forced to go out of business in 2021.

It is unclear which information is accurate, as some sources mention that the company’s website is defunct and its social media pages have been inactive since 2018, while others state that the company is still selling its products online.

In conclusion, it is uncertain whether Luma Soda is still in business or not. The available information from the search results is conflicting, and it is unclear which sources are accurate.

Who created Luma Soda?

Luma soda was created by Jim Otteson after he left his job in law in order to focus on producing a healthy soda drink.

How is Luma Soda different from other sodas?

Luma Soda is made using natural ingredients instead of artificial ones to make it less calory.

The sweetness is derived from stevia leaves to make it edible for diabetics and people who are trying to watch their sugar intake.

How much does Luma Soda cost?

It currently sells online for $19.99 a case.

When was Luma Soda created?

Luma Soda was created in 2017.

How much was Luma Soda raised via the Shark Tank Pitch?

Jim was seeking $500K for a 20% stake in his company, implying a $2.5 million valuation but he failed.

Is Luma Soda sold in stores?

It was available at Amazon and other online stores. Jim’s goal is to get the product in grocery store shelves soon.

What happened to Luma Soda after it was rejected by Shark Tank?

Luma Soda will cease operations in October 2021. Despite not receiving a contract on the Shark Tank episode, Luma Soda continued to thrive.

How does Luma Soda generate revenue?

Luma Soda generates revenue by selling sugar-free and preservative-free beverages. Soda Luma

When was Luma Soda aired on Shark Tank?

It was on 14/04/2019

When was Luma Soda started?

Jim started the business in 2017.

Who invested in Luma Soda?

Luma Soda and Sharks could not reach an agreement on the shark tank show.

Is Luma Soda still in business?

Luma Soda ceased its operation in August, 2020.

Can they still buy Luma soda?

Luma Soda is no longer in business. Some remaining inventory may be available on Amazon

Is Luma a beverage?

Luma is the soda reimagined. Luma is a delightful, all-natural soda sweetened with natural honey and monk fruit juice, with only 25 calories and 3-4 grams of sugar per 12-oz drink.

Which episode of Shark Tank was Luma Soda aired?

It is on Season 10 Episode 19.

How much was Luma Soda investment?

Luma Soda didn’t receive a deal from the sharks. The sharks said it was a bad idea because it is a small market and you have to maintain stock for years.

How many brands/variants does Luma Soda have?

Luma soda comes in three flavours (lemon-lime, orange-berry, and raspberry-berry).

What is Luma Soda?

Luma soda is a low-calorie soda that is sweetened with stevia and honey.

What does Luma Soda taste like?

According to the company, “The taste of Luma Soda is very similar to traditional soda, but we use natural ingredients and we don’t add any sugars or artificial sweeteners.”