Luma Soda Net Worth, Shark Tank, Wikipedia, Luma Drinks, The traditional soda sold in the market is nothing less than a death sentence to your human system and this is why there is a healthier alternative introduced in the market by the name of Luma Soda. This product was featured in Season 10 of Shark Tank after which no one heard about this product. In fact, this product is a lifesaver because all the sodas on the market are loaded with harmful ingredients like sugar and artificial ingredients.
Luma Soda is designed with health in mind. This soda has all natural ingredients with the same flavor and crunch as traditional soda. There is less sugar content in it ensuring the health of the user is safe and healthy.
This soda is made from natural ingredients such as natural fruit juice, monk fruit, honey, etc. There are many different flavors such as blood orange, cola, lemon-lime, ceria, etc. This product is an excellent choice for everyone who likes to drink soda to refresh themselves but in a healthier way.
luma soda net worth
Luma Soda Net Worth, Shark Tank, Wikipedia, Luma Drinks
| Company Name | Soda Luma |
| Company Founder | Jim Otteson |
| product | Natural Soda |
| Looking for Investments | $500 K For 20% stake in Luma Soda |
| Final Offer | No Offer |
| Shark name | No Sharks |
| The episode is displayed | 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 natural Luma Soda who comes from a healthcare background. Everything bad related to soda such as artificial sweeteners, causes of disease, the craze behind soda drinking.
The high sugar content and overall well-being at stake inspired Jim to create Luma Soda. The goal is to make a drink that gives health to the consumer without compromising on quality and taste.
Before appearing on Shark Tank, this product had already attracted attention and even built a loyal customer base. Luma Soda drinks are being sold online and through select stores.
Exposure on national TV helped Luma Soda gain a wider audience and Jim also attracted potential investors. Luma Soda has many goals regarding this product but the main one is to create a healthier drink.
Luma Soda had already gained momentum in the market before appearing on Shark Tank. Today everyone wants to know what happened to Jim and his Luma Soda which was a success in the refreshing drink market.
Luma Soda Shark Tank Field
Luma Soda is a product created by Jim Otteson that is a healthier form of traditional soda. He produces premium cherry cola and lemon flavors. He admitted on TV that he himself was a diet soda addict and his goal was to create a better alternative for him.
luma drink net worth
Jim is seeking 20% equity on a $500K investment in his Luma Soda Company which will value the company at $2.5 million. Jim also told the shark that Luma Soda has generated $180K in direct-to-consumer sales online.
He also told them that there are not many repeat customers. He also added that he is getting feedback that consumers need more access in health food stores, traditional grocery stores, etc. The shark was not satisfied with the price of Luma Soda.
Online a pack of twelve bottles costs $19.99 which is a very high price tag compared to the soda available at the grocery store.
The sharks are not happy with Jim’s pricing strategy. Jim also said that he invested $2 million in his company but the sharks were still unimpressed and Jim had to walk out without a deal.
What happened to Luma Soda after the shark tank?
Jim Otteson failed to get a deal on Shark Tank despite Shark Barbara Corcoran showing some interest but only if Rohan Oza was on board as well. Oza was not interested because he was not interested in small scale and was skeptical about the growth potential.
The other sharks advised Jim to focus on any other business but Jim did not let the decline of the shark tank affect his interest in Luma Soda. He again invested an amount of $1.75 million into his business through his life insurance policy and other investments.
Luma Soda continues its operations and is sold online and through selected offline sales channels. In 2019 the company had a sales profit of $180K. Each month the company usually sells a large amount for marketing and they are also soon debt free the company has a net worth of $2.5.
In 2021 after all efforts the company ceases and remains available online. Despite complaints that the online store does not have all the flavors some flavors are still available online for sale. Luma Soda is still in business and may make a comeback soon or may be out of stock forever as it has ceased operations in 2021.
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Categories: Biography
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