What Happened to Luma Soda after Shark Tank? (2022 Updated)

 

Luma Soda company provides a low-calorie soda. It is distinct from other carbonated beverages since it is prepared with natural components. Luma Soda has no toxic chemicals and comes in various flavors, including Cola, Blood Orange, Lemon Lime, and Cherry.

Luma Soda has only four grams of sugar in one serving. It contains natural sweeteners, including honey and monk fruit. For those who prefer carbonated beverages or diet sodas, it is a far healthier option.

Carbonated beverages and diet sodas include toxic chemicals that are additive. Additionally, preservatives extend their shelf life, not to mention sugar, along with some synthetic tastes to improve their taste.

At first appearance, Luma Soda seems to provide a healthy soda drink produced with natural ingredients. On Shark Tank, Jim Ottosen, the entrepreneur, requested $500,000 for a 20% stake at a $250,000 value. Unfortunately, he did not obtain a contract for his company.

Company Overview in Shark Tank

Company Name Luma Soda
Episode          Season 10 Episode 19
Product Offering       Nutritious and Healthy Sodas with Natural Sweeteners
Founded 2017
Founder Jim Otteson
Required Investment $500,000 for 20%
Closing Deal The deal was not offered
Offered Sharks          No sharks accepted or negotiated
Current Business Status Out of Business

What is Luma Soda?

Luma Soda, a low-calorie carbonated beverage, is designed to take the place of traditional soda in people’s diets.

The beverage is unique from conventional soda because of its sugar-free element. Luma Soda’s sweetness is naturally derived from natural components.

Furthermore, Soda products are available in a variety of tastes. Many different tastes are available in Luma Soda, including Blood Orange and Cherry. Also, Cola, Lemon Lime, and many more. Luma Soda also lacks many harmful ingredients such as preservatives.

In Luma Soda, just four grams of sugar are found per serving, thanks to natural sweeteners like monk fruit and honey.

If you adore soda but avoid it because it is unhealthy, Luma Soda would be the right drink for you to consume.

As a healthy alternative to normal soda, you may switch to Luma Soda. Luma Soda has no additions, toxic chemicals, or preservatives to improve taste or increase shelf life.

The surprising fact is that only $11 billion of the $65 billion spent by the typical American is spent on coffee. Hence, if you prefer drinking with a modest quantity of caffeine, Luma Soda is for you.

As a result, if you appreciate caffeine, Luma Soda will be an excellent substitute for coffee. Luma Soda may be the right option for those who enjoy artificially flavored drinks and cannot get enough of them.

How Does Luma Soda Work?

Zevia zero-calorie soda is a movement, much more than a beverage. Instead of sugar, Stevia leaves are used to make these beverages. These drinks come in a variety of tastes. That is why consumers may select from a range of tastes, and the drink is healthful and sugar-free.

Additionally, it sells Bubly, a sparkling water brand founded by the same firm that created Mountain Dew and Pepsi. This sparkling water comes in eight different flavors. The beverage has no sugar and no calories.

According to the business, the beverages are available both online and in shops. The drink cases are also available for purchase on famous internet retailers such as Amazon.

Luma Soda is now collaborating with a few carefully chosen partners. For $19.99, you get a 12-pack of their soda cans, which is a little more pricey than other drinks on the market.

Who Founded Luma Soda? Founder Backgrounds

Jim Ottosen launched Luma Soda in 2017. It has been over 25 years since Jim became a lawyer, and his trial preparation includes a lot of soda consumption.

When Jim heard that sodas contain the most sugar, additives, hazardous chemicals, and preservatives, he got worried for his well-being and quit drinking soda.

He quit drinking soda and began searching for a lesser-calorie drink. Even after extensive investigation, he was unable to create a dependable and healthier substitute for normal Coke. He discovered various goods that were described as healthier alternatives than soda, but they did not please him.

Luma Soda was born as a result of his intention to make a calorie-free soda. When he was making the soda, he decided that it would not have any harmful chemicals, additives, or preservatives added to it.

Luma Soda Business Before Shark Tank

Luma Soda is a beverage that contains a carbonated content. The product is designed with the goal to replace a typical soda drink. On top of that, this drink is so special that it contains fewer calories.

For this reason, the company stood out more than any other business in the same industry. Furthermore, the beverage is produced with a natural sweetener, so consumers will get more energetic while maintaining the sugar in the blood.

The company had exploited a market share of America because $65 billion was spent by most Americans. More importantly, most Americans encounter Diabetes Type II because they enjoy too many sugary beverages and food. Thus, Jim Ottosen produced a soda that was naturally sweet with no healthy effect. So, Luma Soda is the most suitable choice for healthy consumers.

Luma Soda was 2 years old before entering the shark tank show. The owner founded the business in Sonoma County, which he spent a lot of time researching and producing. Jim had done research on dangerous substances that raised the incidence of diabetes Type II, metabolic syndrome, and many more.

Luma Soda During Shark Tank Pitch

Barbara Corocan, one of the Sharks, said she would invest $250,000 in Luma Soda, but only if Rohan Ohza, another Shark, came to invest with her.

Luma Soda appeared on Shark Tank Season 10 Episode 19. Jim Ottosen was looking for $500,000 in exchange for 20% stock. Jim addressed the company’s present state throughout the episode. The Sharks advised the entrepreneur on how to improve sales and save money.

Barbara Corocan said she was willing to invest $250,000, but only if Shark Rohan Ohza came with her to the Show. However, Rohan rejected the offer since he believed this was a zero-scale venture, and he said he wanted to deal with entrepreneurs that could grow.

As a result, Barbara and Rohan declined to proceed with the purchase. Mark attempted to inspire Jim, but he said that this company was not for him. Therefore he is also gone. Mr. Wonderful likewise declined to pursue the sale any further and urged that this entrepreneur, like others, shut the firm.

Luma Soda Closing Deal in Shark Tank

Rohan rejected the offer to invest in the company because he perceived that it was still a small-scale enterprise. Moreover, he likes to engage with company owners who can improve. In conclusion, Barbara and Rohan decided not to invest in Luma Soda.

Jim turned down Mark’s offer because he did not think the business was the right place for him. Other Sharks also rejected Jim because they believed he should shut down the company and concentrate on something else since it would not deliver his anticipated revenues.

As a result, Luma Soda was unable to strike an agreement or clinch a contract on the Show.

Luma Soda After Shark Tank

An investment of $1,750,000 was put in the firm as Jim took a loan in home equity. Despite the fact that the firm is debt-free, they spend $15,000 a month on marketing.

As previously stated on Shark Tank, the firm maintains a $600,000 inventory and a $30,000 cash reserve. In 2019, the total worth was $2,500,000.

Luma Soda made $180,000 in sales in 2019. They have a total of  $600,000 inventory and a $30,000 cash reserve. On Shark Tank, the firm was unable to reach an agreement.

However, the entrepreneur has put his own money into the business. He put $1,750,000 into the business with the help of his loan in home equity with the proceeds from his life insurance policy.

Despite the fact that Luma Soda was not able to get any offer on the Show, the firm is still in operation and expanding. The firm is now distributing drink cases via chosen partners in the United States. Moreover, the product is also available for purchase online.

Current Update: Is Luma Soda Still In Business?

Luma Soda will stop operations in October 2021. Luma Soda continued thriving despite not signing an exclusive contract on the Shark Tank show.

You can still purchase the products through numerous internet platforms, although the majority of the varieties are out of stock. Luma Soda offers its products in the US via a few distributors. Furthermore, if you want to try this healthy soda alternative, you may buy Luma Soda online.

Luma Soda alternatives are available on the market that is devoid of additives, preservatives, and hazardous chemicals. However, no other beverage can compete with Luma Soda.