Luma Soda is a manufacturer of healthy sodas made from natural sugars .Company has changed the soda game. It is the everyday soda that tastes great and is truly healthy. Now you can have your soda, and drink it, for
Luma is made with only natural ingredients. Sweetened with natural honey and naturally produced monk fruit juice. Luma’s flavors and colors come from fruits and vegetables and no artificial preservatives such as sodium benzoate are guaranteed.
|Business Call For||Sweet Soda|
|Demand||$500,000 for 20% equity|
|Interested Shark||No one|
Who is Jim Otteson?
Jim Ottosen founded Luma Soda in 2017. Jim has been a lawyer for 26 years. While preparing for trial he often consumed diet sodas. But he soon discovered that these diet sodas contain preservatives that can be very harmful.
Jim And Shark Tank S10
Jim Otteson enter shark Tank began introducing his company, Luma Soda, admitting that he has always been addicted to diet sodas. He believes his company provides a much healthier alternative to diet sodas, with premium formulas of lemon and cherry colas that contain only 25 calories and a hint of sugar.
Jim proudly admitted that, at the time of the presentation his company had already achieved $180,000 in sales for the current calendar year. All sales were directed to the online consumer. Jim says that his company did not have many repeat customers. Customers wanted the brand to expand throughout North America so that they could buy it in traditional Grocery store
One of the obvious problems was that a single 12-pack of Jim’s healthy flavored soda cost $19.99 online. Much Higher price than a 12-pack of traditional soda found in a grocery store. The sharks were not happy with this price.
Reason why jim’s Bid not Convinced Sharks
The sharks wanted to know if Jim had invested any of his own money in the company, and he replied that he had invested just under $2 million of his personal money.
After hearing the company’s financial numbers and tasting the flavored drink, Lori Greiner did not like the taste or flavor and decided to withdraw without bidding. Sharks also withdrew one by one until they were all eliminated.
Jim was not able to get a deal for his company. We can get an update on Luma Soda to see how the company has fared since its participation in Shark Tank season 10.It turned out that the company ran out of money .It forced to cease operations in 2021.
After shark Luma soda net worth 2022?
The company failed to close a deal with Shark Tank.The entrepreneur invested his own money in the company. He took out his home loan and the value of his life insurance policy and invested $1,750,000 in the company. Luma Soda business without shark is growing. Luma soda net worth 2022 estimated at $2.5 million