Luma Soda, a low-sugar swap for traditional soda, was started by Jim Otteson in January, 2017. Luma Soda, a company worth $2.5 Million at the time of their pitch in 2019.
In 2019, they appeared on Shark Tank USA seeking $500,000 for 20% equity. But the Sharks were not interested in investing in Luma Soda.
As of September 2023, Luma Soda went out of business. Jim Otteson closed the company in 2020.
Luma Soda Net Worth
| Net worth | $2.5 Million in Shark Tank pitch 2019. |
| Annual Sales Revenue | $180,000 sales revenue in 2019. |
| Shark Tank Investor | None |
| Founder | Jim Otteson |
Luma Soda Net Worth Timeline
| Net Worth 2023 | Net worth is not available as the company was out of business in 2020. |
| Net Worth 2020 | $2.5 Million |
| Net worth valuation 2019 before appearing on Shark Tank | $2.5 Million |
Luma Soda Pitch on Shark Tank
| Company name | Luma Soda |
| Product | A low-sugar swap for traditional soda |
| Episode | Season 10 Episode 19 |
| Founder | Jim Otteson |
| Asked for | $500,000 for 20% equity |
| Final deal | No deal |
| Shark | None |
| Location | Palo, Alto, United States. |
Luma Soda Founder
Luma Soda was founded by Jim Otteson in 2017. Jim Otteson is a graduate in Science in Microbiology. He discovered harmful and addictive chemicals in diet soda. Then he studied more about those chemicals and found healthy alternatives that used to prepare soda. Finally he used his knowledge to start a new business called Luma Soda. Luma Soda’s founder, Jim Otteson, has a net worth of 750,000 USD as of 2023.
Key accomplishments:
| Year | Accomplishment |
| 2019 | Appeared on Shark Tank season 10 episode 19. |
| 2020 | Closed the company by Jim Otteson. |
Conclusion:
Some companies that appear on the show have not achieved great success, and the Luma Soda was one of them. Sometimes businesses don’t succeed because of many reasons. Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible. However, Luma Soda went out of business in 2020. And the product is no longer available in the market.
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