With its naturally sweetened sodas, California-based beverage company Luma Soda has been making waves in the health and wellness sector. Jim Otteson founded the business in 2018, and now Luma Soda net worth is more than $700K and it is well-known for its low-calorie and low-sugar beverages made with plant-based ingredients.
Recent reports indicate that Luma Soda is worth around $750,000. Luma Soda Has Established Itself As A Leader In The Health-Conscious Beverage Sector With A Focus On Sustainability And Transparent Ingredient Sourcing. Luma Soda will probably continue to experience revenue and net worth growth as it broadens its reach across the United States as more people place a higher priority on their health and well-being.
Because it has far fewer calories than regular soda, Luma Soda is a carbonated beverage that aims to replace it. Because it doesn’t contain sugar, Luma Soda differs from regular soda. Luma Soda’s sweetness is derived from organic components. You can choose from a variety of Luma Soda flavors.
There are numerous flavors of Luma Soda, including Blood Orange, Cherry, Lemon Lime, Cola, and many others. Additionally, Luma Soda is free of harmful chemicals and preservatives. Just 4 grams of sugar are contained in each serving of Luma Soda, which gets its sweetness from honey and natural sweeteners like monk fruit.
Luma Soda Net Worth
|Product/Startup||Naturally Sweetened Sodas|
|Investment Seeking||$500,000 for a 20% stake in Luma Soda|
|Final Deal||No Deal|
|Share Who Invested||No Shark|
|Episode Aired||Season 10 Episode 19|
|Business Status||Out of Business|
Luma Soda Net Worth Growth in the Last 5 Years
Luma Soda Early Life: Founding of Company
Jim Otteson, who started his entrepreneurial journey as a young man, founded Luma Soda in 2018. Otteson developed an early interest in the health and fitness sector. Then he began experimenting with homemade natural sodas. He sought to develop a healthier substitute for conventionally sweetened beverages.
Otteson experimented with several flavors and ingredients before coming up with the cola flavor that would become Luma Soda’s defining flavor. The beverage quickly gained popularity among health-conscious consumers thanks to its distinctive blend of natural ingredients, which included kola nut extract, ginger root, and green coffee bean extract.
Otteson started Luma Soda as a full-fledged business after this success. Since then, the company has added more flavors to its product lineup, including cranberry and lemon-lime. Presently, Luma Soda is estimated to be worth $750,000. As more people become aware of their delicious and healthy drinks, it keeps expanding steadily.
A brand of carbonated soft drinks called Luma Soda provides a healthier option than regular soda. Luma Soda doesn’t have any added sugar, artificial sweeteners, or preservatives like regular soda does. Instead, it uses organic cane sugar and all-natural ingredients like fruit juice. Coca-Cola, Lemon-Lime, Wild Cherry, and Ginger Ale are the four flavors of Luma Soda.
In addition to being gluten-free, vegan-friendly, and Non-GMO Project verified, each can of Luma Soda has only 25 calories. The company’s dedication to using only natural ingredients has contributed to its success in the market for healthy beverages.
Luma Soda Works
Jim Otteson developed the healthy soda beverage Luma Soda in January 2017. Otteson developed Luma Soda as an alternative to sugary beverages in an effort to replicate the cola-can experience without the use of artificial sweeteners or added sugars.
Only 4 grams of sugar—made up of natural sweeteners like honey and monk fruit—are present in each serving of Luma Soda. It comes in a variety of flavors, including blood orange, cola, cherry, and lemon-lime, and it is free of any dangerous chemicals or preservatives.
In Season 10 of Shark Tank, Luma Soda made an appearance. Without capital, the business struggled to compete in the fierce nonalcoholic beverage market. The company ceased operations in September 2018, and its Facebook account hasn’t been used since. Also unavailable is the Luma Soda website.
Founder of Luma Soda
The creator of Luma Soda is Jim Ottosen. Jim has practiced law for more than 25 years and regularly ingests soda as he prepares for his trial. When Jim discovered that soda had a lot of sugar, preservatives, additives, and hazardous chemicals that are bad for his health, he got concerned about his health and stopped drinking soda.
He gave up Coke and began searching for a low-calorie diet. Even after extensive research, he was unable to identify a trustworthy and healthier soda substitute. Although he discovered some of the items recommended as soda’s healthier alternatives, they didn’t satisfy him.
That is when he made the decision to start Luma Soda, a low-calorie beverage company. He made the decision that the soda he would make would be devoid of damaging ingredients, preservatives, and chemicals.
Luma Soda at Shark Tank
On Shark Tank, Jim Ottosen asked for a $500,000 investment in exchange for a 20% stake in Luma Soda. Jim tells the tale of how he came up with the concept for Luma Soda and what drove him to market it. He also gave the sharks a couple of samples of Luma Soda.
Although some sharks appear to be enjoying the various flavors of Luma Soda, the sharks’ responses to Luma Soda were inconsistent. He was questioned by the sharks regarding his investment in Luma Soda and its sales figures.
Jim responded that he had spent $1.75 million on Luma Soda and had made $180,000 from the company’s overall sales, with just under 10% of customers placing repeat orders. When they saw the sales number, the Sharks appeared apprehensive.
Some sharks provided entrepreneurs with insightful advice on how to market their goods and increase sales. If the show’s guest Rohan Oza makes an investment in Luma Soda, Barbara Corocan will offer her $250,000.
Because he believed Luma Soda was a zero-scale initiative and prefers to work with business owners who can accelerate their business, Rohan declined to invest in Luma Soda. As a result, Barbara and Rohan opted against buying Luma Soda. Jim turned down Mark’s offer because he felt Luma Soda was not the right place for him, so he departed.
Other Sharks declined to invest in Luma Soda because they believed Jim should shut down his company and concentrate on something else because it would not bring in the revenue Jim anticipated. As a result, Luma Soda was unable to come to an agreement or close a transaction on the Shark Tank Show.
Luma Soda After Shark Tank
Jim borrowed against the equity in his home and contributed $1,750,000 to the business. The business does not have any debt, yet each month they spend $15,000 on marketing. The business has $600,000 in inventory and $30,000 in cash on hand, as was revealed in Shark Tank.
In total, $2,500,000 was the value in 2019. Soda Luma Soda made $180,000 in sales in 2019. They have a $600,000 inventory as well as $30,000 in cash on hand.
On Shark Tank, the company was unable to close a deal. But the businessman put his own money into the venture. He borrowed against the value of his home equity and his life insurance policy to invest $1,750,000 in the business.
Despite not receiving a contract on Shark Tank, Luma Soda is still operating and expanding. The business is already selling drink cases in the USA with a few carefully chosen partners, and the product can be purchased online as well.
Natural sweeteners and no hazardous chemicals or preservatives are found in Luma Soda, a healthy soda beverage. It was developed as an alternative to sweet drinks and came in a variety of flavors.
WHAT IS LUMA SODA NET WORTH?
Being a privately held company, Luma Soda does not publicly disclose its exact net worth. Crunchbase reports that the business has raised $750,000 in funding since its start in 2018. This Suggests That The Company May Have A High Value And Growth Potential.
WHAT IS LUMA SODA?
A company called Luma Soda makes a natural, low-sugar soda substitute.
WHERE CAN I BUY LUMA SODA?
You may buy Luma Soda directly from their website or at a few select stores across the country. They are carried by numerous major retailers, such as Whole Foods Market, Sprouts Farmers Market, and Amazon Fresh. Additionally, they provide subscription options for regular deliveries to your door.