Luma Soda Net Worth Shark Tank Update 2025

Jim Otteson had a big idea when he appeared on Shark Tank. Making a healthier soda was his goal. Jim had always enjoyed diet soda but he was looking for something better. Luma Soda was his product. It’s a soda with less sugar and calories. Cherry cola and lemon cola are the two flavors of the soda. Each serving of Luma Soda only contains 25 calories. It contains a trace amount of sugar as well. Jim wanted to provide a soda that people could drink with confidence. 

Only a small number of people purchased his product online. Jim was requesting $500,000 from the Sharks in exchange for 20% of his business. He needed assistance growing the company. To encourage more people to try it he also wanted to make it less expensive. Will the entrepreneur get a deal on Shark Tank? Check out the Luma Soda update to find out!

Luma Soda Net Worth Shark Tank Update 2025

Jim Otteson asked for a $500,000 investment in exchange for 20% equity in his company. This meant he valued his company at $2.5 million. He did not make a deal with any of the Sharks, so the valuation remained unchanged. After the show aired, Luma Soda saw a big increase in website traffic, sales, and social media exposure. However, due to financial challenges and a lack of sales, the company went bankrupt in 2021. As of today, Luma Soda is no longer in operation, and its current net worth is $0.

In our Luma Soda update research, Jim’s company didn’t do well after the pitch. Luma Soda was unable to expand. The company went bankrupt in 2021. The business was unable to continue. There weren’t enough people interested in purchasing the soda. They were unable to enter larger stores. 

Jim’s business was unable to survive due to a lack of sales. Luma Soda unfortunately went out of business. The company has ceased operations as of 2024. Luma Soda’s story ends here. Jim was unable to realize his dream. His favorite soda simply didn’t sell well enough.

In terms of a Luma Soda update, Luma Soda did not receive a Shark Tank deal. Jim requested $500,000 in exchange for 20% ownership. He hoped the Sharks would assist him. However, his product did not sit well with the Sharks. The price didn’t seem appropriate to them. The cost of the soda was prohibitive. 

The price for a 12-pack was $19.99. The Sharks didn’t believe that soda would fetch such a high price. The soda’s flavor didn’t appeal to Lori Greiner. She backed out of the agreement. The other Sharks left as well. It was their belief that Luma Soda would fail. Jim didn’t get the bargain he was hoping for. This was a major blow to his company.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Barbara Corcoran	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Rohan Oza	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A

Luma Soda Shark Tank pitch

Jim Otteson’s passion for soda inspired him to create Luma Soda. He had spent many years drinking diet soda. However, he desired something more healthful. Regular sodas contain a lot of sugar and chemicals that he didn’t want. Jim thought there was a more efficient method of producing soda. He aimed to provide a sweet soda free of all the negative ingredients. Jim worked on his soda recipes for a long time. His goal was to make a beverage that was both tasty and nutritious.

Finding the ideal formula was Jim’s challenge in the early days of the company. Using natural ingredients was his goal. He struggled to make the soda taste good while using less sugar and calories. He had to try a lot of different flavors before he was satisfied. Getting people to purchase the product was another significant obstacle. Jim had to sell it online to customers directly. Getting consumers to pay the hefty price for the soda was difficult.

Jim had financial difficulties as well. He invested nearly $2 million of his personal funds in the company. He hoped it would be successful. But his expenses were greater than his sales. To grow, he knew he needed assistance.

He went to Shark Tank for that reason. He sought an investor who could assist him in building his brand. Jim desired to enter large supermarkets and health food stores. But his product was only available online at the time. He desired to enter stores in order to expand his clientele.

Jim entered the Shark Tank and presented his idea. He gave a brief introduction to Luma Soda. Luma Soda was a healthier soda Jim clarified. It was lower in sugar and calories. He was thrilled with the item. Jim mentioned that there were two varieties of his soda: cherry cola and lemon. He added that the soda was offered for sale online. Jim’s sales for the year were already $180,000.

This made him proud. He believed that the product was doing well. Jim requested $500,000 from the Sharks in exchange for 20% of the business.

Despite their interest, the Sharks had reservations. They were curious about the cost. According to Jim a 12-pack costs $19.99. This was far more costly than ordinary sodas. The Sharks didn’t believe that soda would fetch such a high price. They were worried about the taste as well. The taste didn’t appeal to Lori Greiner. She said the soda didn’t taste good. This was a major issue for Jim. The product wouldn’t sell if it didn’t taste good.

Many questions were posed by the Sharks. They were curious about Jim’s financial investment in the company. Jim informed them that he invested nearly $2 million of his personal funds in Luma Soda. This caught the Sharks off guard. They enquired as to Jim’s intentions regarding the product’s distribution. Jim expressed his desire to grow the company. He desired his soda to be available in supermarkets. The brand would expand as a result.

However, the Sharks had concerns regarding the product’s cost. Luma Soda costs $19.99 for a 12-pack. This was significantly more than ordinary sodas. The Sharks didn’t anticipate that much money would be paid. They also wanted to know whether Jim had any loyal clients. Jim acknowledged that he didn’t have many loyal clients. This was a serious issue.

It would be difficult to turn a profit without recurring business. The business model was another issue that worried the Sharks. Jim only offered the product for sale online. His reach was thus constrained. He needed assistance in order to grow.

Jim’s capacity to expand the company was another issue that worried the Sharks. The product wasn’t ready for the large market but they believed it had potential. Luma Soda’s ability to compete with larger soda companies was uncertain. Jim had lofty goals for the company. However, the Sharks were not persuaded. They didn’t believe it was a wise financial decision.

The Sharks were unimpressed after hearing Jim’s pitch. The first person to leave was Lori Greiner. The soda’s flavour didn’t appeal to her. She didn’t believe it would be a hit. The other Sharks came next. The price didn’t seem appropriate to them. They believed that not enough people would be willing to pay the high cost. Additionally, the Sharks believed that there weren’t enough repeat customers for the good in question. They feared Jim wouldn’t be able to expand the company.

Jim attempted to persuade them that the Sharks did not think the product was viable. They didn’t believe it was a wise financial decision. Jim didn’t get the bargain he was hoping for. He left Shark Tank without receiving any offers. This was a major blow to Jim. But he hoped he could still grow the business on his own.

What Went With Luma Soda on Shark Tank?

It was because the Sharks were worried that Luma Soda had not received a deal. The cost was the first issue. Luma Soda costs $19.99 for a 12-pack. This was significantly more than ordinary sodas. The Sharks didn’t believe that soda would fetch such a high price. The taste was the second issue. The soda’s flavor didn’t appeal to Lori Greiner. She said it didn’t taste good.

The absence of recurring business was the third issue. Jim acknowledged that one-time customers accounted for the majority of his sales. The Sharks were quite concerned about this. Long-term profitability for the business would be impossible without recurring business.

The fact that Jim was only selling the product online presented another issue. The Sharks were curious about his strategy for entering stores. Jim dreamed of getting his soda sold in supermarkets. However, the Sharks didn’t believe it was feasible. Jim was viewed as incapable of competing with larger soda companies. The Sharks chose to back out of the deal due to all of these problems. They did not believe Luma Soda was a wise purchase.

Product Availability

Luma Soda was a naturally sweet soda that contained very little sugar and only 25 calories. Lemon and cherry cola were the two flavors available. The product was offered for sale on the business’s website. Jim also wanted Luma Soda to be sold in supermarkets and health food stores. However, many customers found it difficult to purchase due to the high cost.

Luma Soda costs $19.99 for a 12-pack. Compared to other soda brands, this one was significantly more expensive. Many customers disagreed with Jim’s assessment that the premium formula was worth the cost.

Luma Soda could only be purchased online. At the time of the pitch, it wasn’t available for purchase in stores. Jim wanted to open more stores in North America but he was unable to do so before the business failed.

Conclusion

Although Luma Soda had ambitious targets the business failed to make it. Jim Otteson attempted to expand his company after his Shark Tank appearance but was unsuccessful. The business was unable to overcome the high cost and low level of customer loyalty. Luma Soda closed its doors in 2021. In the crowded soda market, the company couldn’t compete despite its early sales. Regretfully Luma Soda is no longer in operation.