Luma Soda Update | Shark Tank Season 10

Jim Otteson came onto Shark Tank and immediately started a pitch for his company, Luma Soda, by admitting that he has always been an addict to diet soda. He believes his company provides a much healthier alternative to diet soda with premium formulas of lemon and cherry colas that only feature 25 calories and a tick of sugar. Let’s see if Jim was able to secure a deal for his company before we shift our focus and get a Luma Soda update.

Shark Tank Luma Soda Update

Luma Soda Update

  • Entrepreneurs:  Jim Otteson
  • Business: Naturally sweet soda
  • Ask: $500,000 for 20% equity
  • Result: No deal
  • Sharks: None

Jim proudly admitted that his company had already generated $180,000 in sales at the time of the pitch for the current calendar year. All of these sales were direct-to-consumer online.

Jim said that his company didn’t have a lot of repeat customers, but received feedback that customers wanted the brand to expand across North America so that it could be purchased in traditional grocery stores and health food stores instead of exclusively online.

One of the apparent problems was that a single 12-pack of Jim’s healthy flavored soda costs $19.99 online. This is much higher than a traditional 12-pack of soda that you would find in a grocery store and the sharks were not happy to hear about the pricing.

The sharks wanted to know if Jim put any of his own money into the business, to which he told them that he put just under $2 million of his own personal money into it.

After hearing the company’s financial numbers and tasting the flavored soda, Lori Greiner simply didn’t like the flavor or the taste and decided to drop out without making an offer. The remaining sharks also dropped out one-by-one until they were all out.

While Jim wasn’t able to secure a deal for his business, let’s see if we can get a Luma Soda update to see how the company has performed since appearing on Season 10 of Shark Tank. Sadly, it turns out that the company ran out of money and was forced to go out of business in 2021.

Unfortunately, it looks like this will be our final Luma Soda update.

You can find the other company updates from Season 10 Episode 19 here:

Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from Shark Tank Season 10.

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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!