Here's What Happened To Luma Soda After Shark Tank

Unless you possess the genius ability to create viral content in an instant, selling a new product usually isn't as easy as simply publishing a social media advertisement. To achieve worthwhile commercial returns for a new business, you need a credible business plan, impactive advertising, plenty of easily deployable capital, and more, according to the U.S. Small Business Administration.

That's where the wealthy investors on "Shark Tank" come in. Members of the public appear on the TV show to pitch their products to self-made business titans and offer them a stake in their company in return for financial investments (via ABC). The majority of people who secure backing from the tycoons still have operating businesses, gaining noticeable growth and profits as a result of the show, according to Inc.

However, not all of the products and companies featured on the popular program become mainstream. One of these is Luma Soda, which appeared in Season 10 of "Shark Tank" (via Shark Tank Tales). So, did the business rise like the tide or crash like a wave?

Luma Soda failed to float after Shark Tank

Jim Otteson created Luma Soda in January 2017, Heavy reports, to "reverse the negative effects giant soda corporations have had on this world." The beverages had zero sugar — their sweet taste was from a mixture of monk fruit and honey — and were also without chemical additives, artificial colors, carbohydrates, or preservatives. Otteson sold 12-packs of four flavors — cola, cherry, blood orange, and lemon lime — for just $19.99.

Otteson requested a $500,000 investment for a 20% stake in Luma Soda when he appeared on "Shark Tank," Shark Tank Tales details. However, his ambitions took a dive when he failed to win any financial backing (via YouTube). Despite a desire to shake up the diet soda industry (via Heavy), Otteson's soda company is out of business, Shark Tank Products reports. Its Facebook account has been inactive since September 2018, and the Luma Soda website is defunct.

Perhaps it's not surprising that Luma Soda failed to succeed in the cutthroat nonalcoholic beverage sector without financing from "Shark Tank" industry heavyweights. After all, Shark Tank Tales notes that "the Sharks have mentioned numerous times [that] the beverage industry is one of the most competitive and toughest to break into." It would have gone against multiple brand-name soda giants including Coca-Cola, Nestlé, and PepsiCo, Statista notes.