|SEASON 10 EPISODE 19|
|Pitch||healthy sodas made from natural sugars|
|Asked For||$500,000 for 20%|
|Status||Out of Business|
What is Luma Soda?
Luma Soda is a line of premium sodas sweetened with honey and naturally made monk-fruit juice – making them a healthier alternative to a typical soft drink with added sugars. Luma Soda offers a variety of delicious flavors and each 12 ounce can contains only 25 calories and 3-4 grams of sugar.
Who Owns Luma Soda?
Luma Soda was founded by Jim Otteson in 2017. Otteson holds a Bachelor’s degree in Microbiology from Brigham Young University and also attended law school at Yale University from 1988-1991, where worked as a Judicial Clerk for the Idaho Supreme Court until 1992. He then worked as a Partner for multiple law firms until founding Luma Soda – remaining the CEO until 2020.
When Otteson would prepare for trials while working as a trial attorney, he had the habit of drinking a lot of diet soda.
After discovering the harmful additives and chemicals that linger in diet soda, he began looking for a healthier option. He didn’t like what he found, and at that moment, he became an entrepreneur – taking it upon himself to create what he was looking for.
He quit his job as an attorney and turned his focus to developing a healthy soda drink. After mastering his recipe, Otteson took out a home equity loan and risked it all – with great success. He managed to start selling Luma Soda in stores across the country as well as on Amazon.
Luma Soda Shark Tank Update
Is Luma Soda Still in Business?
Although a few units remain available on Amazon, it appears Luma Soda is out of business. The Luma Soda website is no longer active and it’s social media pages haven’t been updated since 2018.
Its an unfortunate ending for a much needed product. As the Sharks have mentioned numerous times, the beverage industry is one of the most competitive and toughest to break into. Without the assistance of an angel investor, it’s likely Jim had trouble finding his place in the market.
Fortunately for consumers interested in a healthy carbonated beverage, there is Poppi, a sparkling Prebiotic soda made with Apple Cider Vinegar.
In Season 10 Episode 8 of Shark Tank, Poppi struck a deal with guest Shark, Rohan Oza, and has since taken the beverage industry by storm. Read more about Poppi’s story or visit the Poppi store on Amazon to learn more.