Where Is Luma Soda From Shark Tank Today?
On "Shark Tank," founder Jim Otteson explained that he started making Luma Soda after struggling with drinking diet soda, often consuming a dozen or more 12-ounce cans each day. He created Luma as a substitute for the sugary drinks, hoping to achieve the same satisfaction of a can of cola without the added sugars or artificial sweeteners. He told the Sharks that even juices and sports drinks contained high amounts of sugar.
Otteson explained on the show that Luma sodas only contained four grams of sugar, derived from all-natural sources: honey and monk fruit. Monk fruit can act as an anti-inflammatory and contains no calories, fat, or carbs; its sweetness comes from mogroside compounds.
At the time of the "Shark Tank" appearance, Luma Soda offered four flavors: cola, cherry cola, blood orange, and lemon-lime. Otteson shared that his company's sales had been done completely online, but he hoped to expand to selling his products in physical stores.
Jim Otteson wanted to expand to retail stores
The Sharks sipped samples of Luma Soda in Season 10, Episode 19 of "Shark Tank." Jim Otteson sought a $500,000 investment in exchange for one-fifth of the company. After Otteson revealed his sales, guest Shark Rohan Oza questioned why Otteson would build up a huge supply of inventory. Otteson shared he'd bulked up in preparation for retail sales, which didn't pan out. He did reveal he'd been in the process of negotiating for retail sales and hoped to distribute his sodas soon.
Lori Greiner was the first Shark out, saying that she didn't enjoy the Luma flavors. Oza shared that he liked two of the flavors and liked the concept, but he wanted Otteson to perfect the cola flavor before investing. However, he thought the business would be too easy to replicate. Barbara Corcoran tried to jump in and convince Oza to invest, praising Otteson's work ethic. Corcoran made an offer of $250,000 but wanted Oza to go in with her. Unfortunately, Oza went out. Corcoran wouldn't invest without Oza as her partner, so she went out as well.
Kevin O'Leary advised Otteson to call the company a loss and stop sales altogether; he was out as well. Mark Cuban, the last Shark standing, told Otteson that he needed to find a path forward. He advised him to move his remaining inventory before moving forward with the business. He said the company wasn't a good fit for him, so he was out.
The company couldn't continue selling sodas
Ultimately, Jim Otteson left "Shark Tank" without an investment for Luma Soda. Otteson said in his exit interview from the show that "getting an investment from a Shark would have made all the difference in the world for our company." He was concerned about the future of Luma Soda, but said "we're going to keep fighting."
Unfortunately, Luma Soda doesn't appear to be selling its drinks anymore. The company's Facebook appears to have been abandoned, and the last post was made in September 2018. Its website has also been deleted. Though the Amazon storefront is still up, none of Luma Soda's products are available for purchase.
Otteson's LinkedIn profile states that he was no longer Luma Soda's CEO as of January 2019, indicating a definitive end for the company. Facebook user Cortney Forster wrote on Luma Soda's last post, "Please update when it will be back in stock! My family loves this and we miss it." Others speculated that the cost of a 12-pack may have been a deterrent for customers. "The big problem is the price of healthy," commented Kathy Kern Buckley. "This is beyond most people. I can't afford or will I ever buy a 12 pack ... for 20 dollars."