LARQ’s Valuation after Failed Deal on Shark Tank

LARQ’s net worth is $28 million. After Shark Tank, LARQ Bottle sales increased initially, but then dropped.

Lori Greiner and Kevin O’Leary offered $1 million on the show, but the deal didn’t happen because it failed due diligence.

Revenues

LARQ is a water bottle that cleans itself. It had one of the highest valuations ever on Shark Tank. When they pitched it, they said the company would make $14 million in sales that year.

LARQ hit that sales goal, mostly because of Shark Tank, but since then, sales have dropped a lot.

LARQ’s sales revenues have dropped from $14 million a year to just $6 million now. The drop in sales has affected LARQ’s profitability, and the company is left with little to no cash in the bank.

What exactly is LARQ?

The LARQ Bottle made a splash on the hit TV show Shark Tank with its innovative approach to water purification.

LARQ’s founder started his presentation on Shark Tank by asking for $500,000 for a 1% share, valuing his company at a whopping $50 million.

Such a ridiculous valuation has attracted laughter from the Shark Tank judges, including Mark Cuban, Lori, Kevin, and Daymond.

The UV-C LED technology integrated into the LARQ Bottle is designed to neutralize up to 99.9999% of harmful bacteria and 99.99% of viruses.

Based in Foster City, California, Larq launched in 2018 with its original self-cleaning bottles after a record-breaking Kickstarter campaign. It raised $1.4 million in under 30 days. 

In September 2020, Larq raised $11 million in Series A funding from Seventure and DCM, allowing it to develop the pitcher’s filter and UV-C LED technology.

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