LARQ’s Net Worth after Failed Deal on Shark Tank

LARQ’s net worth is $28 million USD. Since airing on Shark Tank, LARQ Bottle has seen an initial sales bump but thereafter a decline in revenues. Even though Lori Grenier and Kevin O’Leary agreed to invest $1 million in the Shark Tank episode, the deal never went through due to failures in due diligence.

LARQ’s Balance Sheet

Net Worth	$28 Million
Annual Sales	$6 Million
Profits	$20,000
Unsold Stock	15,000 bottles
Lifetime Sales	$41 Million
Total Capital Raised	$25 Million
Cash in Bank	$2 Million

Revenues

LARQ is a self-cleaning water bottle, whose valuation was one of the highest ever quoted on Shark Tank. When LARQ bottle was pitched on Shark Tank, the company was projected to make $14 million in sales during that year.

Even though LARQ has reached the sales target for that year, predominantly due to exposure on Shark Tank, sales have slumped significantly since then.

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

Such 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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