Larq Net Worth 2024, After Shark Tank Funding Revenue Sales Owner

LARQ is an award-winning water purifying company, it was founded by Justin Wang with his co-founder Robert C. Walker in July 2017. This company primarily focuses on the water bottle segment and uses PureVis technology which has the ability to neutralize up to 99% of bacteria. As of 2024, LARQ’s estimated net worth is $34.06 million.

In this post, you can also know about Larq’s Shart Tank funding, investors, company value, and other important details.

LARQ Net Worth

San Francisco Bay Area-based water purifying company LARQ makes money by selling self-cleaning water bottles and pitchers, bottle prices ranging from $35 to $99 and pitcher selling price is $139. They also offer a range of accessories for bottles and pitchers, such as bottle filter caps, caps, USB cables, filters, etc.

American award-winning company LARQ’s estimated net worth is $35.06 million including goodwill, assets, patents, etc.

Here’s Larq’s revenue…

• In 2019, they sold 5.5 million then within twelve months they sold 9 million.
• At the beginning of 2020, LARQ raised 6.7 million at a $31.7 million valuation.

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Larq Shark Tank Funding

Larq Shark Tank Pitch, Offer, and Video

Justin Wang pitched the LARQ Bottle, a self-cleaning water bottle, on Shark Tank. Justin asks for $500,000 for 1% of his company, LARQ.

Justin explained the problem with reusable water bottles. Many reusable bottles have a funky smell due to bacteria, and these bottles are often dirtier than dog bowls and toilet seats. This is why people turn to single-use plastic water bottles, which are bad for both the environment and one’s health.

To solve this problem, Justin invented the LARQ Bottle. This bottle is the world’s first self-cleaning water bottle that purifies water on the go. With the press of a button, the LARQ Bottle’s patented UV-C LED technology eradicates 99.99% of harmful odor-causing bacteria, viruses, and mold in just 60 seconds.

After Justin finished his pitch, Robert Herjavec wanted to know about the market opportunity…

Justin explained that it’s a huge market worth $300 billion worldwide, of which the reusable market is only 7%, and it’s growing.

Then Lori Greiner asked him to explain how it works.

Justin explained – This is actually an optical system that’s designed to reflect the UV light inside so simply you press this button the UV light turns on my co-founder is a Ph.D. in physics from Caltech he’s engineered this to bounce to optical light throughout the bottle.

LARQ water bottle has two modes for purifying and cleaning, normal mode takes 60 seconds and venture mode takes three minutes. Its water is equivalent to 20 minutes of boiling water.

After explaining the market size, sales, and valuation, Kevin O’Leary was the first who offered $500K for 4% at a $12.5 million valuation, Lori Greiner offered $500K for 5% at a $10 million valuation and Robert Herjavec offered $500K for 3% plus 2% advisory shares at a $16.7 million valuation.

Justin countered $1.5 million, 500K each, for 4.5% plus 1% advisory shares at a $33 million valuation. During the negotiation, Robert oped out, Kevin and Lori countered with an offer of $1 million, $500K each, for 4% and Justin accepted.

Larq After Shark Tank Update

After Shark Tank, LARQ’s sales skyrocketed, according to Daymond John they sold $30 million in 2020-22. After getting global recognition by appearing on the Shark Tank TV show, LARQ has experienced a significant boost in sales and followers on social media.

They also increased their Pitcher selling price to $148 which they were selling at $118.40 on pre-order before shark tank.

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