Did Boost Oxygen secure an investment on Shark Tank Season 11? Yes, Boost Oxygen successfully secured a deal on Shark Tank Season 11. They received a $1,000,000 loan at 7.5% interest along with 6.25% equity from Kevin O’Leary.
Summary
- Boost Oxygen, a company offering portable canned oxygen, appeared on Shark Tank Season 11.
- They sought a $1,000,000 investment in exchange for 5% equity.
- Kevin O’Leary offered them a $1,000,000 loan at 7.5% interest plus 6.25% equity, which they accepted.
- The company likely aimed to use the investment to expand its production and marketing efforts.
- Boost Oxygen’s appearance on Shark Tank likely boosted its brand recognition and sales.
Boost Oxygen Shark Tank Update | Shark Tank Season 11
What is Boost Oxygen?
Boost Oxygen is a brand of portable, 95% pure supplemental oxygen available in lightweight, recyclable aluminum canisters.
Designed for non-medical use, it aims to provide a quick and convenient way to enhance oxygen intake in various situations, such as during exercise, high altitude activities, or simply for general well-being.
The concept of canned oxygen
Canned oxygen has gained popularity as a readily accessible source of supplemental oxygen. It offers a convenient alternative to traditional oxygen tanks, which can be bulky and cumbersome.
These portable canisters provide a measured dose of oxygen, allowing users to breathe in enriched air whenever needed.
Boost Oxygen Shark Tank
Shark Tank is a highly acclaimed reality TV show where aspiring entrepreneurs pitch their business ideas to a panel of successful investors, known as “sharks.”
The sharks evaluate the potential of each venture and decide whether to invest their own money in exchange for equity in the company.
The show has become a platform for launching numerous successful businesses, providing valuable exposure and funding opportunities.
Boost Oxygen’s Shark Tank Pitch
1. The Pitch and initial ask
| Entrepreneurs | Rob Neuner, Mike Grice |
|---|---|
| Business | Boost Oxygen |
| Ask | $1,000,000 for 5% |
| Deal | $1,000,000 loan at 7.5% interest + 6.25% equity |
| Sharks | Kevin O’Leary |
| Season | 11 |
| Original Air Date | February 23, 2020 |
| Website | Boost Oxygen |
| Key Points of Pitch |
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| Why Sharks Accepted |
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2. The founders’ background and vision
Rob Neuner and Mike Grice, the founders of Boost Oxygen, presented their product with passion and conviction.
Their personal experiences with the benefits of supplemental oxygen fueled their desire to make it easily accessible to everyone.
They envisioned a world where people could enhance their performance, recovery, and overall well-being with a simple breath of Boost Oxygen.
3. The product demonstration
During their pitch, the founders demonstrated the simplicity and effectiveness of Boost Oxygen. They showcased the lightweight and portable canisters, highlighting their ease of use.
They also emphasized the purity of the oxygen and its potential benefits for various activities and situations.
The Sharks’ Reactions
1. Initial impressions and questions
The sharks were intrigued by the concept of portable canned oxygen, recognizing its potential appeal for athletes and individuals seeking a quick energy boost.
They inquired about the product’s safety, efficacy, and target market. Some sharks also expressed curiosity about the science behind supplemental oxygen and its perceived benefits.
2. Concerns about market size and competition
While acknowledging the product’s uniqueness, several sharks raised concerns about the market size and potential competition.
They questioned whether there was a substantial enough demand for canned oxygen to sustain a profitable business.
They also pointed out the existence of other oxygen delivery methods, such as oxygen bars and concentrators, which could pose a challenge.
3. Kevin O’Leary’s interest and offer
Kevin O’Leary, known for his shrewd business acumen, expressed interest in Boost Oxygen’s potential. He was impressed by the company’s existing sales figures and recognized the growing trend of health and wellness consciousness.
However, instead of offering the equity-based investment the founders sought, he proposed a loan deal with a lower equity stake.
O’Leary believed this structure would provide the company with the necessary capital while allowing the founders to retain more control.
The Deal
1. The final terms
After careful consideration, Boost Oxygen accepted Kevin O’Leary’s offer of a $1,000,000 loan at 7.5% interest, coupled with a 6.25% equity stake in the company.
This deal provided them with the much-needed capital to fuel their growth while minimizing dilution of their ownership.
2. Why Boost Oxygen accepted the deal
The founders recognized the value of O’Leary’s expertise and network. They also appreciated the loan structure, which offered them more financial flexibility compared to a traditional equity investment.
The deal enabled them to retain a larger share of their company while still securing the funds necessary to expand their operations.
3. The implications for the company
The Shark Tank deal proved to be a turning point for Boost Oxygen. The infusion of capital allowed them to ramp up production, expand their distribution network, and invest in marketing efforts.
The exposure gained from appearing on the show significantly boosted brand awareness and credibility, leading to increased sales and market penetration.
Boost Oxygen Update
1. How the company has grown since Shark Tank
Since their successful appearance on Shark Tank, Boost Oxygen has experienced remarkable growth.
The company has leveraged the investment and exposure gained from the show to propel its expansion and solidify its position in the market.
2. Expansion of product line and distribution
Boost Oxygen has expanded its product line beyond the original canned oxygen offerings. They now offer various sizes and flavors to cater to different needs and preferences.
Additionally, they have broadened their distribution channels, making their products available in major retail stores, online platforms, and through partnerships with fitness centers and sports organizations.
3. Impact of Shark Tank on brand recognition and sales
The Shark Tank effect has been undeniable for Boost Oxygen. The show provided them with a national platform to showcase their product and its benefits.
This exposure led to a significant increase in brand recognition and consumer trust. Consequently, sales have surged, allowing the company to reach a wider audience and achieve greater market penetration.
FAQs
What are the benefits of using Boost Oxygen?
Boost Oxygen can provide a quick and convenient boost of oxygen, which may help:
- Enhance athletic performance and recovery
- Improve mental clarity and focus
- Reduce fatigue and shortness of breath
- Alleviate altitude sickness symptoms
- Support general well-being
Is Boost Oxygen safe to use?
Yes, Boost Oxygen is generally safe for non-medical use when used as directed. It is 95% pure oxygen, which is a higher concentration than the ambient air we breathe (around 21% oxygen). However, it is essential to consult a healthcare professional if you have any underlying health conditions or concerns before using supplemental oxygen.
Where can I purchase Boost Oxygen?
Boost Oxygen is widely available for purchase:
- Online through their official website and major e-commerce platforms like Amazon.
- In retail stores such as sporting goods stores, pharmacies, and health food stores.
- At select fitness centers, gyms, and sporting events.
What are the different flavors of Boost Oxygen available?
Boost Oxygen offers a variety of flavors to enhance the experience, including:
- Natural
- Peppermint
- Menthol-Eucalyptus
- Pink Grapefruit
- Berry
Can Boost Oxygen be used for medical purposes?
No, Boost Oxygen is not intended for medical use or as a substitute for prescribed oxygen therapy. It is designed for recreational and supplemental use only. If you require medical oxygen, please consult your doctor.
The Bottom Line
Boost Oxygen’s journey from a Shark Tank pitch to a thriving business showcases the power of innovation, perseverance, and strategic partnerships. Their success story serves as an inspiration for aspiring entrepreneurs, highlighting the importance of identifying market needs, creating a compelling product, and seizing opportunities for growth. As the demand for portable oxygen solutions continues to rise, Boost Oxygen is well-positioned to lead the way, empowering individuals to breathe easier and achieve their full potential.
