Monday, April 15, 2024

Boost Oxygen After Shark Tank – 2024 Update

Boost Oxygen Before Shark Tank

Boost Oxygen was founded in 2007 by CEO Rob Neuner. The idea for Boost Oxygen came to Neuner during times when he was traveling. Neuner would go on business trips to Czech Republic quite often, and he’d always find himself feeling exhausted and jet-lagged. This led him to try a bottled oxygen that he’d found in Europe, while working as a beer importer. Given that this product worked quite well for Neuner, he continued using it during his triathlons and times and travel. Shortly after, he found himself on a search to find businesses that sell bottled oxygen in America, only to find out that they can only be found in Europe.
Neuner ended up traveling to America, where he met his co-founder Mike Grice. Although bottled oxygen is not a medical alternative, they knew it could help many people, such as athletes and people who travel often. The entrepreneur’s teamed up to create the next top-selling bottled oxygen brand, one that could be easily accessible to America’s. Thus creating Boost Oxygen.
Boost Oxygen is a supplemental oxygen that is used for respiratory support. This product is made up of 95% pure oxygen and is much healthier than coffee or energy drinks. Boost Oxygen is a great way to regain energy and alertness, as well as improve one’s reaction time, memory, and cognitive performances. In addition to that, Boost Oxygen can provide improved metabolic health. For example, if an athlete is running a triathlon, their body is burning off oxygen, which will lead them to feel drained and slowed down. One to two inhalations of Boost Oxygen can effortlessly give their metabolism the boost it needs to continue functioning properly throughout running.
Not long after Neuner and Grice launched the company, Boost Oxygen was already named a top-seller and could be seen throughout CVS stores, as well as on Amazon and the company website. Boost Oxygen Picture 1
Already, Boost Oxygen has become a successful company with a wide range of happy consumers. In fact, shortly after the launch, Boost Oxygen was signed onto a deal with Major League Lacrosse, making it a well-known and popular product in the athletic market. Although Neuner and Grice had succeeded with Boost Oxygen thus far, they had goals to sign deals with more organizations within the sports industry. Goals in which a shark could help them best.

Boost Oxygen on Shark Tank

Rob Neuner and Mike Grice enter the Shark Tank hoping to get an offer of $1 million for a 5% equity in their company, Boost Oxygen. The entrepreneurs start pitching their product to the sharks, explaining that they made $6.4 million in sales and $1.5 million in profit within a year. So far, all of the sharks seem to like what they’re hearing; however, it’s clear that they are having some concerns about the company.
Boost Oxygen Picture 3 The majority of the sharks begin dropping out due to their concerns of the market education needed to increase the sales of Boost Oxygen. Given that, guest shark Rohan Ozo, speaks up to explain that market education is essential to increase the company’s sales, and it would take a lot of it to get their sales up further. Rohan drops out as well. At this point, Boost Oxygen was about to leave the stage with no deal in place; however, one shark saw the company’s potential and bounced back with an offer.
Shark, Kevin O’Leary, comes back in with an offer for Neuner and Grice; he offers them the $1 million with a 7.5% equity in Boost Oxygen. He made it clear that this deal would also come with a 9% interest rate for the upcoming 36 months or longer. For the most part, entrepreneurs are comfortable with the offer being made. They don’t have a problem with giving Kevin the 7.5% equity; however, they don’t particularly like that this deal would come with debt. Given that, the entrepreneurs tried to counteroffer with Kevin, bringing the agreed upon deal to $1 million with a 6.5% equity in Boost Oxygen and a 7.5% interest rate. Neuner and Grice accepted Kevin’s offer.

Boost Oxygen Now in 2024 – The After Shark Tank Update

Rob Neuner and Mike Grice appeared on Shark Tank in 2019 and received a deal with Kevin for $1 million with a 6.5% equity in Boost Oxygen and a 7.5% interest rate. After their success on the show, the deal between the entrepreneurs and Kevin had closed. Kevin continues to support Boost Oxygen by promoting the business online. Since the show aired, Boost Oxygen has seen an increase to up to $15,000 in sales, with a good $20 million in revenue.
Boost Oxygen Picture 6 Boost Oxygen had the opportunity to appear in a Shark Tank update episode, where they announced that the company has expanded Walgreens and Kroger stores, along with over 8,000 stores across the country. They’ve expanded into over 30 chain businesses. Additionally, Boost Oxygen can now be purchased at Bass Pro Shops and Dicks Sporting Goods, as well as the company website and Amazon. During their update episode, Kevin even announced that Boost Oxygen could become huge in the coming years.
As of 2024, Boost Oxygen is a highly successful company, which has been considered the best non-medical supplemental oxygen in the United States. Neuner and Grice also just introduced new flavors of the product; this change has created positive reactions from the vast majority of their customers, including in shopping malls. The business continues to grow substantially, as well as giving back to the community. For instance, when the pandemic hit, Boost Oxygen decided to start donating containers of the product to local food banks around Bridgeport, CT.
Melissa Buechler
Melissa Buechler
Graduated from Washington Virtual Academies and have been a freelance writer for about 2 years now. In my spare time, I enjoy spending time with my pets, gaming, etc.
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