There is a company called Boost Oxygen that sells oxygen bottles that contain 95% pure oxygen. Due to oxygen’s ubiquitous presence, many people think Boost Oxygen is a fraudulent business. However, the air is often polluted during many outdoor activities. This was something Kevin O’Leary was aware of, so he struck a deal with the company’s founders.
Boost Oxygen Net Worth
A valuation of $15 million is projected for Boost Oxygen by 2022.
Founder of Boost Oxygen
This company was founded in 2007 by Rob Neuner when he noticed that bottled oxygen was in demand in Europe.
Medical oxygen cannot be substituted with Boost Oxygen. It is intended for use in recreational activities and has a purity rate of 95 percent, in contrast to medical oxygen, which has a purity rate of 99 percent.
A variety of “aromatherapy tastes” are available, including menthol, peppermint, and pink grapefruit. Across the country, you can find it at CVS shops and on Amazon.
Those pocket-sized cans are $7.99, which is about 40 inhalations. It costs $9.99 for a medium can (roughly 100 inhales), and $14.99 for a large can (around 200 inhales). Purchasing in bulk can also save you money.
Major League Lacrosse just signed Boost to a contract. It has a good reputation in the health and fitness industry, which is why triathletes often use it. A lot of athletes use this product, like Olympic swimmer Kyle Smith.
It is estimated that one canister of boost will last for 30 minutes. There is 0.5 milliliters (mL) of air in every container, which has the same volume as a liter of room air is at sea level pressure.
Shark Tank Appearance
In 2019, Rob and Mike appeared on the popular television show Shark Tank. At this point, they were already pretty successful, but they still felt that they could do more. To pitch their business, they offered 5% equity for $1 million.
In spite of their unique product, the Sharks were captivated by their numbers. Others, however, were concerned that potential customers would have a hard time appreciating the benefits of bottled oxygen.
It was Mr. Wonderful, Kevin O’Leary, who took the chance alone. His offer was to provide $1 million with 9% interest in exchange for 7.5% equity. A counteroffer was made with a loan of $1 million, interest of 7.5%, and equity of 6.25%. The deal was accepted, and then history began to unfold!
Boost Oxygen as it stands now
Following their appearance on Shark Tank, Boost Oxygen’s growth and sales have exceeded the founders’ expectations. Currently, the company’s products are available in more than 30 states as well as many retailers like CVS and Bass Pro Shops.
They’ve made over $15 million since then, expanding from 4000 to over 8000 stores, which include Walmart and Kroger. The success they’ve achieved is undeniable.