Where Is Larq From Shark Tank Today?
Access to clean water — and, for that matter, clean water containers — is a global concern. It's also big business. Justin Wang also knew that when he pitched his company Larq in Season 12 of "Shark Tank," and it showed in the confidence with which he made that pitch. His confidence was well-warranted; the company is still thriving today.
Clean water bottle solutions have been pitched before on "Shark Tank," and the founders have walked away with solid deals. Bottle Bright secured a large investment from Lori Greiner and is still in business to this day, under the auspices of HydraPak. For his part, Wang came not with a water bottle cleaning solution but with a water bottle that self-cleans, meaning consumers could say no to disposable plastic bottles without worrying whether their non-disposable is safe to drink from.
Given this (and given that such a product was bound to be more high-tech), Wang walked onto the "Shark Tank" set and asked for a half-million dollars in return for just 1% equity in Larq. Within seconds, the Sharks' jaws were on the floor.
What happened to Larq on Shark Tank?
After Larq founder Justin Wang asked for $500,000 in exchange for a mere 1% share of the company, the Sharks' collective laughter was unmistakable. But Wang, unfazed, simply kept talking. And one has to admit, the product was impressive. Using rechargeable ultraviolet lights inside the water bottle itself, Larq promised to eliminate 99.9% of germs, bacteria, and mold, both cleaning the water bottle and purifying the water in just 60 seconds.
Still, it was quite the ask. "Just want to be clear I heard you properly," asked Robert Herjavec, "$500,000 for 1%?" This was, according to Kevin O'Leary, the highest valuation ever requested on the show. But Wang had the numbers to back it up. Larq had launched two years prior; in its first year, the company brought in $5 million in sales. In the second year, it brought in more than $9 million.
After hearing that, some of the Sharks wanted a bite. O'Leary was the first to jump in, offering $500,000 for 4%. Lori Greiner offered the same amount in return for 5%, and Herjavec offered half a million for 3%, plus 2% advisory shares. After some back and forth, Greiner and O'Leary agreed to team up, and Wang shook with them on $1 million in return for 4%.
Larq after Shark Tank
The chatter over Larq continued among the Sharks after the episode aired. Daymond John, who mentioned to founder Justin Wang that he already owned two Larq bottles during his pitch, tweeted that it was "the valuation of the CENTURY!!" "Whenever an entrepreneur says 1%, you know their sales must be good," tweeted Barbara Corcoran, who wasn't in the episode.
Premiering in April of 2021, the Larq episode of "Shark Tank" was the first to air after production resumed following the initial months of the COVID-19 pandemic. Justin Wang credits this timing for boosting his product. "Sustainability and wellness were at the top of mind for most people, which is part of the reason why they wanted us on the show," Wang told Forbes in November 2021. "Our themes are more relevant than ever."
Larq had already received $11 million in Series A funding before Wang appeared on "Shark Tank." Nonetheless, he credited the show with a boost for the company's profile, reaching a wider audience. Wang said to Forbes that the company anticipated its revenue to hit $30 million in 2022.
Is Larq still in business?
Though there is no indication about whether Larq reached that impressive number, by any measure, the company is thriving. In 2021, the company launched its second major product, the Larq Pitcher, which applies the same technology as the original Larq water bottle to an at-home pitcher. This puts Larq in direct competition with Brita, which has dominated the at-home water filtration game for some time. Even before the Larq Pitcher had fully launched, they had already pre-sold 20,000 units.
The Larq website offers a variety of accessories to choose from, including new filters and a water bottle travel sleeve. Larq products are also available to purchase through retailers including Nordstrom, Revolve, and Amazon.
Even the Museum of Modern Art's Design Store sells Larq water bottles, which makes sense, given how stylish the bottles aim to be. The Larq Pitcher, meanwhile, is available at upscale home goods retailer Williams-Sonoma. The company also has an active presence on Instagram, with more than 137,000 followers.
What's next for Larq and its founder?
Justin Wang's LinkedIn page still lists him as the founder and CEO of Larq, and the company's website has a picture of him and several others at the top of its "our story" page. Meanwhile, the company's LinkedIn page claims that it only has about 30 employees — quite small for a company that is able to do the business it also claims.
That said, the last review linked on the website is from October of 2022 at the online publication Wallpaper, which was the last in a fairly large flurry of favorable press in the years following Wang's "Shark Tank" appearance. Most interviews with Wang also appear to be before or directly after his episode.
Reviews of the Larq water bottle continue to be positive. Currently, 73% of all Amazon reviews have five stars, with customers leaving glowing comments about the product.