LavaBox Portable Campfire Shark Tank Episode 18 Update & Net Worth

LavaBox Portable Campfire Shark Tank Episode 18 Update & Net Worth

LavaBox, a game-changing portable campfire solution, made its debut on Shark Tank during Season 14, Episode 18. Founded by Josh Thurmond in response to the wildfire bans in Colorado, LavaBox offers a safer, cleaner, and more sustainable alternative to traditional campfires. Josh entered the tank seeking $200,000 for 10% equity, valuing his company at $2 million.

Impressed by the product’s potential and profitability, Lori Greiner secured a deal with Josh Thurmond, offering $200,000 for 12.5% equity with a $0.75 royalty per unit until the investment is recouped. As of July 2023, LavaBox is thriving with an estimated net worth of $1.6 million.

What Is LavaBox? How Does It Work?

LavaBox is a patent-pending portable campfire designed in the shape of an ammo box, offering a safer and more controlled way to enjoy a campfire during outdoor activities. The product was born out of necessity when wildfires led to bans on traditional campfires in Colorado.

LavaBox is made using high-quality materials, including a Can Box, Burt Tank, Hose & Regulator, and optional Hades Stones for grilling.

The portable campfire uses propane, eliminating the need for wood, which reduces the risk of wildfires and the environmental impact associated with traditional campfires. LavaBox is available in different models, such as the Tabletop Vol-CAN-no for $199, the Tacana Twosome for $299, and the Krakatoa FireBreather for $349.

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LavaBox Shark Tank Episode 18 Season 14: What Happened at Shark Tank Pitch?

In Season 14, Episode 18 of Shark Tank, Josh Thurmond presented LavaBox to the Sharks, seeking $200,000 for 10% equity at a $2 million valuation. He explained that LavaBox is a safer and more sustainable alternative to traditional campfires, designed to prevent wildfires while offering the convenience of a portable, easy-to-use campfire solution.

The Sharks were impressed with the product’s design, functionality, and the impressive sales numbers that Josh had already achieved. LavaBox had generated $610,000 in sales within its first 18 months, with a profit margin of 50%. Josh projected that the company would reach $1.2 million in sales by the end of 2022.

Kevin O’Leary and Daymond John made offers, but Lori Greiner ultimately secured the deal, offering $200,000 for 12.5% equity with a $0.75 royalty per unit until the investment was repaid. Josh accepted Lori’s offer, recognizing the value of her expertise in scaling consumer products.

LavaBox Shark Tank Pitch Summary

What Happened To LavaBox After Shark Tank?

Following its successful pitch on Shark Tank, LavaBox experienced a surge in popularity and sales. The exposure from the show and Lori Greiner’s investment helped Josh Thurmond scale the business and expand its distribution channels. LavaBox quickly sold out of its existing inventory, and production was ramped up to meet the growing demand.

By April 2023, LavaBox had brought on Alex Mauer, a popular TikTok content creator, to help boost its marketing efforts and reach a broader audience.

The company also continued to focus on its mission to promote fire safety and environmental responsibility, donating $1 from every sale to organizations dedicated to protecting rivers and natural habitats.

LavaBox has since expanded its retail presence, with its products now available in 21 stores across the United States and through its website. The company has also begun exploring opportunities to enter international markets, with plans to ship to Europe and Asia in the near future.

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How Much Is LavaBox Worth?

As of July 2023, LavaBox is estimated to be worth $1.6 million. The company’s rapid growth and strong sales have contributed to its increasing valuation. Since its founding in 2020, LavaBox has sold over 4,000 units, generating approximately $1.2 million in sales.

The valuation reflects the company’s potential for continued growth, especially as it expands into new markets and introduces additional product lines. LavaBox has successfully positioned itself as a leader in the portable campfire market, with a unique product that addresses both safety and environmental concerns.

Is LavaBox Still in Business?

Yes, LavaBox is still in business as of July 2023. The company, headquartered in Denver, Colorado, has continued to thrive following its appearance on Shark Tank. Josh Thurmond and his team remain committed to their mission of providing a safer, more sustainable alternative to traditional campfires, and the company continues to see strong demand for its products.

With Lori Greiner’s support, LavaBox has expanded its reach, securing new retail partners and exploring international distribution opportunities. The company’s focus on innovation and environmental responsibility has resonated with consumers, making LavaBox a popular choice for outdoor enthusiasts looking for a safer way to enjoy a campfire.

Which Episode Number Was LavaBox Shark Tank?

LavaBox appeared on Shark Tank during Season 14, Episode 18, which originally aired on March 31, 2023. The episode was a turning point for the company, as it secured a valuable partnership with Lori Greiner and gained significant exposure that helped drive sales and growth.