Boost Oxygen has revolutionized the supplemental oxygen industry. Founded in 2007 by Mike Grice and Rob Neuner, the company created a portable oxygen product designed for athletes, travelers, and anyone needing a quick energy boost. Their appearance on Shark Tank not only showcased their innovative product but also secured a deal with Kevin O’Leary, which helped to reach the brand to new heights.
Key Facts About Boost Oxygen
| Detail | Information |
|---|---|
| Founders | Mike Grice and Rob Neuner |
| Founded Year | 2007 |
| Headquarters | Milford, Connecticut, USA |
| Shark Tank Deal | $1 million loan at 7.5% interest for 6.25% equity with Kevin O’Leary |
| Sales at Pitch | $6.4 million |
| Annual Revenue (2024) | $84 million |
| Net Worth (2024) | Estimated $20 million |
| Retail Reach | Available in over 8,000 stores, including Walgreens and Kroger |
| Market Share | Holds 95% of the portable oxygen market |
| Philanthropy | Donated to the Connecticut Food Bank during the COVID-19 pandemic |
Boost Oxygen’s Shark Tank Pitch
Boost Oxygen appeared in Shark Tank on Season 11, Episode 2. Founders Mike Grice and Rob Neuner offered $1 million for 5% equity, valuing their business at $20 million. Their pitch highlighted their dominance in the portable oxygen market and the potential for even greater growth.
Here’s how the pitch unfolded:
| Pitch Detail | Information |
|---|---|
| Episode | Season 11, Episode 2 |
| Ask | $1 million for 5% equity |
| Valuation | $20 million |
| Deal Secured | $1 million loan at 7.5% interest rate for 6.25% equity with Kevin O’Leary |
| Sharks’ Comments | Praised the product’s innovation but expressed concerns about scalability |
The deal with Kevin O’Leary provided both the funding and expertise needed to take Boost Oxygen to the next level.
Boost Oxygen Founders: Mike Grice and Rob Neuner
Mike Grice and Rob Neuner brought complementary skills to their business. Rob’s experience in Europe introduced him to the concept of portable oxygen, and Mike’s strategic mindset helped shape the company’s growth. Together, they built Boost Oxygen into a trusted brand known for quality and reliability.
Boost Oxygen Net Worth
Boost Oxygen was founded in 2007 by Mike Grice and Rob Neuner. It has an estimated net worth of $20 million in late 2024. After its Season 11, Episode 2 airing on Shark Tank and partnering with Kevin O’Leary, the company made a drastic boost in its popularity. It generates an annual revenue of $84 million and holds 95% of the portable oxygen market. Boost Oxygen has become a go-to solution for athletes, travelers, and any individual seeking quick and convenient oxygen support.
Why Customers Love Boost Oxygen
Boost Oxygen appeals to a wide range of customers:
- Athletes: Use it for enhanced performance and quicker recovery.
- Travelers: Rely on it to fight altitude sickness.
- Everyday Users: Enjoy the convenience of a portable energy boost.
Its simple, effective product design and trusted reputation have won over loyal customers throughout the world.
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Challenges and Future Plans
While scaling internationally and maintaining quality can be challenging, Boost Oxygen is well-positioned for continued growth. With plans to expand globally and introduce new products, the company aims to remain the leader in the supplemental oxygen market.
Boost Oxygen After Shark Tank
The Shark Tank effect was immediate and impactful. Boost Oxygen experienced exponential growth in sales and brand recognition.
- Revenue Growth: Sales skyrocketed from $6.4 million at the time of the pitch to $84 million annually by 2024.
- Retail Expansion: The product is now sold in over 8,000 locations, including major retailers like Walgreens, Dick’s Sporting Goods, and Kroger.
- Market Leadership: Boost Oxygen dominates the portable oxygen market with a staggering 95% share.
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