LavaBox Valuation – What Happened Since Shark Tank?

Outdoor adventures are exciting, but building a fire is not. Josh Thurmond invented LavaBox, a portable campfire that takes away those worries. It’s made from ammo boxes, so you can rest assured it’s sturdy. They marketed their product on Shark Tank and landed a deal with Lori Greiner. By 2024, LavaBox is estimated to be worth $2 million.

Josh Thurmond’s Background

Josh Thurmond is from Denver, Colorado. Thurmond holds a bachelor’s degree in history from Missouri State University at Denver and a master’s degree in public administration from the University of Colorado at Denver.

He started out as a program administrator in the District Attorney’s Office and later held senior positions at companies such as the National Sports Center for People with Disabilities, Adam’s Camp, and Handbid.

Founding LavaBox

Thurmond loved kayaking with his friends. While touring the Rockies, one of his friends joked about putting a fire pit in the back of the raft. While everyone laughed, it sparked an idea in Josh’s mind.

Josh thought of an ammo can, which is common among rafting guides because of its sturdy material. Back home, Thurmond connected the propane gas line to the ammo can, which was strong enough to contain the fire inside.

The LavaBox was born, a portable campfire invented during the 2020 bushfire season. It was the perfect time to launch a product, and Josh quickly filed for a patent.

Appeared on Shark Tank

When Colorado implemented a statewide wildfire ban, the LavaBox became an instant hit because it complied with the ban. People loved the product, and it quickly went viral among campers on social media.

In a few months, the portable fireplace left the competition in the dust. It wasn’t just outdoor gear, it was a tool to combat climate change. Two years after its launch, the Lavabox had sold more than 4,000 units and had $1.2 million in sales before Shark Tank. Multiple Sharks wanted the deal, but Lori ultimately won the battle.

After Shark Tank

The day after the episode aired, the store sold 260 units! It usually takes them a month to sell that many units. According to DenverPost.com, the deal with Lori was never completed because Josh changed his mind. The episode aired a year after it was filmed, and it’s possible that he didn’t feel he needed her help.

Lavabox made $1 million in profit in 2022 and expects to make $2 million in profit in 2023. Thurmond is happy with the growth but only wants to bring in investors if it makes sense. The company was founded to prevent wildfires and may not be able to scale.

You can purchase any of their portable campfire models at several sporting and camping stores such as Volcano eCigs, 4Corners Riversports, Liberty Mountain Distribution, and their website FireAnytime.com. Prices range from $199 to $349, and many of their designs have 5-star ratings on their website.

Categories: Shark Tank
Source: svlsf.edu.vn