Breathometer came out in 2012, and in 2013, it was on Shark Tank. The founder, Charles Michael Yim, gave a pitch in the tank that was one of the most successful ever, and he was able to get five investments for four times the amount he asked for.
What Is Breathometer?
The first breathalyser was a device that could be plugged into the audio jack of a smartphone. A person would blow into the device, and in five seconds, the Breathometer app would show the person’s blood alcohol level.
The app would then tell you how much alcohol was in your blood, how long it would take for you to be safe to drive again, and give you the option to call a taxi service if you were over the legal limit.
Brethometer said it was a breathalyser that was good enough for law enforcement. After the first one came out, the Breeze Breathometer came out. It could connect to Bluetooth and do the same thing as the original.
Who Is Founder Of Breathometer?
Yim found out that commercial breathalysers for smartphones did not exist. These tools can help you figure out if someone is safe to drive after drinking. Breathalyzers that could be taken with you were usually expensive and hard to carry.
In 2012, he made an app that said it could tell how much alcohol was in the blood. The serial entrepreneur started a crowd-funding campaign on Indiegogo and raised more than $140,000 to build the product.
Then, during the SXSW Music Festival in Austin, Texas, he had beta tests. After that, Charles made the product official and sold it both online and in stores.
Shark Tank Appearance
A year after starting Breathometer, Yim went on Season 5 of “Shark Tank” and asked for $250,000 in exchange for 10% of the company. Putting a $2.5 million value on a startup in its early stages
Charles got off to a good start by giving everyone a glass of champagne. He made a confident pitch and answered questions in a way that made sense. Lori also tried out the gadget. All of the sharks were interested, and soon there was a bidding war.
Mark Cuban made the first offer, and then Kevin O’Leary made a counteroffer. After that, Kevin joined forces with Robert Herjavec and Lori Greiner. A solo offer was also made by Daymond John. In the end, they all agreed to put in $1 million and share the 30% equity equally.
What Happened After Shark Tank?
The app-ready smartphone gadgets were shown on the ABC show “Shark Tank,” and five of the “Sharks” gave Charles Michael Yim a $1 million contract. But it turned out that the app wasn’t reliable, so the Federal Trade Commission shut it down.
The Federal Trade Commission said that people spent more than $5 million on breathalysers that they thought would give them accurate readings of their blood alcohol level, but the marketing was a scam. Now, the FTC says that the claims made by the people selling the product were not backed up by scientific evidence.
In 2017, the FTC found that Yim’s app wasn’t reliable and made a lot of false claims in its marketing. Breathometer is now one of the biggest failures in Shark Tank history because the app was shut down. The FTC also told companies to tell customers and give them full refunds.
Breathometer is still in business despite the setback, and it is focusing most of its attention on its Mint product, which is all about oral health. On their website, clicking “Buy Now” takes you to a broken page, which makes it look like the business isn’t doing well.
Mark Cuban said that it was his worst investment on Shark Tank and said that the founder was to blame for how badly the business was run. Cuban didn’t like Charles’s partying ways, and he basically made too many promises and didn’t keep them. Charles Yim is an angel investor at Sync.vc as of right now.
Breathometer Net Worth 2023
On Shark Tank, Charles Yim made history by getting an investment from all five sharks. Breathometer was a device that said it could use a smartphone to figure out how much alcohol was in a person’s blood.
But the FTC shut down the app, and as of 2023, the company is worth nothing. Later, they changed their focus from alcohol to dental health and losing weight.
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