Alcohol consumption increases the possibility of impairment when driving. Although Breathalyzers are useful in figuring it out, they are not potable enough to haul around. Charles Michael Yim claims to have developed the first cell phone tester because of this.
It appeared in Shark Tank, and was it a successful one? To know its current status, go through this article!
|Charles Michael Yim
|Asking of Company:
|$250,000 for 10% equity
|$1,000,000 for 30% equity
|Shark on board (Investors):
|Mark Cuban, Lori Greiner, Robert Herjavec, Daymond John and Kevin O’Leary
|Shark Tank Episode:
|Season 05 Episode 02
|Feb 28, 2024
About the Founder
Charles Michael Yim is the founder and CEO of Breathometer. His initial degrees in business management were earned from California University, Berkeley. Yim has experience working in commercial growth for Hewlett Packard Enterprise and as a trainee for Cintas Corporation after graduating from college.
His first business, Chatterfly, was a smartphone incentive system. He also started Cointopia, but after securing $ 3 million, the business closed a year later.
Breathometer was first made in 2012 but it was launched in the market in 2013 through an Indiegogo funding campaign. Charles had contributed $50,000 of his resources to launch the business. It is a compact gadget that may detect an individual’s blood alcohol concentration (BAC) through their inhalation.
The gadget has Bluetooth and a headphone plug for connecting to devices. It functions with a smartphone app that shows the BAC reading and provides people with a rough idea of their state of debauchery.
Shark Tank Appearance
In September 2013, Breathometer was pitched by entrepreneur Charles Michael Yim and featured on the 2nd episode of Shark Tank, Season 5. On an advanced purchase, the pricing of the Breathometer was $49. For a 10% risk, Yim had requested $250,000. This proposal made Daymond John question Charles to which he responded that he will devote all of the funds to production.
Unexpectedly, Mark Cuban went all-in, asking for $500,000 as a trade for 20% of the business. Following him, Kevin O’Leary made a deal of $250,000 for 15%. Charles then got right to the point and told the sharks that he wanted to gain a million dollars in 60 days. However, Mark refused to work with any of his co-entrepreneur.
For a combined investment of $500,000, Robert Herjavec partnered with Kevin. Lori Greiner requested to be their partner as well. Together, the three sharks contributed a total of $750,000 for a 30% interest. John made a single investment of $250,000 as a trade for 10% stock after Mark iced him out and told him he had no place in the trio but eventually agreed after some discussion between them.
The five sharks proposed an agreement of $1,000,000 for 30% stock, with Mark contributing $500,000 for 15% share and Robert, Lori, Kevin, and Daymond, each contributing $125,000 to split the balance of a 15% stake among themselves. Charles graciously accepted the offer which was four times what he had requested.
A New record was made about the five-way break in the show.
After Shark Tank
Nearly seven years have passed and the company is worth more than $30 million. The Original Breathometer and the Breeze were two of Breathometer’s devices. But in 2017, the Federal Trade Commission (FTC) accused the company and claimed that the business had not thoroughly tested the devices’ accuracy and had no sufficient scientific backing for its claims. As of 2024, there is no trace of the business in the market.
However, Charles’ latest product, Mint, uses the same methodology as the Original to assess an individual’s mouth vitality and its level of moisture. Despite the loss, O’Leary is still optimistic about the new product.
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