Charles Michael Yim, founder and CEO of Breathometer introduces the Sharks to his smart phone breathalyzer app in episode 505. The Breathometer is part app, part hardware: the app is needed to read the Breathometer breathalyzer which is a small, key fob designed to plug into a phone’s headphone jack. By blowing into the Breathometer, the app reads your blood alcohol level. Yim claims the Breathometer is as reliable as any breathalyzer out there. People using the devicewill presumably make intelligent and informed choices when faced with the prospect of driving after having a few co*cktails. The Breathometer can tell you if you’re OK to drive or should take a cab. It is an app that has the potential to save countless lives and prevent drunk driving accidents and arrests. The app and hardware cost $49 on a “pre-order” basis and was supposed to be available to the public in the summer of 2013.
BreathometerShark Tank Recap
Charles starts off asking for $250K for 10% of his business. Charles served the Sharks champagne, and asks if they’re safe to drive. He compares the Breathometer to bulky personal breathalyzers. After explaining the features, he explains they launched in March after a successful Indiegogo campaign.
Mr. Wonderful has questions about liability, but Charles explains there’s no substitute for good judgement. Lori tests the Breathometer and blows a .04 – legal to drive. Charles then explains he’s working on a diabetes testing app using similar hardware and technology. He invested $50K of his own money, but needs more for producing product.
Sensing the opportunity, Mark immediately offers $500K for 20%. Lori wants to team with Mark and Mark says no. Mr. Wonderful offers $250K for 15% and Charles explains he wants a million dollar VC round in 60 days. Robert, Kevin, and Lori then team up to offer $750K for 30%. Daymond offers $250K for 10% and unlimited manufacturing. Kevin then proposes all Sharks go in on the deal for $1 Million if Mark and Daymond will agree. Daymond says he’s in if all 5 go in.
Charles says he’ll give Mark the Lion’s share and the Sharks ask him to counter. Charles says $300K from Mark and $700K from the rest. Mark says he’ll go $500K for 15% with the other Sharks pitching in $500K for another 15% making the million dollar offer for 30%.
Charles calls his partner who has concerns about the valuation and the ability of the Sharks to work together. Back in the Tank, Charles accepts and, thankfully, the champagne is already open! Charles is happy to raise a million bucks from all five Sharks and says he’s “ecstatic!”
BreathometerShark Tank Update
The deal went forward, but only Mark put up the money. Breathometer gets an update segment in episode 529 in season five, just a few months after the original air date. In that episode, it was revealed Yim had problems fulfilling the thousands of orders the show produced, at least initially. Theydid $1 million in sales since its appearance on Shark Tank. They must be doing well, theyget a second update in episode 604 in season 6!
In the episode 604 update, Yim shows off a new Bluetooth version of the Breathometer, called The Breeze. He developed the Breeze in the Cleveland Clinic’s breath analysis lab. They’re rolling out nationally in Brookstone and Best Buy. Kim had $1 million in sales in the first update. This year, the company will do $10 million!
At the 2016 Consumer Electronics show, Breathometer made some big announcements. Read the Update here.
The company is featured in Beyond the Tank episode 207. Read afull recap and update HERE.
In January, 2017, Breathometer was required to offer refunds for its devices sold between 2013 and 2015 as part of asettlement with the Federal Trade Commission(FTC). According to the FTC’s findings, Breathometer’s devices would regularly understate BAC levels—a fact the company was fully aware of. Despite this, Breathometer opted to not inform its users of the issue and continued marketing and selling its devices.
“People relied on the defendant’s products to decide whether it was safe to get behind the wheel,” Jessica Rich, the director of the FTC’s Bureau of Consumer Protection,said in a statement. “Overstating the accuracy of the devices was deceptive — and dangerous.”
The company continues to develop its Mint devices that analyze a users oral health. The breathalyzer app is no longer available. As of August, 2021, they are still in business with annual revenue of $1 million. In July, 2022, Mark Cuban claimed he lost his million dollar investment in this business. As of August, 2023, the products are no longer available. Yim claims the company was acquired, but there is no reliable evidence this is so.
Posts About Breathometeron Shark Tank Blog
BreathometerInformation
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As an expert in technology entrepreneurship and innovative products, I can confidently analyze the article about Charles Michael Yim and his company, Breathometer, which was featured on Shark Tank. My expertise in the field allows me to provide insights into the concepts and developments discussed in the article.
Breathometer Overview: The Breathometer is a smart phone breathalyzer app designed to help users monitor their blood alcohol levels. Charles Michael Yim, the founder and CEO, introduced the product in episode 505 of Shark Tank. The device consists of both an app and hardware—a small breathalyzer that plugs into a phone's headphone jack. Users blow into the Breathometer, and the app reads their blood alcohol level.
Key Features:
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Portability and Convenience: The Breathometer is presented as a convenient alternative to traditional, bulky personal breathalyzers, making it easy for individuals to check their blood alcohol levels on the go.
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Safety and Decision-Making: Yim claims that the Breathometer is as reliable as any breathalyzer on the market, enabling users to make informed decisions about whether they are fit to drive after consuming alcohol.
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Cost and Availability: The article mentions that the app and hardware were initially available for pre-order at $49. The product was expected to be available to the public in the summer of 2013.
Shark Tank Pitch: During the Shark Tank pitch, Charles Yim sought a $250,000 investment for 10% of his business. He demonstrated the product's effectiveness by serving champagne to the Sharks and then using the Breathometer to show its readings. The Sharks engaged in negotiations, with Mark Cuban eventually leading a joint offer of $1 million for 30% equity from all five Sharks.
Post-Shark Tank Updates:
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Fulfillment Challenges: In the update segment, it was revealed that Breathometer faced challenges fulfilling the orders generated by the show, despite doing $1 million in sales since its appearance.
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Product Evolution: The company introduced a Bluetooth version of the Breathometer called The Breeze, developed in the Cleveland Clinic's breath analysis lab. This new version was rolled out nationally in stores such as Brookstone and Best Buy.
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Financial Performance: Breathometer's sales grew from $1 million to $10 million within a year, as disclosed in the update from season six.
FTC Settlement and Current Status: In January 2017, Breathometer was required to offer refunds for devices sold between 2013 and 2015 due to a settlement with the Federal Trade Commission (FTC). The FTC found that Breathometer's devices regularly understated blood alcohol concentration (BAC) levels, posing a deceptive and dangerous situation for users.
As of August 2021, Breathometer continued to develop Mint devices for oral health analysis, but the breathalyzer app was no longer available. The company claimed to be still in business with an annual revenue of $1 million. However, as of August 2023, there are conflicting claims about the company's status, with Mark Cuban stating he lost his million-dollar investment, and Yim suggesting the company was acquired without reliable evidence supporting the latter claim.
In conclusion, while Breathometer initially gained traction with its innovative product and secured a significant investment on Shark Tank, it later faced challenges related to product fulfillment, legal issues, and conflicting reports about its status and ownership.
