Breathometer Biography: Breathometer was valued at $2.5 million on the popular television programme Shark Tank in 2013, but the company has since gone out of business, so its current value as of 2023 is unknown. Although the lack of such innovative technology is regrettable, it functions as a cautionary tale for all business owners. Following the shark tank, we will examine the Breathometer’s Net Worth.
2023 Breathometer Net Worth
Charles Yim asserts that the company is worth $50 million. He also mentioned the company’s $4,000,000 in annual revenues.
What exactly is a Breathometer?
The initial intent of the Breathometer was to use a smartphone to calculate a person’s blood alcohol concentration. It was designed to plug into the phone’s audio jack, and after the user exhaled into it, the Breathometer app would display the user’s blood alcohol concentration (BAC) in less than five seconds.
Charles Michael Yim founded the company in 2012 because there were no reasonably priced, high-quality smartphone breathalysers available at the time. They initially crowdfunded the development of the device through Indiegogo and subsequently acquired $1 million from the Shark Tank investors in exchange for a 30% stake in the business.
Due to its reliance on the smartphone’s computing capabilities, the Breathometer was small enough to be affixed to a keychain. If the user’s blood alcohol level exceeded the legal limit, the software would connect them with taxi services, their phone contacts, or neighbouring motels.
At the 2013 SXSW conference in Austin, Texas, the company distributed prototypes of the product. In 2017, however, after a settlement with the FTC, the Breathometer app was discontinued. The company incorporated the technique into a new product branded Mint, which detects sulphur compounds in breath and gum disease.
In September 2016, Philips introduced the Mint in conjunction with its Sonicare oral hygiene products. The Mint is no longer available via Breathometer or Amazon as of 2021.
About the Founder
Los Angeles native and veteran entrepreneur Charles Michael Yim. He earned a bachelor’s degree in business economics from the University of California, Berkeley. After completing college, Charles has worked in business development for Hewlett Packard Enterprise and as an intern for Cintas Corporation.
Chatterfly, his first venture, was a mobile loyalty rewards programme. In 2011, Plum District acquired the corporation for a cool $30 million. After ten months as vice president of mobile operations for Plum District, he resigned to found Breathometer.
Because he saw potential in the emerging initial coin offering (ICO) industry, he founded Cointopia. A year after raising $3 million, the company ceased operations.
Discovery of Breathometer
Yim discovered the hard way that there are no commercially available breathalysers for smartphones. These instruments may help determine if a person has consumed too much alcohol and should not drive. Until recently, portable breathalysers were expensive and cumbersome, making their frequent use inconvenient.
In 2012, he released an app that he claimed could detect blood alcohol concentration levels. The serial entrepreneur launched an IndieGoGo campaign and raised nearly $140,000 to finance the device’s development.
He then conducted test runs in Austin, Texas, during the SXSW Music Festival. After releasing the product to the public, Charles began selling it online and in stores.
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The appearance of a Breathometer on “Shark Tank”
Yim requested $250,000 in exchange for 10% of Breathometer during season five of “Shark Tank.” This was one year after he founded the business. The value of the startup company is $2.5 million.
Charles began the festivities by distributing champagne. He presented with confidence and responded to inquiries with confidence. Lori conducted her own evaluation of the device. The Sharks were all intrigued, and a bidding war ensued swiftly.
Kevin O’Leary submitted a higher offer than Mark Cuban. Kevin then established a business partnership with Robert Herjavec and Lori Greiner. Daymond John also submitted his own proposal. They reached an agreement on a $1 million investment with 30% equity split equitably among the group members.
Updates Breathometer Shark Tank News
In 2013, Charles Michael Yim presented his smartphone breathalyser, Breathometer, on the television programme Shark Tank. Yim requested $250,000 in exchange for 10% equity, but Mark Cuban offered $1,000,000 in exchange for 30% equity.
Cuban was the only entity to provide funding for the sale to proceed. Breathometer ran a successful Indiegogo campaign in the first half of that year, raising $140,000 after selling 4,000 units in just 30 days.
In January 2017, the Federal Trade Commission (FTC) accused Breathometer and Yim of misleading consumers about the accuracy of their product’s BAC measurement.
According to the Federal Trade Commission, Breathometer “lacked scientific evidence to back up their advertising claims,” so the company was required to notify and reimburse all consumers. Mark Cuban stated on Shark Tank in 2022 that his investment in Breathometer was the worst of all time.
Breathometer is no longer a significant player in the breathalyser market, as the company has shifted its concentration to its Mint oral health sensor. Kevin O’Leary, an investor and Shark Tank shark, explained to consumers on the company’s website why Breathometer settled with the FTC.