Breathometer Net Worth – Shark Tank Update (Season 5)

Charles Yim made history on Shark Tank and received investments from five Shark Tank fellows! Breathometer was a device that claimed to measure a user’s blood alcohol content using a smartphone. However, the app was shut down by the Federal Trade Commission and the company’s market cap is $0 as of 2024. They later pivoted to oral health and weight loss.

Lifelong Entrepreneur

Charles Michael Yim is a lifelong entrepreneur from Los Angeles with a degree in Business Economics from the University of California. After college, Charles interned at Cintas Corporation and worked in business development at Hewlett Packard Enterprise.

His first startup, Chatterfly, was a mobile loyalty rewards platform that was acquired by Plum District for $30 million in 2011. The deal made him VP of mobile operations at Plum District, before he left 10 months later to start Breathometer.

In 2017, he spotted an opportunity in the booming ICO cryptocurrency market and founded Cointopia. The company raised $3 million but collapsed a year later.

The first respirometer

Yim found that there are currently no commercially available breathalyzers for smartphones. These devices are used to determine whether someone is safe to drive after drinking. Typically, portable breathalyzers are expensive and not easy to carry.

In 2012, he developed an app that claimed to read blood alcohol content. The serial entrepreneur launched a crowdfunding campaign on IndieGoGo and raised more than $140,000 to build the product.

Next, he conducted a beta test at the SXSW festival in Austin, before Charles officially launched the product, selling it online and in stores.

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Appeared on Shark Tank

A year after founding Breathometer, Yim appeared on Season 5 of Shark Tank, seeking $250,000 for a 10% stake in the early-stage startup, which was valued at $2.5 million.

Charles got off to a good start by handing out champagne glasses. He delivered a confident presentation and gave convincing answers. Lori also tested the device. All the sharks were interested, and a bidding war ensued.

Mark Cuban made the first bid, and Kevin O’Leary countered. Kevin then teamed up with Robert Herjavec and Lori Greiner. Daymond John also made a separate bid. In the end, they all agreed to invest $1 million and split 30% of the equity.

Post-Shark Tank Updates

The Breathometer gained so much attention after its appearance on the show that soon after the show aired, CEO Charles Yim received tens of thousands of orders and made $1 million in 2013.

That helped him launch a Bluetooth breathalyzer called “The Breeze,” which he sold at Best Buy and Brookstone stores. “The Breeze” and the original app generated $5.1 million in revenue.

Unfortunately, in 2017, the FTC found that Yim’s app was unreliable and made false claims in its marketing. The app was shut down, and Breathometer is now one of the biggest flops in Shark Tank history. The FTC also ordered that customers be notified and provided full refunds.

Despite the setback, Breathometer has launched a new product called Mint, which focuses on oral health. On their website, clicking the “Buy Now” button leads to a broken page, so it appears that the company is no longer in operation. Mint is no longer available on Amazon.

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Mark Cuban called it his worst investment on Shark Tank and blamed the founder for poor execution. Cuban didn’t like Charles’ party lifestyle and that he basically over-promised and under-delivered. Currently, Charles Yim is an angel investor at Sync.VC.

Categories: Shark Tank
Source: dut.edu.vn

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