Breathometer gained considerable traction and investor investment following its pitch on Shark Tank; however, due to product inaccuracies and regulatory issues, it ultimately went out of business. Check out the Best info about sdit.
Charles Michael Yim appeared on the show in 2013 to present his breathalyzer device, which plugs directly into smartphone headphone jacks and helps users call taxis when their alcohol levels exceed legal thresholds.
How did Breathometer get started?
Breathometer is an intriguing startup company that has experienced quite the roller coaster ride since its appearance on Shark Tank. Showcasing its breathalyzer device, which was supposed to revolutionize how people measured blood alcohol levels, Breathometer made waves after appearing on this popular show, garnering significant investment and widespread acclaim from both investors and the general public alike.
Charles Michael Yim, CEO of Breathometer, pitched their smartphone-enabled breathalyzer to the Sharks on Season Five of Shark Tank. According to his pitch, this device could instantly detect blood alcohol levels using mobile apps and alert users if their BAC reached too high, prompting them to call taxi cabs if necessary.
The Sharks were immediately impressed with Yim’s concept and offered him $1 million for 30 percent ownership in his company, becoming the first person ever to have all five Sharks invest. Yim accepted their offer and became the first ever person to have all five Sharks invest in one startup company; however, FTC later discovered that Breathometer breathalyzer devices frequently understated BAC levels, something Yim was well aware of at that time, leading to lawsuits and refunds for consumers.
What was the original deal made on Shark Tank?
Charles Michael Yim presented the Breathometer, an application that transformed smartphones into breathalyzers, on Shark Tank in 2013. He asked for $1 Million in exchange for 30% ownership. To his amazement and relief, all five Sharks agreed to invest. Obtain the Best information about sdit.
Breathometer was delighted by this investment, yet faced many difficulties that ultimately resulted in an FTC settlement and customer refunds. Though these setbacks caused damage to its net worth, Breathometer continued to innovate and expand its product offering.
No secret exists regarding the success of all companies on Shark Tank; in fact, billionaire investor Mark Cuban recently revealed that he lost $28 million in investing in 85 start-ups featured on the show.
What did Breathometer do after Shark Tank?
Charles Michael Yim was successful in convincing Mark Cuban, one of the show’s billionaire investors, to invest $1 Million with him for 30% ownership in 2013.
Robert Herjavec, Kevin O’Leary, Daymond John, and Lori Greiner contributed $ 500,000 each for an equitable 15% stake and valued the company at $1 million.
Soon after the episode aired, Breathometer’s sales skyrocketed. Yim revealed in the Episode 604 update that he had received over $1 Million in orders since appearing on Shark Tank and that he was expanding nationally through Brookstone and Best Buy. Unfortunately, due to regulatory issues, Breathometer was forced to stop producing inaccurate results due to customer safety concerns; eventually, it pivoted towards health technology with breath tests for bad breath and oral care as essential products; its versatile technology even showed promise with applications including diabetes monitoring and metabolic rate tracking among others conditions like diabetes monitoring as potential applications as well.
What are the new applications for Breathometer’s technology?
Breathometer’s breath alcohol testing technology has found new applications. Now available is Breeze, which connects directly to your smartphone headphone jack to measure blood alcohol content (BAC). You can even track it with an Apple Health Kit so you can make responsible decisions based on real-time data. Often the Amazing fact about sdit.
This company also provides a mobile app designed to assist with staying safe and sober. The app gives instantaneous results and recommendations on how long it should take users to return to zero. It has integrations for Uber, local restaurants, and hotels.
Charles Michael Yim is an expert at finding unmet needs and creating innovative solutions to fill them. The success of both Breathometer and Cointopia showcases this ability, with his vision and strategy for each company contributing heavily to their growth; these skills will continue to support his ventures for many years to come.
What happened to Breathometer after Shark Tank?
Charles Michael Yim made history on Shark Tank when he won over all five investors for his smartphone-connected breathalyzer app. The app claimed to analyze blood alcohol content levels using smartphones, with results displayed directly within the app.
After appearing on the show, Breathometer received an unprecedented boost in demand, and Yim released a Bluetooth version of his device that became widely available at Best Buy and Brookstone stores across the US. The device quickly proved successful, further expanding Breathometer’s revenue streams and driving revenue growth.
This company’s inability to accurately measure BAC levels ultimately doomed it. After an investigation by the Federal Trade Commission, refunds had to be given back, and production of its app stopped immediately.
The company was forced to reevaluate its business strategy and focus, leading it to alter its product development strategies and explore other health-related applications for its technology. This pivot allowed it to keep generating income while expanding its net worth.
