Last Updated on October 28, 2023 by Benjamin Mulany
Few creative startups have been able to draw in as much attention from the investors as Breathometer. This 2012-founded business gained considerable notoriety in 2013 after making an appearance on the popular TV program Shark Tank. In addition to landing a deal with the Sharks, Breathometer’s founder Charles Michael Yim propelled the company to a $50 million valuation.
However, this success story is not without its twists and turns, as the company faced controversy and pivoted to a different industry.
In this blog, we’ll delve into Breathometer’s journey, from its initial triumph to its current status, and explore the net worth that once made it a household name.
|Entrepreneurs||Charles Michael Yim|
|Shark Tank Deal||Deal|
|Shark Tank Ask||$250,000 for a 10% equity|
|Shark Tank Episode||Season 5 Episode 2|
|Last Updated||October 2023|
What Is Breathometer?
Breathometer was a company that gained attention for its innovative products related to breath analysis. The company was founded by Charles Michael Yim and was launched in 2012. One of its notable products, the “Original Breathometer,” was a device that could connect to a smartphone’s audio jack.
Users could blow into the device, and the accompanying Breathometer app would display their blood alcohol content (BAC) in a matter of seconds.
This product aimed to provide a quick and convenient way for individuals to estimate their BAC and make informed decisions about their ability to drive safely.
In addition to the Original Breathometer, the company also introduced the “Breeze Breathometer,” a Bluetooth-capable device with similar functionality.
What Is Breathometer Net Worth In 2023?
Breathometer gained significant attention when it appeared on the television show “Shark Tank” in 2013, where it secured a substantial investment from multiple investors, including a $500,000 deal for 15% from Mark Cuban. The company’s valuation quickly grew to $50 million.
Disclaimer: The information provided in this post is based on available data online through various sources. While we strive to offer accurate and up-to-date information, we cannot guarantee the current accuracy of details. This information is for educational purposes only and should not be considered as facts.
As of 2023, Breathometer’s operations are uncertain. The company faced challenges and legal actions related to the accuracy of its product’s claims. Additionally, Breathometer transitioned its focus to the oral health industry with a product called “Mint.” There may have been further developments or changes since then, as soon as we get further updates on the latest net worth of Breathometer, we will update it ASAP.
Breathometer Shark Tank Investment
Breathometer’s journey began on the set of the popular television show Shark Tank. Charles Michael Yim pitched a groundbreaking product – a device that connected to a smartphone’s audio jack. This device allowed users to blow into it, and within seconds, the Breathometer app would display their blood alcohol content (BAC).
It was a revolutionary idea that aimed to provide a quick and easy way for people to determine whether they were safe to drive.
Yim entered the Shark Tank seeking a $250,000 investment in exchange for a 10% stake in his company. The Sharks were impressed by the potential of the product and its potential to address a critical issue – preventing drunk driving. What followed was unprecedented in the show’s history.
Mark Cuban offered $500,000 for a 20% stake, with Lori Greiner expressing interest in partnering with Mark. Additionally, Robert Herjavec, Kevin O’Leary, Daymond John, and Lori Greiner each contributed $500,000 for a divided 15% stake, collectively valuing the company at approximately $3.3 million.
Rapid Growth and FTC Controversy
Breathometer’s early success was remarkable. The company quickly grew to a valuation of $50 million, a significant increase from the valuation set during its Shark Tank appearance. However, this rapid ascent was not without its challenges.
The Federal Trade Commission (FTC) raised concerns about the accuracy of the product’s claims. Breathometer’s claims were not backed by scientific studies or rigorous testing, leading to questions about the product’s reliability.
The FTC took action, halting the sales of Breathometer and requiring the company to refund any customers who requested it. The controversy surrounding the product’s accuracy cast a shadow over Breathometer’s initial achievements, raising questions about the credibility of the technology and the company’s claims.
Breathometer Transition to the Oral Health Industry
In the face of adversity, Charles Michael Yim decided to pivot Breathometer’s focus. He believed in the potential of the technology and its ability to provide valuable health insights, and he redirected his efforts toward the oral health industry. This shift in focus led to the introduction of a new product called Mint.
Mint utilized a similar technique to the Original Breathometer, but it analyzed oral health and hydration rather than blood alcohol content.
It was an innovative approach to a different problem, demonstrating Yim’s resilience and adaptability in the face of challenges.
Breathometer Current Status
While we’ve explored Breathometer’s journey from its inception to its pivot to the oral health industry, the current status of the company remains somewhat unclear.
The Federal Trade Commission (FTC) charged Breathometer with making inaccurate claims about its product’s accuracy, resulting in a settlement to pay back approximately $5.1 million to customers. Breathometer’s app shut down as a result of the FTC settlement.
Additionally, it’s worth noting that Breathometer’s transition to the oral health industry also faced challenges, and it appears that the company’s endeavors with Mint may not have achieved the same level of success as its initial product.
FAQs about Breathometer
Is Breathometer a successful company after Shark Tank?
Breathometer initially experienced success and rapid growth after its appearance on Shark Tank. However, it faced significant challenges and controversies related to the accuracy of its product’s claims. Its success and reputation were impacted as a result. The company’s status and level of success in 2023 are uncertain.
Did Breathometer secure a deal in Shark Tank?
Yes, Breathometer did secure a deal on the television show Shark Tank. Charles Michael Yim, the founder of Breathometer, pitched the product and received investment offers from multiple Sharks, including Mark Cuban and other investors.
Who is the founder and owner of Breathometer?
Charles Michael Yim is the founder of Breathometer. He played a key role in pitching the product on Shark Tank and securing investments for the company. As for the ownership of the company in 2023, that information would require up-to-date sources, which we do not have access to.
Breathometer’s journey is a rollercoaster of success and controversy. From its inception as a groundbreaking product seeking investment on Shark Tank to its rapid rise in valuation, the company seemed poised for greatness.
However, the shadow of the FTC’s concerns about product accuracy and a pivot to the oral health industry cast uncertainty on Breathometer’s future.
The story of Breathometer serves as a valuable lesson in the unpredictable world of startups. It illustrates the importance of thorough testing and scientific validation for products, even if they appear groundbreaking. It also highlights the resilience of entrepreneurs who can pivot their focus and adapt to new challenges.
As of now, Breathometer net worth and the standing of its founders remain ambiguous. Nevertheless, the company’s journey, from the heights of success to the depths of controversy, is a compelling narrative in the ever-evolving landscape of innovation and entrepreneurship.
Benjamin writes and conducts research for AllAboutNetWorth. Ben is a young Canadian man who is now exploring the world. He enjoys both eating and tourism. Benjamin has a strong love for inspiring others to pursue their ambitions. He has explored his interests, vocations, and finances for more than five years. The writings and publications on AllAboutNetWorth are the brainchild of Ben.