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 Breathometer will presumably make intelligent and informed choices when faced with the prospect of driving after having a few cocktails. 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.
Breathometer Shark 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!”
Breathometer Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Breathometer and Charles Michael Yim as more details become available.
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