Charles Yim is the founder of Breathometer, a device that you attach to your mobile device’s audio jack, download the app, and blow into it after a wild time in the town. It takes a few moments for your smartphone to show you your blood alcohol concentration (BAC). If you are over the legal limit of 0.08 percent, you will even get a cab and get a hotel recommendation.
Charles Yim is an angel investor from Silicon Valley and a seasoned entrepreneur with 2 successful exits. He has raised $1 Billion to date for ventures he has been involved with. He is passionate about inventing and building innovative consumer-focused companies. This is through his venture studio Sync.VC that spans health, technology, and wellness.
I am a graduate of the University of California with a Bachelor of Science in Business Economics and a lifelong entrepreneur. So far, I have founded two businesses in my career. I also do guest speaking and in May 2021I published a book about entrepreneurship.
I got the idea for the company when I knew there wasn’t a breathalyzer that can connect to the smartphone market and also be portable. At the end of 2012, I founded Breathometer to create the first breath analysis program that is portable.
Early beta trials were given out at the SXSW music festival in Austin, TX. This was after the IndieGoGo raised about $140,000 in funding to get the production going. I then put the product on the market and sold it primarily in a brick-and-mortar store and on the internet. Looking for new ways to expand my business and reach a wider audience led me to search for high-profile investors.
I went to the Shark Tank show seeking $250,000 in exchange for a 10% equity in my company. I then offer the Sharks champagne and asked whether they will be able to drive home safely that night. Lori tried to test the Breathometer and comes up with a 0.04, which is within the legal limit for driving.
Using similar hardware and technology, I then explain my work on a diabetes testing app. I put in my own $50,000, but I still needed more to produce the product. Mark offered $500 for 20% equity in the business. Mr. Wonderful offered a million-dollar venture capital round in 60 days for 15 percent equity in my company. Later, Mark offered to put up $500k for 15% equity in the business and the other Sharks added another $500k for 30% equity in the business. This resulted in a million-dollar offer.
I then called my business partner and expressed my concerns about the Sharks’ valuation and ability to cooperate. I accepted the offer and I was “ecstatic” that the five Sharks assisted me to raise a million dollars.
To a young Michael Yim, you should know that there is no small business owner that can prosper without taking action. That means it is up to you to reach out to new potential customers or widen your skill sets. In addition, you should never be afraid to try something new, even if it is a short-term arrangement.
We now have a new Bluetooth Breathometer called The Breeze. The idea came up while I was working on a breath analysis project for the Cleveland Clinic. I made $1 million in sales in the first update. This year, the company expects to make $10 million.
You can use the Breathometer to know if you are fit to drive or if you should call a cub instead. A smartphone app like this can save hundreds of lives and arrest thousands of traffic violators and drunk drivers.
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