The other day, I admitted that I am an app hoarder. Just when I thought I had this nasty habit under control, it got worse. Today, I bought the Breathometer Breathalyzer App which measures your blood alcohol content. The whole purpose of the app is to tell you if you had too much to drink and if you’re in a condition to drive. Everyone knows that I am one of the last people on earth who needs this app. I barely drink. I could however, prance around parties taking the blood alcohol level of others who I think drink too much. If I thought they were in danger, I wouldn’t hesitate to try to stop them from driving.
The reason I rushed to buy the Breathometer Breathalyzer is because I saw the new invention on Shark Tank last Friday night. For the first time ever, the five Sharks, (Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary) will all be chipping in a total of $1 million to invest in what they think is going to be a great payoff. The Sharks will have 30 percent of the action.
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.
For just $49.00, the new invention not only tells you your blood alcohol, but tracks your recovery process. It let’s you know when it’s safe to drive. This app can potentially save lives and prevents DUI’s.
The star of the show was Charles Michael Kim, the developer of the technology. The Sharks loved him. I will spell out why in tomorrow’s post. I have been around too long not to understand why money deals get made. I would love your comments as well after I give mine.
So far Yim is a big success story. This past March, he raised way more then his initial request on Indiegogo, the crowd funding platform. Yim’s goal was $25k. He raised $138,000 from over 3,800 contributors.
Yim is a good bet. He was the founder and CEO of Chatterfly, a start-up which was acquired by Plum District (a Kleiner Perkins Co.) who was only interested in the technology to further grow their version of the Daily Deals Business.
The Shark Tank visibility on Friday night has to be a major win win for both the investors and Yim. Seven million viewers learned about the Breathalyzer.
If a small percentage of viewers rush out to pre-order the hardware and download the app, the venture will turn out to be a whopper of a success.