At the same time Mateschitz and Chaleo Yoovidhya founded Red Bull GmbH; each investing $500,000 of savings and taking a stake in the new company. Chaleo and Dietrich each held a 49% share of the new company. They gave the remaining 2% to Chaleo's son Chalerm, but it was agreed that Mateschitz would run the company. The product was launched in 1987, in a carbonated format.