Deal Abstract

Invest in Audios
Republic is a startup investing platform where you can invest as little as $10 in impactful startups

HP alum engineers have a patented ability to mesh wireless speakers together at scale. Pre-revenue, product not yet commercial, but glowing reviews and heavyweight investors.

Financials (VRB)

|Question|Notes|
|---|---|---|
|1. Fundraising Target? |$1070000|
|2. Fundraised So Far?|$237730|
|3. Pre-Money Valuation?|$8000000|
|4. Previous Year's Annual Revenue |$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) |~$-262839|

Source

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? False: Atlanta, GA, and if I recall correctly, in the same building as Mailchimp/Kabbage (JK it's just a UPS)
2. Has at least 2 founders? True: Two
3. Has product in the market? False: No revenue
4. 6 months of continuous user growth or 6 months of revenue? False: 'We have 1 licensable patent granted, 2 patents pending, and are in early discussions with a Global 500 competitor about licensing our technology. We also established B2B partnerships with Moor Productions in Miami, and PBE in Las Vegas to refine and execute our scalable business model.'
5. Notable investors? True: Charles Huang and Andy Rachleff, both are impressive angel investors
6. Post-funding, will have 18 months of runway? True: Has nearly a year of runway, should be able to hit 18 months.
Source

The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)

Question Score Notes
1. Engineering? 4 Bonafide technology innovation. Longer battery life, mesh network syncing.
2. Timing? 2 I see the argument about this being exquisite timing for COVID, but not completely convinced.
3. Monopoly? 1 Have heard of some product like this, but it may have been Audios back in the day. That said, raving customer reviews.
4. People? 4 Founder is an absolute go-getter. Co-founder has shared HP experience.
5. Distribution? 2 eCommerce and big box retailer. Not great but not bad.
6.


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