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