Deal Abstract

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B2B SaaS company that is helping companies index their offline video catalogs, backed by Jason Calacanis' launch.

Financials (VRB)

Question Notes
1. Fundraising Target? $428000
2. Fundraised So Far? $150240
3. Pre-Money Valuation? $9000000
4. Previous Year's Annual Revenue $667000
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-209680

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: Boston, MA
2. Has at least 2 founders? False: Two
3. Has product in the market? True: Revenue generating
4. 6 months of continuous user growth or 6 months of revenue? False: Revenue decreased from 2019 to 2020
5. Notable investors? True: Jason Calacanis!
6. Post-funding, will have 18 months of runway? True: Only needs $300k

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

Question Score Notes
1. Engineering? 3 Searchable for offline storage, very interesting
2. Timing? 3 Def a need for this type of indexing as we make more video content
3. Monopoly? 2 Revenue decreased, and have heard of other companies doing this business
4. People? 3 CEO has the right background, though c-suite seems a little slim
5. Distribution? 3 CEO has the right industry connections to sell this
6. Durability? 3 If it can be built, quite defensible as this is mapping data
7. Secret? 3 Indexing and cataloguing offline videos will be a larger market than cloud cataloguing

What has to go right for the startup to return money on investment:

1. Algorithms for recognition online work on offline video, 2. Revenue picks back up; 3. Smooth integration with other editing software

What the Risks Are

1. The act of saving videos on hard disks is a cost saving choice, so businesses are not inclined to spend money indexing this; 2. Can the CEO build a strong executive team

Bonus Muhan's Notes

Very cool company. Need to ask more questions about the team.


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