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