A team of book nerds is teaming up together to usher in digital marketing best tactics for book publishers. Interesting barbell strategy of great timing (digital marketing) and bad timing (legacy publishing is stagnant.) After books, going to podcasts and videos.
|1. Fundraising Target? |$1250000|
|2. Fundraised So Far?|$140000|
|3. Pre-Money Valuation?|$4000000|
|4. Previous Year's Annual Revenue |$0|
|5. Previous Year's Annual Net Income (Positive means Profitable, Negative means Burning Cash) |~$-384803|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||True: Sausilito, CA|
|2. Has at least 2 founders?||****: CEO has 6mm shares of 7.8mm shares as shown on cap table|
|3. Has product in the market?||****: Piloting with large publishing houses.|
|4. 6 months of continuous user growth or 6 months of revenue?||****: Pre-product.|
|5. Notable investors?||True: Ingram, Chronicle, and Sandusky, but no big SaaS investors, sadly|
|6. Post-funding, will have 18 months of runway?||True: If they raise $1m that's 3 years of runway.|
|1. Engineering?||4||Benchmarking to Goodreads, which got acquired Amazon and is more reader focused, less writer analytics focused|
|2. Timing?||3||Traditional publishing has been dying/stagnating for a while, hence not a five. But this is a great time to do SaaS and analytics.|
|3. Monopoly?||1||As someone who reads/writes fairly aggressively, I have never heard of Booxby before today.|
|4. People?||2||I like that the team has a lot of publishing experience, but I wish it had more media execs in the core team. That said, Jacob Bronstein will be a critical asset to shore up the business side.|
|5. Distribution?||3||Already got to Hachette and Simon & Schuster, shows can talk to executives at these houses.|
|6. Durability?||4||Data, also, not that|
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