Deal Abstract

MicroVentures - Invest in Startups

Building a one-stop social media platform that considers the challenges of social media to create a solution by bringing together the power and security of blockchain with a revolutionary business model

Financials (VRB)

Question Notes
1. Fundraising Target? $250000
2. Fundraised So Far? $39500
3. Pre-Money Valuation? $1500000
4. Previous Year's Annual Revenue $0
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-23375

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: Houston, TX
2. Has at least 2 founders? True: Two
3. Has product in the market? False: Launched beta in market and tested with 22,000 users registered organically. CiSApp launched its app in August 2019. Since then, it has added 22,285 users to its platform, averaging ~1,311 signups per month. In 2020, the company averaged 1,514 signups per month, up from ~823 in 2019. To this point the company has relied little on marketing to drive user growth, with $550 in total marketing spend between 2019 and 2020. As of January 2021, the company had approximately 10,200 monthly active users (MAU) and 3,900 daily active users (DAU).
4. 6 months of continuous user growth or 6 months of revenue? True: Pre-revenue
5. Notable investors? True: Brad Jenkins and Austin Hill from Seed Round Capital have invested in the company as a part of their startup program.
6. Post-funding, will have 18 months of runway? False: 12 months

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

Question Score Notes
1. Engineering? 3 Not yet in the Apple App store, has gained users all through web app. 'Improvements are necessary in order to build such a revolutionary product. Often great product require time, efforts and improvements. First product is not the final product'
2. Timing? 2 Timing good for blockchain, but a blockchain-based Social Network?
3. Monopoly? 2 Good user growth but nothing astronomical for a social media play
4. People? 2 Team and advisors is good but not seeing any previous experience monetizing social media
5. Distribution? 2 Did well to grow on shoestring budget, but how will they get to millions which is the need for ad revenue?
6. Durability? 3 If they can build it, definitely defensible
7. Secret? 2 Blockchain's adoption and the exhaustion of social media have created the perfect opportunity to create a blockchain universal identity

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

1. Finish product; 2. Mass adoption among Millennials and GEN Z; 3. Monetize

What the Risks Are

1. Business model too complex; 2. Blockchain as technology is not meaningful business differentiation; 3. The key is not to use blockchain to make a social media app, but rather, to use build social media networks around blockchain verticals e.g. Venmo adopting crypto now and enabling social payments, or Public allowing for social investing

Bonus Muhan's Notes

-  Beta launched in Play Store (22k users registered achieved organically through memes targeted southern states of India); - Graduated from Cohort 6 of Conscious Venture Lab Accelerator program Baltimore, US.; - Participated in the Startup program Seed Round Capital.; - top 47 breakout apps in the world in 2020 by AppSamurai.; - top 25 fundable startups by India Fund Fest.


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