Repeat founders are building a cloud based facial recognition/security solution. I worked for a startup in this space in 2015, so color me biased.
|1. Fundraising Target?||$28000000|
|2. Fundraised So Far?||$24000000|
|3. Pre-Money Valuation?||$30000000|
|4. Previous Year's Annual Revenue||$77000|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-536000|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||True: San Mateo, CA|
|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: Declined from 130k to ~70k, 2018 to 2019|
|5. Notable investors?||False: No one I recognize reeally|
|6. Post-funding, will have 18 months of runway?||True: Only needs $1m for 18 months at 2019 burn|
|1. Engineering?||2||It's security systems to the cloud. Better than nothing but not sure where the engineering is better.|
|2. Timing?||2||Still not sure whether facial recognition/detect will take off now. I worked as a software engineer for a facial recognition startup in 2015 and 6 years later, still don't really see the industry having proceeded.|
|3. Monopoly?||1||Honestly embarrasingly small revenue for a company valued at $30m|
|4. People?||4||Really stacked team|
|5. Distribution?||3||Team definitely has the ability to sell this product... assuming the market exists|
|6. Durability?||3||If they can build it, definitely not easy to replicate|
|7. Secret?||2||The facial recognition/analysis market is going to be captured significantly more by cloud providers... if the market is that large|
What has to go right for the
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