Deal Abstract

Invest in DigiBuild
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Blockchain powered project management software wants to revolutionize construction management.

Financials (VRB)

Question Notes
1. Fundraising Target? $1070000
2. Fundraised So Far? $549707
3. Pre-Money Valuation? $7500000
4. Previous Year's Annual Revenue $65340
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-85455

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: New Lenox, IL
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: Decreasing revenue
5. Notable investors? False: No one I recognize
6. Post-funding, will have 18 months of runway? True: Only needed $120k for runway

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

Question Score Notes
1. Engineering? 3 Using crypto to fix record keeping
2. Timing? 1 Why is now the time these companies will adopt this?
3. Monopoly? 1 Decreasing revenue
4. People? 2 Right founder but not seeing more unfair advantages selling B2B esp given revenue
5. Distribution? 2 Founder has good base but not phenomenal base
6. Durability? 4 If you can build this, insanely defensible
7. Secret? 1 Construction companies are going to leave behind their proprietary workflow systems internally to collaborate on a blockchain powered external standard

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

1. Troubleshoot revenue; 2. Get more sales; 3. Go deep first before expanding

What the Risks Are

1. Blockchain is a tool not a solution; 2. Firms will be reluctant to have new ways of doing things forced on them; 3. Real estate in general is quite any technology and innovation

Bonus Muhan's Notes


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