Twitch/Discord livestream/engagement meets music fans. Building a new music platform with deep expert DJ’s (think Inside.com and the columnist) to go niche and upsell the goods that are 4x to fans.
This is a retroactive deal memo, as the company raised $510k in March. I went to a live investor event.
- Right people with experience on music side of business
- Interesting take to engagement that has seen success in videogames (Twitch/Discord,) while also being tested in news (Inside.com)
- Solid media company, and while it’s impressive that Gimlet sold for $200MM in 5 years of founding, I’d say that’s the exception to the rule. (Alex Blumberg and NPR all-star team were essentially masters of their craft but under market value.)
The 6 Calacanis Characteristics (91 161 18)
|1. A startup that is based in SV||Pass: (San Francisco, CA)|
|2. Has at least 2 founders||Pass|
|3. Has product in the market||Pass|
|4. 6 months of continuous user growth or 6 months of revenue.||Pass|
|5. Notable investors?||Pass: Techstars (Music)|
|6. Post-funding, will have 18 months of runway||Fail: at present raise of $500k, that means 10 months of runway. If they raised 1.5MM, it would have been 30 months of runway. |
Has $111k cash on hand for operations. “The Company’s cash position is relatively limited, and while the company has reduced its burn over recent months, gives the company a limited runway.”Gimme Radio profile on SeedInvest
The 7 Thiel Questions (ETMPDDS)
- The Engineering question:
- Good: introducing Twitch/Discord dynamics with superstar DJ’s has the potential of a 10x better engagement with
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