Deal Abstract
Invest in Gleantap.ai: Revolutionizing the Health & Fitness Industry with AI Engagement & Live Video on @wefunder
We help fitness & wellness clubs, professionals and trainers provide a seamless virtual fitness experience to their members. Our platform enables clubs to host on-demand / live classes, sell memberships, take bookings and gate exclusive members-only content. Our artificial intelligence sales and…
Gleantap.ai on Wefunder
SaaS for gyms that wants to combine CRM/Peloton content library/and Together.Live/Bright App marketplace/video streaming into one mega SaaS megazord for gyms. Good revenue and valuation, but ambitious tech offerings with uncertainty regarding the right vision for the future of fitness.
Thank you to premium reader Eric for sending me the deal!
Financials (VRB)
| Question | Notes |
|---|---|
| 1. Fundraising Target? | $50k-$280k |
| 2. Fundraised So Far? | $56k |
| 3. Pre-Money Valuation? | $5.5m |
| 4. Previous Year's Annual Revenue | $392k |
| 5. Previous Year's Annual Burn | ~$150k |
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
| Criteria | Yes/No |
|---|---|
| 1. A startup that is based in SV? | No: Austin, TX |
| 2. Has at least 2 founders? | No: One CEO founder |
| 3. Has product in the market? | Yes |
| 4. 6 months of continuous user growth or 6 months of revenue? | Yes: 2018 revenue to 2019 revenue increased from $131k to $392k. |
| 5. Notable investors? | No: had an equity crowdfunding round before but no names I recognize. |
| 6. Post-funding, will have 18 months of runway? | No: Would just have 18 months if they hit maximum, but at this round with 9 days left, the chances of fundraising 18 months of runway unlikely. |
The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)
| Question | Score | Notes |
|---|---|---|
| 1. Engineering? | 3 | CRM |
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