Deal Abstract

Invest in Hearo.Live
Republic is a startup investing platform where you can invest as little as $10 in impactful startups

CTO of the Sims is switching positions to CEO and pioneering a livestreaming app/technology that allows non-gamers replicate the gamer livestreaming experience. No revenue, but has notable investors and relevant industry experience.

Financials (VRB)

|Question|Notes|
|---|---|---|
|1. Fundraising Target? |$1m|
|2. Fundraised So Far?|$550k|
|3. Pre-Money Valuation?|$12.5m|
|4. Previous Year's Annual Revenue |$0|
|5. Previous Year's Annual Burn |~$419k|

Hearo Live Form C.pdf

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? Yes: San Francisco, CA
2. Has at least 2 founders? No: One founder
3. Has product in the market? No: couldn't find in the app store "Hearo.live" for iOS
4. 6 months of continuous user growth or 6 months of revenue? No: see above.
5. Notable investors? Yes: 500 Startups, some famous names but nothing that blew me away
6. Post-funding, will have 18 months of runway? Yes: If can raise $1m, then will have runway.

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

Question Score Notes
1. Engineering? 2 Can't evaluate as video had no recordings, but how is this better than Discord/Twitch?
2. Timing? 2 Good timing for livestreaming, not sure this is good timing for mass mutual livestreaming/watching of television?.
3. Monopoly? 2 I've heard of this company but don't know anyone who owns one, that said, I'm not the market?
4. People? 2 I like that the CEO has tech experience but wish the VP was a co-founder so incentives were more equal.
5. Distribution? 2 Good in that it's digital distribution, but no unfair advantage to get users..
6. Durability? 2 See competitive defense against Discord/Twitch, etc..
7. Secret? 2 Gamers were the first to figure out constant on audio/livestreaming bonding and the rest of us


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