WeWork + Daycation = DayWork, ergo, a company wants to let you rent hotel conference rooms and amenities like a coworking space by the hour.
|1. Fundraising Target?||$1070000|
|2. Fundraised So Far?||$67000|
|3. Pre-Money Valuation?||$15000000|
|4. Previous Year's Annual Revenue||$241940|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-116804|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: New York, NY|
|2. Has at least 2 founders?||False: Two|
|3. Has product in the market?||False: Revenue generating|
|4. 6 months of continuous user growth or 6 months of revenue?||False: Declined in COVID|
|5. Notable investors?||False: No one I'm seeing|
|6. Post-funding, will have 18 months of runway?||True: Needs around $200k|
|1. Engineering?||1||Creating a platform to combine WeWork + Daycation|
|2. Timing?||2||I guess it makes sense with COVID|
|3. Monopoly?||1||Not a lot of market share|
|4. People?||2||Team seems fine|
|5. Distribution?||2||Two sided marketplace means they need to get day travelers to use Hotel By Day for amenity services|
|6. Durability?||2||Not easy to build this supply of services|
|7. Secret?||1||Due to changes brought about by COVID, office workers are going to rent hotel amenities by the hour|
What has to go right for the startup to return money on investment:
1. Get hotels to start promoting these services; 2. Hotels by Day should probably team up with Airbnb; 3. Increase loyalty among power users and figure out why they stay
What the Risks Are
1. Competing against WeWork isn't easy; 2. Seasonal business as demonstrated by declining revenue; 3. Nice to have not a painkiller
Bonus Muhan's Notes
Feels like WeWork meets Daycation
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