Deal Abstract

Invest in Janover Ventures
Republic is a startup investing platform where you can invest as little as $10 in impactful startups

OwnUp.com for commercial real estate financing. Fundraising $1m on a $20m valuation. Has revenues of $531k from network of websites that drive traffic to them. Profitable. Strangely, claims to have a team of 20 (full-time? part-time?) on a burn of only ~$376k or something. I tested the product and didn't get a response.

Thank you to Krishna and Giuseppe for sending me the deal!

Financials (VRB)

Question Notes
1. Fundraising Target? $25k-$1070k
2. Fundraised So Far? $449k
3. Pre-Money Valuation? $20m
4. Previous Year's Annual Revenue $531k
5. Previous Year's Annual Burn ~(-)$92k
Janover Ventures Form C:A.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? No: Boca Raton, FL
2. Has at least 2 founders? No: One CEO, bootstrapped
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 $0 to $500k.
5. Notable investors? No: Bootstrapped.
6. Post-funding, will have 18 months of runway? Yes: Profitable, so can reun in perpetuity by default.

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

Question Score Notes
1. Engineering? 2 Using a platform to bridge marketplace, nothing revolutionary
2. Timing? 2 Good, this is the commercial version of OwnUp.com, but not sure if the market of B2B is as amenable to commoditization.
3. Monopoly? 2 Never heard of Janover before this deal. Commercial financing is very fractured.
4. People? 2 One founder seems fine, but not


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