Social network for weed consumers, producers, vendors, and industry. Is the future not just one LinkedIn but many different LinkedIns for different verticals?
|1. Fundraising Target?||$1500000|
|2. Fundraised So Far?||$544980|
|3. Pre-Money Valuation?||$8000000|
|4. Previous Year's Annual Revenue||$111012|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-657803|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Denver, CO|
|2. Has at least 2 founders?||True: Two|
|3. Has product in the market?||True: Revenue generating|
|4. 6 months of continuous user growth or 6 months of revenue?||True: Revenue grew from $6k to $111k, 2018 to 2019|
|5. Notable investors?||False: No one I recognize|
|6. Post-funding, will have 18 months of runway?||True: Will need roughly $900k for 18 months runway|
|1. Engineering?||1||Looks like a specialized version of LinkedIn|
|2. Timing?||1||Not sure why having a specialized version of LinkedIn right now is advantageous|
|3. Monopoly?||3||Strong traction in a very niche market|
|4. People?||2||Good executive team but no one with social network business experience|
|5. Distribution?||3||Strong traction implies good distribution|
|6. Durability?||2||If weed gets completely destigmatized, does that mean LinkedIn eats Leafwire's lunch?|
|7. Secret?||1||Leafwire is going to provide cover for a taboo industry of marajuana and ultimately becomes the LinkedIn for all ugly jobs that don't live on LinkedIn|
What has to go right for the startup to return money on investment:
1. Reach dominant position in marajuana; 2. Expand beyond marajuana; 3. Clarify what the business is.
What the Risks Are
1. This business is destined to sunset as ugly jobs become increasingly more accepted e.g. weed
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