Image analysis peeps are tackling foundation color identification to assist the ecommerce beauty transition. Pre-revenue and will be interesting to see growth trajectory.
|1. Fundraising Target?||$1500000|
|2. Fundraised So Far?||$20000|
|3. Pre-Money Valuation?||$7000000|
|4. Previous Year's Annual Revenue||$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-159640|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Vancouver, WA|
|2. Has at least 2 founders?||False: Two|
|3. Has product in the market?||True: Increased a leading online beauty retailer's foundation purchase conversion rate by 5x in a 20-day period (from the retailer's reported 2.3% YTD average to 13.16%)|
|4. 6 months of continuous user growth or 6 months of revenue?||False: No revenue|
|5. Notable investors?||False: No one I recognize|
|6. Post-funding, will have 18 months of runway?||True: Likely to raise 18 months of runway|
|1. Engineering?||4||Not sure if perfect perfect, but targeted image recognition def better than existing solutions imo (though I'm not the market)|
|2. Timing?||2||Good time to build this technology with smartphone cameras and ecommerce|
|3. Monopoly?||2||Has adoption but customers aren't paying for it yet|
|4. People?||2||Engineering heavy team which is good but no obv experience selling SaaS to big beauty companies|
|5. Distribution?||2||B2B sales and no unfair advantage from what I can see|
|6. Durability?||3||If can be built, very, very defensible|
|7. Secret?||3||The convergence of image recognition, smart phone sensors, and ecommerce makes this the best time to build this company.|
What has to go right for the startup to return money on investment:
1. Product has to be accurate in the skin tone matching; 2. Generate additional sales
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