Deal Abstract

Invest in MyndVR
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VR company is building hardware/software/production house for VR experiences for the elderly. Strong recurring revenue for selling to elder care communities.

Financials (VRB)

|1. Fundraising Target? |$1070000|
|2. Fundraised So Far?|$73129|
|3. Pre-Money Valuation?|$8000000|
|4. Previous Year's Annual Revenue |$139781|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) |~$-703321|


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

Criteria Yes/No
1. A startup that is based in SV? False: Flower Mound, TX
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: Rev grew from 59 to 139k
5. Notable investors? True: Capital Factory def a regional player, HTC is a faded glory kind of deal (HTC Vive?)
6. Post-funding, will have 18 months of runway? True: Just at 18 months if $1m raised

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

Question Score Notes
1. Engineering? 2 Company that is allegedly developing hardware and software, but why this company over Oculus?
2. Timing? 3 Hard to get better timing than COVID
3. Monopoly? 3 Good traction
4. People? 2 Company has solid media backgrounds but no hardware chops
5. Distribution? 3 Selling to retirement homes the real gem here
6. Durability? 3 Focusing on building a brand for
7. Secret? 3 Old people, with money, in large quantities, are going to get their kicks through virtual reality

What has to go right for the startup to return money on investment:

1. Old people have to not be luddites; 2. Get really good at both hardware and software, and figure out what the core business is here; 3. Don't incur high servicing costs

What the Risks Are

1. Does the market want this? What's prevented Vive/Oculus/Google Cardboard to take this to market? 2. Attacking media, software, and hardware could mean lack of focus; 3. Market is not growing fast enough

Bonus Muhan's Notes

Very, very cool. Hope they can crack this market.


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