As your friends have pitched you, there's finally an app that aggregates all the prices from all the rideshares.
|1. Fundraising Target?||$535000|
|2. Fundraised So Far?||$435794|
|3. Pre-Money Valuation?||$19500000|
|4. Previous Year's Annual Revenue||$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-925678|
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?||True: Has product in market|
|4. 6 months of continuous user growth or 6 months of revenue?||True: Really strong user base but no revenue|
|5. Notable investors?||True: Plug and Play Center|
|6. Post-funding, will have 18 months of runway?||False: Burned a lot of money|
|1. Engineering?||1||This is aggregating other rideshare app value, no value creation independently|
|2. Timing?||1||Not sure why now is the right time for this business|
|3. Monopoly?||3||Strong users|
|4. People?||2||Good work experience but no background in rideshare startups|
|5. Distribution?||4||Really strong distribution surprisingly|
|6. Durability?||2||What's to stop another aggregator from popping up?|
|7. Secret?||1||Creating an aggregator for rideshare is a good business model|
What has to go right for the startup to return money on investment:
1. Monetize; 2. Continue sustainable CAC; 3. Create value in addition to just aggregating it
What the Risks Are
1. No business model; 2. No independent value creation; 3. Google Maps already has Uber/Lyft estimates
Bonus Muhan's Notes
This is where I’ll post updates about the company. This way all my notes from offering to post-offering updates will be on one page.
Review these deal memos every time the startup raises a new round
Test if original thesis still applies
Notice trends in how you think
So, did I invest?Click here to find out.
Other thoughts, questions, comments, or concerns? Write me at firstname.lastname@example.org and let me know.