AI SaaS company wants to help you find free parking by combining data from cars, phones, satellites, and smart city sensors.
|1. Fundraising Target?||$5000000|
|2. Fundraised So Far?||$269324|
|3. Pre-Money Valuation?||$80000000|
|4. Previous Year's Annual Revenue||$521796|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-52981|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||True: San Francisco, CA|
|2. Has at least 2 founders?||False: Two|
|3. Has product in the market?||True: Revenue generating|
|4. 6 months of continuous user growth or 6 months of revenue?||False: Revenue declined from 2019 to 2020|
|5. Notable investors?||False: None were named|
|6. Post-funding, will have 18 months of runway?||True: Needs around 900k for 1.5 years of runway|
|1. Engineering?||2||Interesting that it integrates data from cars, phones, satellites, and smart city sensors|
|2. Timing?||2||Not sure why this is a great time to build this business, with rideshare and future self driving cars|
|3. Monopoly?||2||Revenue declined so declining market share|
|4. People?||2||Team seems like it has solid technical chops, but the monetization plan still looks confusing to me|
|5. Distribution?||1||I went on the website to figure out this distribution, I think it has to go through the car or mobile app?|
|6. Durability?||2||Compiling all the sensor information to discern parking is pretty interesting|
|7. Secret?||1||The types of people who drive around searching for free parking are the types of people who will pay for an app that helps them find parking.|
What has to go right for the startup to return money on investment:
1. Revenue has to go higher; 2. Tactical partnerships; 3. Probably get bought out by some autonomous driving company in the future that needs cars to self park
What the Risks Are
1. Feature not a company; 2. Declining revenue from 2019 to 2020; 3. Investing in the 'cigar butt' as Buffett so fondly describes
Bonus Muhan's Notes
Parking truly is one of most banal activities
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