Deal

https://www.seedinvest.com/pongalo/bridge

Decision

Yes.

Calacanis

CheckPass/Fail
1. A syndicate lead who has been investing for at least five years and has at least one notable, unicorn investmentFail: Not sure who the syndicate lead is, this question may be defunct for all SeedInvest deals
2. A startup that is based in Silicon ValleyFail: No, this startup is based in Los Angeles, CA.
3. A start that has at least two founders (with two, you have a backup in case one quits)Fail: No. One founder. Two previous co-founders both left the business and returned equity with non-competes. 
4. A startup that has a product or service that is already in the market (you’re not qualified to invest in startups that haven’t released their products—and frankly you don’t need to take this risk.)Pass: Had 1.8MM in revenue for 2016, $836k revenue in 2017. (Decrease in revenue?!)
5. A startup that has either (a) six months of continuous user growth or (b) six months of revenue.Pass: Has six months of revenue, and has grown 400% from May to July (upon releasing new ad-sponsored product)
6. A startup that has notable investors.Pass: 500 Startups, and several big wigs in media.
7. A startup that, post-funding, will have eighteen months of cash remaining, commonly referred to as runway (ask the founder and syndicate lead how many months of runway they will have post-funding)Pass: Yes, $20k in burn a month, $480k raised, so 24 months of funding at current burn (though burn will increase for growth.)

Why Investing

  1. As someone who is bilingual, I personally know the draw of content and media in an ethnic/non-English language. Although I am not a customer of these services


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