Pre-product, pre-revenue startup that wants to turn car windows into programmable billboards.
|1. Fundraising Target?||$1070000|
|2. Fundraised So Far?||$105465|
|3. Pre-Money Valuation?||$9000000|
|4. Previous Year's Annual Revenue||$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$0|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||True: Palo Alto, CA|
|2. Has at least 2 founders?||True: Two|
|3. Has product in the market?||False: No product in market|
|4. 6 months of continuous user growth or 6 months of revenue?||False: No revenue|
|5. Notable investors?||False: Bootstrapped|
|6. Post-funding, will have 18 months of runway?||False: Don't know burn|
The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)
|1. Engineering?||4||Very cool tech|
|2. Timing?||2||Not sure why this is the moment millions of drivers are going to turn their windows into billboards|
|3. Monopoly?||1||No product in market|
|4. People?||2||No background in automobile or digital advertising|
|5. Distribution?||1||None sold and no brand|
|6. Durability?||2||Compelling network|
|7. Secret?||1||Massive amounts of car owners are going to buy their own billbooards, market themselves, and ultimately, monetize the product|
What has to go right for the startup to return money on investment:
1. Launch product; 2. Build ad network; 3. Include tracking for performance
What the Risks Are
1. Pre-product; 2. Pre-revenue; 3. Nickelytics
Bonus Muhan's Notes
Very cool product.
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
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