Husband and wife have built a patented beauty accessory for customers with textured hair. Inspiring story of perseverance and innovation in entrepreneurship, their next step is building the beachhead into a brand that owns beauty products across multiple beauty markets.
|1. Fundraising Target?||$1070000|
|2. Fundraised So Far?||$129776|
|3. Pre-Money Valuation?||$5000000|
|4. Previous Year's Annual Revenue||$1997203|
|5. Previous Year's Annual Burn||~$186478|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Marietta, GA|
|2. Has at least 2 founders?||True: Two|
|3. Has product in the market?||True:|
|4. 6 months of continuous user growth or 6 months of revenue?||True: $829k in 2018 to $1.997m in 2019|
|5. Notable investors?||False: Bootstrapped, compelling narrative navigating predatory finance system in the US|
|6. Post-funding, will have 18 months of runway?||True: Profitable!|
|1. Engineering?||4||I myself am not the market, but checks out that the product is significantly better|
|2. Timing?||3||eCommerce, long tail, good time to solve deep pain points for more specific customer profiles|
|3. Monopoly?||2||Not the market, only hearing of it now. That said, I feel like this concept isn't strange to me/has surfaced before.|
|4. People?||4||Definitely right people. The only people asset you'd wish to take this to the next level are executives with CPG experience.|
|5. Distribution?||3||eCommerce! Also interesting partnerships with SallyBeauty.|
|6. Durability?||3||Patents are good, but not conclusive in defense. Company needs to build brand and develop more products.|
|7. Secret?||3||Textured hair products/beauty products for traditionally underserved markets is going to be an enormous growth market in the coming years.|
What has to go right for the
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