Deal Abstract

Reset IV
Bringing health and wellness with the touch of a button

Uber for IV treatments. Generated $1.3m (but allegedly $2.3m, maybe some CA/NV magic) in 2019 and raising on a $10m valuation. Clearly a luxury product, but makes one think of whether on-demand IV treatments will be like Ubers (which started with black cars,) or personal computers (which now everyone has to have in some sense, even if in the form of a smartphone.)

Thank you to Bob for sending me the deal!

Financials (VRB)

Question Notes
1. Fundraising Target? $25k-$1070k
2. Fundraised So Far? $714k
3. Pre-Money Valuation? $10m
4. Previous Year's Annual Revenue $1.3m
5. Previous Year's Annual Burn ~$24k
Offering details page 34.

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? No: Las Vegas, NV
2. Has at least 2 founders? No: One CEO who bootstrapped
3. Has product in the market? Yes
4. 6 months of continuous user growth or 6 months of revenue? Yes: 2018 revenue to 2019 revenue increased from $1.2m to $2.3m.
5. Notable investors? No: Don't see any.
6. Post-funding, will have 18 months of runway? Yes: Revenue of $2.3m stated and whats on the sheets doesn't look consistent. That said, using sheet, it seems the company is sustainable, since they "lost 24k" in 2019 and have already raised $714k.

The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)

Question Score Notes
1. Engineering? 2 Not an engineering play, more of a distribution play
2. Timing? 2 Health and wellness is good, as is on-demand. But I'm uncertain if this is the time where IVs take off.
3. Monopoly? 3 Seems like they've definitely got a high market share of the IV to your door market. But will this grow? Also, what will make IV costs go down like Uber went Uber Black to XL

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