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