Deal Abstract

Rollo Motion
Tech-driven delivery platform with autonomous and hybrid operation

Bill Gross, founder of IdeaLab, has teamed up with a CEO to found an autonomous scooter for ride and delivery.

Financials (VRB)

Question Notes
1. Fundraising Target? $5000000
2. Fundraised So Far? $158384
3. Pre-Money Valuation? $20164146
4. Previous Year's Annual Revenue $24026
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-1750806

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

Criteria Yes/No
1. A startup that is based in SV? False: Pasadena, CA
2. Has at least 2 founders? True: Two
3. Has product in the market? True: Revenue generating
4. 6 months of continuous user growth or 6 months of revenue? True: But very modest revenue
5. Notable investors? False: No one I recognize
6. Post-funding, will have 18 months of runway? True: If they can raise the money

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

Question Score Notes
1. Engineering? 3 Engineering first product
2. Timing? 3 Good time for autonomous vehicles
3. Monopoly? 1 Very modest revenue
4. People? 3 Good CEO and Chairman
5. Distribution? 1 D2C?
6. Durability? 3 Building an autonomous scooter requires lots of data
7. Secret? 2 Selling autonomous scooters and delivery scooters is an underpriced venture size market

What has to go right for the startup to return money on investment:

1. Scale revenue; 2. Identify whether B2B or B2C is real business; 3. Develop product cost efficiently

What the Risks Are

1. Overpriced; 2. Hardware is very capital intensive; 3. Unclear what the market is

Bonus Muhan's Notes


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