Bill Gross, founder of IdeaLab, has teamed up with a CEO to found an autonomous scooter for ride and delivery.
|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)
|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|
|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|
|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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Review these deal memos every time the startup raises a new round
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