Serial entrepreneur takes his drone experience to re-engineering the electric scooter.
|1. Fundraising Target? |$0|
|2. Fundraised So Far?|$102650|
|3. Pre-Money Valuation?|$19000000|
|4. Previous Year's Annual Revenue |$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) |~$-954050|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||True: San Francisco, CA|
|2. Has at least 2 founders?||True: Two|
|3. Has product in the market?||False: No revenue|
|4. 6 months of continuous user growth or 6 months of revenue?||False: See above|
|5. Notable investors?||True: I recognize Sean O'Sullivan's accelerator SOSV but confess to not remember any famous investments they've had|
|6. Post-funding, will have 18 months of runway?||False: At present it's not looking like it|
|1. Engineering?||1||Marginally better than existing electric scooters at first blush|
|2. Timing?||2||Why is now the best time to compete with Bird?|
|3. Monopoly?||1||No product in the market|
|4. People?||2||Good entrepreneurial background but no one with B2B or B2C sales experience in hardware mobility|
|5. Distribution?||1||Online sales? Distributors? Not in market.|
|6. Durability?||1||Not much recurring revenue also bikeshares?|
|7. Secret?||2||The future isn't bikeshare/scootershare networks but privatized scooters instead|
What has to go right for the startup to return money on investment:
1. More of the world is ready for privatized electric scooters instead of sharing economy/leasing economy; 2. Go to market successfully; 3. Service for the scooters
What the Risks Are
1. Hardware play and risks that the money isn't the scooter but the mobility service; 2. Customer service costs scale upwards; 3. Bikeshare and other mobility share systems make an engineeringly inferior but network stronger solution.
Bonus Muhan's Notes
Very cool and wish I could ride one to test it!
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