Deal Abstract

Invest in Scooterson
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Serial entrepreneur takes his drone experience to re-engineering the electric scooter.

Financials (VRB)

|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)

Criteria Yes/No
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

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

Question Score Notes
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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