Deal Abstract

Invest in SelfDecode: AI platform that provides personalised health recommendations based on DNA, labs and environment. | Wefunder
AI platform that provides personalised health recommendations based on DNA, labs and environment.

Very early stage DNA and environment genetic sequencing company (baby 23andme) is raising money to make a more complete genetic sequencing service.

Financials (VRB)

Question Notes
1. Fundraising Target? $1273722
2. Fundraised So Far? $2000000
3. Pre-Money Valuation? $34900000
4. Previous Year's Annual Revenue $1436971
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-499746

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: Los Angeles, CA
2. Has at least 2 founders? False: Two
3. Has product in the market? True: Revenue
4. 6 months of continuous user growth or 6 months of revenue? True: Revenue grew by $200k in a year
5. Notable investors? False: None recognized
6. Post-funding, will have 18 months of runway? True: Just needs $750k

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

Question Score Notes
1. Engineering? 2 Seems like interesting technology, but decoding DNA in such a comprehensive way seems ambitious
2. Timing? 2 Technology becoming cheaper but I wonder about demand
3. Monopoly? 2 Grew to 2.7m in revenue in 2021, solid
4. People? 2 Team seems good
5. Distribution? 2 Online ordering and test results online
6. Durability? 2 If they can build it, the data is definitely defensible
7. Secret? 2 The demand for a 23andme informed by environmental development factors is large

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

1. Results have to be both specific and accurate; 2. Steal market share away from people doing DNA testing; 3. Start to give verifiably actionable preventative input

What the Risks Are

1. 23andme took 11 years to become worth 3.5bn, and that's with seed funding from the cofounder of Google; 2. How accurate can the environment get?; 3. How hard will it be for 23andme to copy the other features?

Bonus Muhan's Notes

Genetic testing company 23andMe rises in first trade after Richard Branson SPAC merger
23andMe, a genetic testing start-up that pioneered personalized medicine as a consumer business, trades under ticker “ME” in a deal with Richard Branson’s SPAC.


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