Deal Abstract

Shoot My Travel
Marketplace connecting customers and professional photographers across the world

Financials (VRB)

Question Notes
1. Fundraising Target? $1070000
2. Fundraised So Far? $242246
3. Pre-Money Valuation? $6000000
4. Previous Year's Annual Revenue $37213
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-542625

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: Miami, FL
2. Has at least 2 founders? True: Two
3. Has product in the market? True: Has revenue
4. 6 months of continuous user growth or 6 months of revenue? False: Rev declined from 2019 to 2020, $174 to $37
5. Notable investors? True: Jason Calacanis
6. Post-funding, will have 18 months of runway? True: Needs $750k for 1.5 years of runway

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

Question Score Notes
1. Engineering? 2 Verified marketplace for photographers, more of a market than an engineering innovation
2. Timing? 2 Marketplaces for dayz
3. Monopoly? 1 Revenue low and decreased from 2020 to 2019
4. People? 3 Good team, but no one who appears to have marketplace experience
5. Distribution? 3 Online marketplace that controls distribution
6. Durability? 2 What are the sticky features of the platform keeping things to Angle instead of Thumbtack or other gig platforms?
7. Secret? 2 In the age of the selfie, the demand of photographers on demand and verified platforms is going to grow at a venture scale

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

1. Revenue has to grow; 2. Sticky features to staying on the platform; 3. Booking recurring revenue/partnerships with certain types of events

What the Risks Are

1. Nothing defensible and nothing unique services being offered to photographers; 2. Photographers on demand are a feature/complement for a bigger platform (e.g.; 3. Size of demand for photography services is not growing at venture size

Bonus Muhan's Notes

I know this company from Miami! Will need to ask more and get more insight into their business.

WhereBy.Us deal memo is here.


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