- Hard to argue with a business that went from $0 to $1MM in revenue in a year.
- Super boring business model that I understand.
- Lean team and great margins.
I figured out how to add highlights in Gutenberg via HTML:
<ul> <li> <span style="background-color: rgb(232, 234, 235);"> <b><i>Good: </i></b> <i>Smile Direct Club raised $380 million at a valuation of $3.2 billion in October 2018.</i> </span> </li> </ul>
|1. Ssyndicate lead has >5 years investing and >1 unicorn investment||Fail|
|2. A startup that is based in SV||Fail (Holladay/Salt Lake City, Utah)|
|3. Has at least 2 founders||Pass|
|4. Has product in the market||Pass: Yes|
|5. 6 months of continuous user growth or revenue.||Pass: Revenue grew from $0 to $1MM in 2018|
|6. Notable investors?||Fail: Bootstrapped, heck yeah|
|7. Post-funding, will have 18 months of runway||Pass: Yes, incurred 113k in second half of 2017, so 226k annual, raised $738k.|
|8. Proprietary technology?||Fail|
|9. Network effects?||Fail|
|10. Economies of scale?||Pass|
|11. Great branding?||Pass: (Huzzah for UX cofounder)|
- The Engineering question:
- Bad: betting on the kiosk
- The Timing question:
- Good: Smile Direct Club raised $380 million at a valuation of $3.2 billion in October 2018.
- The monopoly question:
- Bad: not sure why this would be a winner-take-all market. Should be a fairly profitable and straightforward e-commerce play.
- The people question:
- Good: Startup professionals who were both reasonably senior at exit to start this company. Bootstrapped.
- The distribution question:
- Good (with a catch): Smile Love is making a big bet on these kiosks. Uncertain what a growth channel this will be. Otherwise, online economics are good.
- The durability question:
- Bad (by default): not sure how much innovation is going on in the teeth aligning space. Unless someone
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