Deal Abstract

Invest in SnapDNA
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Food and science executives have come up with a new way to test food for safety that can bring testing from days to hours. Pre-revenue and has a good deal of questions to answer in the quest to monetize.

Financials (VRB)

|1. Fundraising Target? |$1070000|
|2. Fundraised So Far?|$364100|
|3. Pre-Money Valuation?|$28000000|
|4. Previous Year's Annual Revenue |$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) |~$-695911|


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: Mountain View, CA
2. Has at least 2 founders? True: Two
3. Has product in the market? False: Only forecasts
4. 6 months of continuous user growth or 6 months of revenue? False: No revenue yet
5. Notable investors? False: Kept it vague
6. Post-funding, will have 18 months of runway? True: Yes, just barely

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

Question Score Notes
1. Engineering? 3 Can bring testing of food safety from days to hours
2. Timing? 1 Not sure why food companies are incentivized to adopt this at this precise moment
3. Monopoly? 1 Nothing in the market yet
4. People? 2 Seem like fine executives, but not generating revenue and having no obvious wins somewhat concerning
5. Distribution? 2 Has to partner with big companies that will adopt innovation
6. Durability? 3 Very durable, assuming technology is good
7. Secret? 2 SnapDNA's new technology is 10x better, solves enough pain points, and will grow to a billion dollar business

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

1. Monetize and go to market; 2. Become a painkiller not a vitamin; 3. Nurture relationships with large companies to buy

What the Risks Are

1. Pre revenue; 2. Highly dependent on B2B adoption; 3. Speed of scale

Bonus Muhan's Notes


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