Another Janover Ventures, but with significantly better fundamentals. But is it venture backable?
|1. Fundraising Target?||$1700000|
|2. Fundraised So Far?||$1551192|
|3. Pre-Money Valuation?||$13800000|
|4. Previous Year's Annual Revenue||$1219316|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$159011|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Newark, NJ|
|2. Has at least 2 founders?||True: Two|
|3. Has product in the market?||True: Revenue generating|
|4. 6 months of continuous user growth or 6 months of revenue?||True: $892k to $1219k from 2019 to 2020|
|5. Notable investors?||True: Backed by Techstars, Newark Venture Partners, and real estate industry executives|
|6. Post-funding, will have 18 months of runway?||True: Appears to be profitable|
|1. Engineering?||3||Real techies coming in to solve this problem|
|2. Timing?||3||OwnUp for commercial real estate|
|3. Monopoly?||3||Really strong revenue numbers|
|4. People?||4||Strong techie team|
|5. Distribution?||2||No crazy unfair advantage, but digital native marketing strategy|
|6. Durability?||3||Big data play|
|7. Secret?||2||Commercial mortgage and financing is going to go digital transformation at a venture paced speed|
What has to go right for the startup to return money on investment:
1. More real estate professionals have to go digital native; 2. Find the power users and exploit those who need constant new financing; 3. Monetize a pricing engine
What the Risks Are
1. Commercial real estate financing to digital transformation is not venture back-able development, 2. New technology for mortgage quote a nice feature but not a painkiller product; 3. Some mortgage brokers get their act together or get acquired by another fintech company and digitize their rolodexes (though I confess this last one is a stretch to me.)
Bonus Muhan's Notes
So cool. Need to ask against Janover Ventures.
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