Deal Abstract

Invest in TapRm
Republic is a startup investing platform where you can invest as little as $10 in impactful startups

Shopify for Beer! What this means is not only is it helping provide delivery, but also partnering and giving data back to brewers.

Financials (VRB)

|Question|Notes|
|---|---|---|
|1. Fundraising Target? |$1070000|
|2. Fundraised So Far?|$196348|
|3. Pre-Money Valuation?|$14000000|
|4. Previous Year's Annual Revenue |$625468|
|5. Previous Year's Annual Net Income (Positive means Profitable, Negative means Burning Cash) |~$-483834|

Source

The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)

Criteria Yes/No
1. A startup that is based in SV? ****: Brooklyn, NY
2. Has at least 2 founders? ****: Two
3. Has product in the market? True:
4. 6 months of continuous user growth or 6 months of revenue? True: 2018 rev grew from $182k to $625k in 2019
5. Notable investors? ****: Didn't show any institutional investors
6. Post-funding, will have 18 months of runway? True: If they raise $750k then they have 1.5 years
Source

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

Question Score Notes
1. Engineering? 3 TapRm is appears to be the Shopify of Beer, adding the support on the regulatory and digital marketing space
2. Timing? 4 eCommerce, beer, for sure
3. Monopoly? 2 I know some friends in NYC who use TapRm, but otherwise I know the alcohol delivery services better a la Drizly
4. People? 2 Founder has the right background, but not seeing much of a team
5. Distribution? 2 eCommerce is good, the tricky part here is navigating regulatory burden in each state
6. Durability? 4 If they can build this out in all 50 states, absolutely for sure, even Amazon can't do beer delivery yet
7. Secret? 3 By leveraging a legal background to navigate ecommerce laws for beer companies, TapRm can become the Shopify of beers.

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

1. Get ridiculously good at navigating


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