Deal Abstract

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

Famous e-sports gamer leverages his brand, audience, and production studio to develop a full strategy card game.

Financials (VRB)

Question Notes
1. Fundraising Target? $1070000
2. Fundraised So Far? $520189
3. Pre-Money Valuation? $30000000
4. Previous Year's Annual Revenue $2194514
5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) ~$-2315250

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: Long Beach, CA
2. Has at least 2 founders? False: Two
3. Has product in the market? True: Revenue generating
4. 6 months of continuous user growth or 6 months of revenue? True: Modest growth
5. Notable investors? False: No one I recognize
6. Post-funding, will have 18 months of runway? False: Needs $3m for 18 mth runway

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

Question Score Notes
1. Engineering? 1 No engineering, just a game development studio
2. Timing? 2 Good time for e-sports
3. Monopoly? 3 Great community
4. People? 5 Honestly couldn't ask for a better team
5. Distribution? 5 Fantastic distribution
6. Durability? 2 It's a game studio/media company, not much differentiation
7. Secret? 1 Game studios can make good venture bets

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

1. Launch game; 2. Print money and sell booster packs at high margins; 3. Focus on what makes money in the business

What the Risks Are

1. Split focus and attention, doing alot; 2. Videogames and media aren't venture backable; 3. Making a good game is one thing, making a crazy lucrative game is another thing

Bonus Muhan's Notes


This is where I’ll post updates about the company. This way all my notes from offering to post-offering updates will be on one page.

Review these deal memos every time the startup raises a new round

Test if original thesis still applies

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