Solo technical founder is building a marketplace to buy/sell digital goods. Will have to solve platform challenges of what the value add is platform-wise.
|1. Fundraising Target?||$1070000|
|2. Fundraised So Far?||$81769|
|3. Pre-Money Valuation?||$5000000|
|4. Previous Year's Annual Revenue||$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-317|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Middletown, DE|
|2. Has at least 2 founders?||False: Two|
|3. Has product in the market?||True: 🏬 Marketplace is up and running with 3300+ users and 3650+ listings created|
|4. 6 months of continuous user growth or 6 months of revenue?||True: Revenue sketchy|
|5. Notable investors?||False: No one that I recognize|
|6. Post-funding, will have 18 months of runway?||True: Super early stage so no meaningful costs|
|1. Engineering?||2||Marginally butter than gumtree and other digital goods marketplaces?|
|2. Timing?||2||Not a bad time but also not a ground breaking time to start this business|
|3. Monopoly?||1||Very little users, not sure what the small market is|
|4. People?||2||Technical founder but no experience in marketplaces or monetizing this|
|5. Distribution?||1||Online marketplace|
|6. Durability?||1||Unsure how this is defensible against Amazon regifting their own cards, Gumtree reselling their own assets, etc.|
|7. Secret?||1||There's a massive amount of goods that aren't being served in the digital marketplace and Toffee is going to build a $1bn biz serving this market|
What has to go right for the startup to return money on investment:
1. Find a niche and go deep; 2. Build something defensible on the platform; 3. Eventually provide white
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