Hardware/game studio combo wants to become the Peloton/Ready Player One for real. Already has shipped over 4000 units to 500 venues in 45 countries. Doubled revenues in the last year, with over $10m worth of product sold.
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||No: Austin, TX|
|2. Has at least 2 founders?||No: Looks like just the CEO has 5.5m shares on teh cap table|
|3. Has product in the market?||Yes|
|4. 6 months of continuous user growth or 6 months of revenue?||Yes: $3.8m vs. $1.6m|
|5. Notable investors?||Yes: Mark Cuban, Capital Factory (same as Hidrent,) with twenty other VC's. Notably, no big VC's that I know.|
|6. Post-funding, will have 18 months of runway?||Yes:Targeting $10mm, $3.5mm burn in 2020 (incomplete year,) which is 34 months of runway.|
|1. Engineering?||5||Seems phenomenal|
|2. Timing?||5||Lots of people staying in doors for COVID|
|3. Monopoly?||5||Not sure I know any other product in the immersive home VR space|
|4. People?||3||Good that CEO isn't just a product guy, but neither leadership has experience in selling consumer electronics, game studio development, and not too much said about other teammates.|
|5. Distribution?||4||1 million email list! Direct to consumer woohoo.|
|6. Durability?||2||Thinking of the other VR headsets I know, e.g. Facebook Oculus, Microsoft HoloLens, etc. Uncertain which part of this company|
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