Deal Abstract

Zeehaus Inc.
Real Estate Equity Sharing Marketplace

Bitcoin powered real estate investment platform with also a rent to own feature. Product still in development, pre-revenue.

Financials (VRB)

|1. Fundraising Target? |$535000|
|2. Fundraised So Far?|$516085|
|3. Pre-Money Valuation?|$7200000|
|4. Previous Year's Annual Revenue |$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash) |~$-243020.87|


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

Criteria Yes/No
1. A startup that is based in SV? True: San Francisco, CA
2. Has at least 2 founders? False: Two
3. Has product in the market? False: Product still under development
4. 6 months of continuous user growth or 6 months of revenue? False: Pre-revenue
5. Notable investors? False: None that I see
6. Post-funding, will have 18 months of runway? True: If they can raise $450k they'll have 18 months of runway

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

Question Score Notes
1. Engineering? 1 Blockchain powered REIT
2. Timing? 1 Not sure why now is the right time for blockchain powered REIT
3. Monopoly? 1 No product in market
4. People? 1 CEO is fine but only one person
5. Distribution? 1 No customers
6. Durability? 1 Other REITs can come in and compete
7. Secret? 1 Blockchain managed REITs will meaningfully save on investment costs and pass the savings to investors

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

1. Get proprietary dealflow for real estate network; 2. Technology has to work, potentially sell/license technology to others; 3. Go to market and monetize

What the Risks Are

1. Vision is wrong; 2. No innovation; 3. Burned $500k in development and no compelling revenue yet

Bonus Muhan's Notes

With my background in real estate, I'm struggling to see the innovation here.


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

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So, did I invest?

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