Winc Deal Memo (September 2020)

Retrospective deal memo for Winc. Raised $4.87MM on $110MM valuation earlier this year in March. Now raising again directly again on their website at $1.75/share, with total outstanding shares of $86M meaning a $150MM valuation if they sell all shares at that price. Had no meaning financial growth from 2014 to 2019.

Juked Deal Memo (September 2020)

ESPN for e-sports. Wants to compete again Twitch, Discord, DraftKings/ESPN, to become the one stop shop for all fanatic engagement. Pre-revenue, but has a strong team of founders and investors including founders of Blizzard, lead investor from Twitch’s Series A. Has only raised half a year of runway to date.

FuelGems Deal Memo (September 2020)

Scientific innovation that claims to save fuel by up to 8%, increases lubrication, decreases dangerous emissions up to 50%. Technology claims to be 800x more effective than competing fuel additives and is priced up to 20x lower. Pre-revenue potential vitamin-not-painkiller that is mainly a team of academics, with no one experienced in B2B sales for energy companies or commercializing scientific innovations.

Rad Intelligence Deal Memo (September 2020)

Managed marketplace for advertisers to find influencers who will repost their content. Generated $125k in revenue in Q4, tripling revenue in a quarter. Has some tricky issues to resolve whether serving the most inexpensive market is a sustainable business, and whether the value hypothesis of streamlining content doesn’t eviscerate influencer value add.

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