- Raising
- $585Kseed round, as reported
- Post-money
- ~$2.4Mas reported
- Revenue
- ~$4K/mofounder-reported, barely profitable
- Launches so far
- 3in 18 months
The signal
The founders have kept the company alive by designing and hand-selling novelty breakfast cereal at $40 a box. The cereal has out-earned the product.
The bear case
Growth flatlined for months. The founders are financing operations on personal credit cards. Of seven investors pitched last year, five passed and two never replied. The premise requires strangers to pay to sleep in other strangers' homes.
Fixed check, one tap, no term sheet. Decide, and the card opens up: the real name, the round-by-round path, the dollars — with a citation on every number.