Drip founder pitches an AI hydration app that tracks athlete performance through easy-to-read analytics. She projects $444,000 revenue by year-end despite being pre-revenue. Investors vote no, saying the problem isn't clear enough and customer acquisition costs are too high.
This founder is trying to convince this investor to take a follow-up meeting and invest $100,000 in her business. You have 60 seconds. You ready to do this?
Yep, I'm ready.
What is the name of your business?
Drip.
What is your business in one sentence?
Drip is an AI software company that helps you stay hydrated so you don't drop.
What is the problem that you're solving?
Currently, no one is optimizing the core components of human performance.
What is your specific solution?
We offer easy-to-read data, digestible analytics, and actionable insights that allow people to apply into their life.
How do you make money?
Uh, we offer a freemium model. to paid subscription that unlocks additional features.
And how much will you do in revenue this year?
Pre-revenue currently, we will unlock about $444,000 in revenue by the end of this year.
It is time. Vinny, is this a go or a no-go? It's a no-go.
Now, my feedback on the pitch is I'm not actually totally clear on what the problem is, even though it's clear that you're a badass and hydration's a big problem. My experience with businesses like this is that the acquisition cost has been high.
SF startup Eve just raised $103 million led by Spark Capital with backing from a16z and Lightspeed.
