This is NOT investment advice.
Investing in startups is risky whether it is via StartEngine or any of the other platforms. Liquidity may or may not be an option for an extended period of time.
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Let's see if we can toss out a name or two on a monthly basis for people to debate and evaluate and see if this is useful. At times, we have only one name or zero. We understand some may feel the need to "do something" or "pull the trigger" or "just buy something to allocate and diversify" but we don't see it that way.
The types of firms that typically catch our attention are generally based on seeking a potential "bet a little, win a lot" approach where we seek potential "winner takes all or most" outcomes. We tend to focus on those and avoid battles with low barriers to entry UNLESS the firm is simply executing at a very high level and clearly advancing to a few different potential exits.
Full Disclosure: I did obtain equity in this firm during it's first raise on SE.
Here are a few snippets from the offering:
Here's my very stripped down and basic take with adding some here in this round:
- Company has made nice progress since the first raise in building out the network, station growth from 45k to over 80k
- continue to build proprietary weather data network using installed base of stations
- revenue growth muted with still heavy reliance on hardware
- gross margins overall expanded with product mix adding more software related sales
Seems like they are building something nice here. According to the company, they compete with many but few to none directly in terms of what they are trying to achieve. $50 Million in lifetime revenue. 5M users. 150,000 customers giving them money. There's something here and it's time to ramp up the B2B API and SaaS side of the business while continuing to let the network grow and expand with hardware/software.
Valuation: Depending on what they publish for 2024, might be trading at less than 4 times revenues. Will this business survive and make it over the next 5 years? I say yes.
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