#2/2019

“I don’t know the future and I may be wrong, but this is what I’m doing with my time and money…"

Deals 

Berlin-based proptech startup Zenhomes raises €13 million for its digital tenant management platform (eu-startups.com)
  • To create an ecosystem of connected, digital platforms bringing together landlords, tenants, and service providers such as craftsmen or real estate agents
  • Together, we are creating the first comprehensive digital platform for all parties in the real estate industry
  • Relevant as competition to our startup Sharry Europe

Hungarian Commsignia just received a $11 million investment to make roads more safe and traffic more efficient (eu-startups.com)
  • Market leader in V2X (Vehicle-to-Everything) solutions, announced the closing of a $11 million fundraising round led by Karma Ventures (Estonia) and the Samsung Catalyst Fund (US)
  • Improves road safety and traffic efficiency by using remote sensor data from other vehicles, infrastructure cameras and other sources to allow cars to see beyond their line of sight
  • Existing investors include Credo Ventures and Day One Capital (Hungary)

Spain-based 1MillionBot Raises €1.5M to Develop More Educational & Marketing Chatbots (edtechreview.in)
  • Develops specialized chatbots for different sectors, which can integrate with various applications guaranteeing a percentage higher than 90% of correct answers
  • The startup’s most recent chatbot for sexual health, which is still in beta, uses natural language processing and deep learning techniques to provide users with real-time sexual and reproductive health information


News

Appear.in has a new name: Introducing Whereby (medium.com)
  • There was a trademark dispute over the old name that resulted in us no longer being able to use it. Instead of pursuing further legal process we would much rather spend our time building a great product for you

New $47M fund, Fil Rouge Capital, is ready to boost Croatia’s growing startup scene (techcrunch.com)
  • The fund aims to run over the next four and a half years until the end of 2023, and plans to invest in up to 250 companies operating in Croatia
  • Three investment stages: “The Startup School” for super-early-stage companies; “The Accelerator Program” for companies that are still early but already up and running; and more full-blown institutional funding-ready companies requiring capital up to €1.5 million


Reading

I’m a Superstitious Man (epsilontheory.com)
  • “I’m a superstitious man, and if some unlucky accident should befall him — if he should get shot in the head by a police officer, or if he should hang himself in his jail cell, or if he’s struck by a bolt of lightning — then I’m going to blame some of the people in this room.” - Vito Corleone, The Godfather
  • Epstein’s direct testimony had the potential to create a Common Knowledge moment like the one that destroyed Harvey Weinstein through the direct testimony of Rose McGowan. Jeffrey Epstein’s books and records are not. The individual voices of Jeffrey Epstein’s victims are not
  • It’s the non-corrupt State’s one job to keep Epstein alive for trial, and everyone knows that everyone knows this is their one job.

  • In S-1 "Adam" (as in Neumann) is mentioned 169 times, vs. an average of 25 mentions for founder/CEOs in other unicorn prospectuses
  • Adam has several family members working in the business who make “less than $200,000."
  • Adam owns 10 buildings, several that he leased to WeWTF at a handsome profit. Adam also owned the rights to the "We" trademark, which the firm decided they must own and paid the founder/CEO $5.9 million for the rights
  • It’s about raising money short (customers who can stop buying your product service soon/tomorrow) and investing money long (10-year leases). WeWTF is an especially risky business going into a recession, when the ability to variabilize costs is limited, but revenue decline is unlimited. WeWTF has $47 billion in long-term obligations (leases) and will do $3 billion in revenue this year.
+USV bonus
  • Tumblr is being sold for $3 million, a 99.7% destruction of the $1.1 billion Yahoo paid for the porn site in 2013
  • "what happened to Tumblr?" Nothing happened to Tumblr. Yahoo didn't mess it up, neither did Verizon. This was a porn site wrapped in creative paper that David Karp and Fred Wilson pumped and dumped to a desperate CEO of an aging internet firm
  • $250 million from a $400,000 investment in a porn site. Who has registered a greater IRR/return from porn, in the history of business, than Union Square Ventures?


In case you are interested in helping us with evaluating some companies and industries or you just want to discus any of these articles, feel free to reach out to Roman from Presto Ventures at roman@prestoventures.com or Linkedin.

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