Spot check Zillow in most areas and you will see listing volumes increasing, existing listings dropping price, and many substantially below delusional Zestimate.
1. Revenue is only $125m
2. Revenue growth has not plateaued
3. There is user value and multiple value in an all in one offering
4. Distribution will be hard exceptionally hard, going up against a thought leading, financially solvent, Founder led organization with a proven solution.
...Thus, your unbundled solution must be exceptionally better for a few million dollars in aspirational revenue. Otherwise, so distinctly different that it is not really a competitor.
As a past customer, this is simply a great company with many Greenfields ahead in the space and some of the best leadership I've crossed in the Valley.
The sad fact of this chart is that a trivial amount of money is going into seed stage. The flow of funds needs to invert. If there was any break through technology at the seed stage you would have market pull of an unparalleled magnitude relative to any other sector. Fact is not enough shots on goal and climate tech is almost always unprofitable at all scale(so far).
I've formed multiple teams of technical Cofounders, starting on the business side. His initial offer seems extraordinarily low and naïve, unless your technical skills are not considered essential by them(at which point you may want to run on this alone). If you have faith in the opportunity and not your fit with it, invest your money, not your time and reputation.
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With Russia accused of war crimes in Ukraine, the streaming platform finds itself increasingly isolated as Western companies abandon the pariah state.