The Ledger
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Gulati: Jiobit beaconing tech is more powerful in other verticals
“I would argue that your progressive beaconing technology is actually way more powerful in like, you know, any other vertical besides the one that you've chosen.”
Altucher passes: $15M valuation limits angel upside on a realistic acquisition
“For me they're a venture capitalist. I'm an angel investor, so the valuation puts me out right away. I think for you, a great return on this is if you close this round, you show some use cases, Motorola or Google or whoever comes along and buys you for eighty …”
Rinaldi: Jiobit uses machine learning to learn routes without manual setup
“We use machine learning to employ different types of routes and behaviors and routines. So like a Nest thermostat, you don't really set it up. It just kind of learns what you do with it. Same here.”
Rinaldi: Jiobit battery lasts up to 30 times longer than rivals
“Through this technology breakthrough, we can last up to 30 times longer than the best products in the market today.”
Gulati: A deep founder pain point is necessary for startup success
“Almost all of our successful portfolio companies have started with a really deep founder pain point, a really personal founder pain point. And that doesn't guarantee success, but I think it's kind of a necessary condition, right?”
Rinaldi: Meeting strict child-tracker constraints inherently solves broader tracking use cases
“Well, the thought was, if we go solve this market parents are really particular. They're very concerned about security. You're building something incredibly small for small children, so it's gonna be small, lightweight. It's gonna last forever, because no one …”
Rinaldi: Jiobit raised $4.6M to develop tracking technology
“We raised 4.6 million already to really develop all the technology.”
Rinaldi: Jiobit's unmarketed soft-launch customers bought devices for pets
“People that we did open up just kind of a soft launch without really doing any marketing. And those pre-order people started hitting us up and they started buying it for pets.”
Gulati passes: $15M valuation prevents sufficient equity ownership for his fund
“So if you're raising 700 K on a fifteen million dollar valuation, it's just not going to get us the, you know, the VC ownership that we need to move the needle. And so, so despite What I said about you being an absolutely compelling founder just for those reas…”
Rinaldi: Jiobit generated $75K in sales with no marketing spend
“We sold about 75,000 worth of inventory with monthly reoccurring of like eight grand.”
Rinaldi: Jiobit packs cellular, GPS, Wi-Fi, and Bluetooth into quarter-sized device
“It really has all the same tech that's in your smartphone, but in something the size of about a quarter. So every radio that's in your smartphone, Bluetooth, Wi-Fi, cellular, GPS, all in our custom systems architecture.”