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Security Type
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Debt
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Categories
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Technology, Hospitality, Service Businesses
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Min Investment
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$100
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Offering Date
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April 17, 2021
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Expected Close Date
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April 30, 2022
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Target Raise
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$50.00K-$250.00K
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No. Investors
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208
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Security Price
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$1
- Number of Employees
- 120
- Cash
- $421,381
- Revenue
- $6,989,329
- Short Term Debt
- $800,979
- Cost of Goods
- $2,289,793
- Long Term Debt
- $0
- Net Income
- $-1,944,705
Company Description
Miso is a home services booking platform. When you want to purchase a product, you can open Amazon and order what you want. When you want to find a cleaner, a moving service or someone to remodel your home, you turn to Google. You do a search for service providers, waste time looking for reviews and make phone calls to receive quotes. We need a better way.
Key Deal Facts
Over 3 million bookings totaling over $150 million in gross bookings
Raised $11.5M including $8M Series A from investors like Y Combinator, Social Capital, AddVenture
$10 million annual revenue run rate with 90% variable margins
Connected more than 350,000 customers with 40,000 service providers.
85% of our bookings come from repeat customers who love Miso
$1.3M committed for this round on the same terms
Management Team / Advisory Board Bios
Victor Ching, Co-founder & CEO
Former Chief Product Officer at Delivery Hero in Korea. Delivery Hero's service does more than 10 million orders per month in Korea. Went through Y Combinator in the Summer 2016 batch.
Chanyong Kim, VP, Services Business
Played key roles at multiple top Korean tech companies and startups including Coupang (Amazon of Korea), Naver (Google of Korea) and Kakao Mobility (Uber of Korea).
Heuicheon Yang, Product Lead
Previously worked at Samsung Electronics and co-founded a direct to consumer bag brand. Has been played a key role at Miso for more than 4 years.
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
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The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
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The value of the company compared to similar companies raising money from investors.
Valuation
Security Description
Debt is something, usually money, borrowed by one party from another. Debt is used by many corporations and individuals to make large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.