Milestones serve as a critical reference point for investors, illustrating how their financial contributions are transformed into product development and ultimately, returns on their investment. Additionally, they provide our internal team with a roadmap to ensure Lookr stays on the right path towards success.
Time (Months) | Date | Event | Details |
---|---|---|---|
0 | May 1, 2023 | Ideation | Start of Lookr ideation |
4 | Sept. 1, 2023 | Funding | Close Pre-seed round ($300k) |
10 | Mar. 1, 2024 | Product Launch | Beta launch |
12 | May 1, 2024 | Product Launch | App store launch |
15 | Aug. 1, 2024 | Funding | Close Seed round (500k users, 225k ARR, $4M funding) |
24 | May 1, 2025 | Funding | Close Series A round (9M users, $4M ARR, $48.8M funding) |
36 | May 1, 2026 | Funding | Potential funding round if needed (20M users, $9M ARR) |
This table below shows that the investor's initial investment of $300k could potentially be worth $4M after 2 years, assuming these valuations and dilution rates. This represents a more than 13-fold return on investment.
Time (months) | Event | Company post-money Valuation | Pre-seed Investor Stake | Pre-seed Investor Worth |
---|---|---|---|---|
0 | Pre-seed investment | $3M | 10% | $300k |
15 | Seed round | $4M | 9% | $360k |
24 | Series A round | $48.8M | 8.1% | $4M |
We've chosen VSCO and Snapseed as benchmarks for a few key reasons:
Time (months) | Date | Event | Details |
---|---|---|---|
0 | Mar 31, 2011 | Founded | Founded by Joel Flory and Greg Lutze. The company initially focuses on developing film emulation plug-ins for Adobe Lightroom and Apple Aperture. |
12 | 2012 | VSCO Film Launch | VSCO launches VSCO Film, a set of film emulation presets for Adobe Lightroom and Apple Aperture. |
24 | June 2013 | VSCO Cam iOS Launch | VSCO launches VSCO Cam, a photo editing and sharing app, on iOS. The app quickly gains popularity due to its sleek design and advanced editing features. |
30 | December 2013 | VSCO Cam Android Launch | VSCO Cam is released for Android. |
36 | May 2014 | Series A Funding | VSCO announces Series A funding of $40 million from Accel Partners. |
48 | Apr 24, 2015 | Series B Funding | Series B - 50M, https://petapixel.com/2015/04/26/vsco-raises-another-30-million-now-has-20-million-app-users/ |
VSCO dedicated the first year to pivoting their business model, followed by a year of developing their flagship app, VSCO Cam. In the subsequent year, they focused on growth and successfully raised $40M in a Series A funding round. A year later, they secured an additional $50M in a Series B round.
Time (Months) | Date | Event | Details |
---|---|---|---|
0 | June 2011 | Product Launch | Snapseed is launched on iPad by Nik Software. |
3 | September 2011 | Product Expansion | Snapseed is released for iPhone. |
12 | June 2012 | User Milestone & Product Expansion | Snapseed is released for Android. The app reaches https://www.globenewswire.com/en/news-release/2012/06/19/479801/19193/en/Snapseed-Surpasses-9-Million-Customers-in-Its-First-Year.html. |
15 | September 2012 | Acquisition | Google acquires Nik Software, the maker of Snapseed. |