Overview

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.

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Lookr Milestones

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)

Why Should You Invest in our Pre-Seed

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

Why Our Milestones Makes Sense

We've chosen VSCO and Snapseed as benchmarks for a few key reasons:

  1. Like us, they were early entrants in their respective categories.
  2. They initiated their businesses with mobile apps, similar to our approach.
  3. Their primary revenue model is subscription-based, which aligns with ours.
  4. The user personas for photo editing apps have significant overlap with Lookr's target audience."

VSCO Milestones

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.

Snapseed Milestones

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.