wilmore

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About wilmore

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    wilmore, charlotte

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  1. wilmore

    Charlotte Tech News

    Investors push for unicorn valuations when they can get tons of protections, which I would argue is not really a billion-dollar valuation. If your 5% immediately converts into 50% upon some goal not being hit, it's hard to say that was truly a billion-dollar valuation. I'm sure they have developed some sort of actual software package, but the website does not really show that. Maybe they'll up their marketing game now that they're a Unicorn and need to be selling to more/larger clients (I'm not sure who they work with besides Harris Teeter, and likely the banks). If this was a typical unicorn-investor (large VC firm, etc.) I'd believe the valuation more. But a private-equity firm who usually doesn't invest in tech deals, going for a 5% slice of the company? Also, you'll notice the investor didn't mention anything about the valuation, Tresata is the one throwing this around. So they seem to really care for whatever reason. Being obsessed with your valuation rarely ends well for a startup, due to as you mention, investors being able to build in protections and "use the founders' ego against them" in many cases. I hope they live up to the valuation - biggest plus is now that they have $50M, they should end up hiring way more than ~30 employees, good for those looking for tech jobs in CLT.
  2. wilmore

    Charlotte Tech News

    It's absolutely ridiculous that Tresata is claiming to have a billion dollar valuation. Without knowing any of the actual goings-on here, and why they'd announce this in such a way, there are a *ton* of red flags here. This newsletter seems to have touched on a lot of what's extremely strange about this. IMO trumpeting this doesn't look good for Charlotte tech. 1. They have a billion-dollar valuation and yet the best publication to report on it is "siliconangle"? Not even sure what this site is, but no one reputable outside of CLT touched the story. 2. The investor is a PE firm that generally does control investments. So you're saying they invested for a 5% stake, at the top end of their usual investment number? That's...odd. They also have invested almost entirely in banks, with a couple tech investments - the other tech deal I saw numbers for was a $12.5M Series B. It strains credulity that they'd do a deal for $50M at a BILLION dollar valuation, without some major caveats. 3. Tresata announced the following numbers as a part of the INC 500, which generally requires legit financials: $11M revenue, 182% 3-year growth rate in 2017 (this is cumulative, so the annualized growth rate is slightly over 40%.) The annualized 40% growth rate is good, sure, but nothing NEAR what would result in such a massive multiple of revenue. In fact, the growth rate is similar to many public SaaS companies (of which, is Tresata really? I don't know, it seems more like a consultancy...almost all their employees are "data engineers"), which average around a 10x revenue multiple. This is all to say a $100M valuation might make sense, given both the PE firm's investment type, and the revenue numbers, and even $200M would be feasible if they have some strong growth potential once they begin scaling with this capital. But a billion? I'd love to see any other startup type person or investor say this is a legitimate possibility, and why, because I am baffled as to why they would make this bizarre claim. 4. I certainly hope they invest in their marketing materials with this $50M. If they have some legitimate tech advantage, and aren't just implementing big data tech as a consultancy-type upsell model, they should be able to say something more compelling on their website than they do. Like that post mentions, it's truly horrible marketing buzzword bingo. Don't believe the hype.
  3. wilmore

    SouthEnd Midrise Projects

    It's hilarious, I don't know why they offer it, but I love that it's a thing.
  4. wilmore

    Another bar/restaurant bites the dust

    Reviews on this one seemed to be good, does seem like drama may have been the case...didn't last long. Can't imagine Babalu will be terribly missed, however
  5. wilmore

    Drinking Beer in Charlotte

    Yes, tap room with few bottles. They're also going to be adding food service.
  6. wilmore

    Drinking Beer in Charlotte

    Agree with this Pilot take - glad to see someone else skeptical of this CIBA as it's always rubbed me the wrong way. Olde Meck seems to do a lot of this kind of thing, from their reps tweeting anti-hazy IPA takes (people like them, it's ok. they also seem to like your lagers) to the whole distribution change that is basically just OMB + NoDa lobbying...
  7. wilmore

    Good New Restaurants

    I agree, it's not that good. Live right down the street and never have a thought to go after trying it out a couple times.
  8. wilmore

    Good New Restaurants

    If you have a 3 on Yelp, you're not a good restaurant, no matter what your PR firm says.
  9. wilmore

    MLS in Charlotte?

    Yes, they got rid of the requirement that regionals needed to be in a large football-type stadium, most of them were help in normal basketball stadiums this year, so Spectrum could now qualify again.
  10. wilmore

    Good New Restaurants

    Looks like way more of a sit-down restaurant than Sabor. I'm skeptical of the "all Asian styles in one" but reviews in other cities seem strong, should be an exciting addition.
  11. wilmore

    Drinking Beer in Charlotte

    I *think* they do now. Previously, Heist along with many others were using a mobile canning line in a truck which shows up when you need to can one-offs like they were previously releasing.
  12. wilmore

    Drinking Beer in Charlotte

    I imagine they didn't invest capital in a fixed canning line only to not use it.
  13. wilmore

    Another bar/restaurant bites the dust

    Consider going to Rai Lay, it's excellent. Everything else on that row...well, definitely excited to see what will replace the Stache House
  14. wilmore

    Drinking Beer in Charlotte

    I can confirm that walk is extremely bad. You basically have to go around on the street, in an industrial park. Much better to just go from 36th.
  15. wilmore

    Good New Restaurants

    Superica location is 1000x better (and I'd rate the food as equal but haven't been to Pacos in a while, it was def my previous favorite)