Have you considered adding a subscription model to your offering for services (in a bundle) that may occur regularly (e.g. quarterly or annually) and then allowing customers to pay via a monthly subscription fee instead of paying for each service? Not only should it increase y...

This is an area which has been discussed internally. We've also talked about bundling our services with retailers so when you buy a dryer, you can either add or it comes with a subscription for regular maintenance. We have not implemented anything yet but we will do so within the year.

Hi Victor, this sounds extremely interesting. How did you arrive at the valuation, USD 150m sounds high, 1x gross bookings. Best, Olof

We were looking at a 2021 GMV multiple of 1.5X vs. global consumer tech peers at around 2.3X. Coupang, a Korean e-commerce company that went public on the NYSE recently is trading at around 4-5X. Our growth rate is also better than our peers as we are on track to grow 2.5-3X this year.

At such a high valuation cap, can investors expect 10x return to investment form this Wefunder round?

Yes, we believe we will return greater than 10X at this cap. The cap is higher because we are further along in the company in terms of revenue and are still growing rapidly. We are on pace to grow 2.5-3X this year.

When /what time frame can Wefunder round investors expect conversion to equity?

We plan on raising our next equity round this Summer.

Is the service only available in Korea?

At the moment, we only provide our service in Korea but the plan is to launch Miso outside of Korea as well.

Miso (YC S16)

Instantly book 70 home services such as cleaning, moving, repair and more

miso.kr

Dover, DE

Technology Y Combinator Minority Founder Service Home Tech

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I run a travel startup

LEAD INVESTOR

Invested $1,000 this round + $50,000 previously

First, I love Miso as a customer. I have used Miso over 150 times for a variety of different services. I currently use the cleaning service on a weekly basis and it has made my life much more convenient. Miso is starting to turn into a household brand in Korea. Many of my friends use the service and I believe services is going to be one of the major categories that needs to come online. We already have platforms for buying products, clothes, ordering food, etc. and Miso is well on its way to becoming the platform for booking services.

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Miso (YC S16)

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