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Published Jan 24, 2018

#23 Jiobit

Explore the entrepreneurial journey of John Renaldi, who transformed a personal scare into Jiobit, a cutting-edge geotracker for kids designed to address safety with advanced technology. Despite initial setbacks from investors wary of competition and valuation, Jiobit's potential for broad market applications remains compelling.
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  • Investor Feedback

    presented Jiobit, a geotracker for kids, to a panel of investors, seeking funding to further develop his product. Despite the impressive $75k in pre-orders within a week, investors like and expressed concerns about the competitive landscape and the company's valuation. appreciated John's personal connection to the product but worried about the crowded market of substitutes like smartphones and subdermal chips 1 2.

    I think this is a market and a space with just lots of competing substitutes, whether it's subderm chips, whether it's smartphones.

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    Ultimately, the investors decided to pass, citing the need for more traction and development in specific use cases 2.

       

    Investment Strategies

    The investors discussed strategies for evaluating Jiobit and similar startups, focusing on the potential for market expansion. and highlighted concerns about the company's focus on children and pets, suggesting broader applications could yield greater success 3. acknowledged these insights, explaining his strategy to first perfect the product for kids before expanding to other markets like pets and luggage 4.

    You have to sort of step back and look at the other use cases more analytically and not emotionally.

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    This approach aims to avoid distractions and ensure a strong foundation before diversifying 4.

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