Investing Memo: Saturday $X00k SAFE on $1XM(pass)

Obfuscating private information here.

With the COVID nightmare, supposedly behind us, people craver personal connections again. Saturday is a new take on location based social networking.

I would struggle with this one, as I find B2C much less predictable than B2B. I remember being a king of certain location on foursquare, but the experience was sticky enough, evidenced by Foursquare’s many pivots. The shutdown of Zenly and Facebook Nearby Friends creates a gap, but that’s likely due to lack of traction.

Key Highlights:

For a preseed deal, Saturday has great Day 30 retention (10x the average), proven founders and tens of thousands of users. MAU is under 10k.

Net Net: I feel like people will naturally gravitate to their existing social connections to feel human again. For many even that frequency of interaction will be a lot (if you haven’t seen people in a while).

Will download the app to try it out though.