READgauge is an application that targets…

READgauge is an application that targets reading comprehension. The presentation devoted a considerable amount of time explaining the problem and the product. For an investor who knows little about the subject, the content was too much and I was losing interest early on. We are introduced to the CEO but the rest of the team and the team’s qualifications remain a mystery. The CEO is enthusiastic and passionate about the product. The venture concept is somewhat original though there appear to be quite a few reading comprehension apps available already. The one advantage of READgauge appears to be that it is designed to be used with a whole class of students at the same time, though whether it can compete with programs like Socrates is questionable. Market size is mentioned in terms of how much is currently being spent on education apps of this nature, but the pitch does not specifically address the target market, though it is clear they are addressing students but which students is not made evident. Further, no mention of the revenue generated by this particular venture is presented so it is uncertain what share of the market they could capture in a market already full of such applications. An estimated expected yearly revenue would have been useful. In terms of the venture plan, I am not sure how far an investment of $50,000 will get the company as the average cost of an app development is $200,000. It is unclear whether the team has invested any of its own money in the venture. An exit strategy is not presented. Visually the presentation was not engaging. The concept of READgauge seems like a good idea however based on the information presented it seems like a risky venture.

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