-85%

est. 2Y upside i

The makers of Rooms, an app for iPhone, iPad and desktop web that lets you create and browse interactive 3D rooms.

Rank

#3583

Sector

3D Animation Platform

Est. Liquidity

~4Y

Data Quality

Data: Low

Things is an extremely early-stage company with a compelling product in a high-growth market (3D animation platform).

Last updated: March 10, 2026

Bull (15%)+200%

Things's 'Rooms' product achieves viral adoption on Vision Pro and iOS, attracting a large, engaged user base and demonstrating strong monetization through subscriptions and in-app purchases. This leads to a successful Series B round at a $60M valuation, driven by strong user growth and a clear path to $5M+ ARR within 2 years.

Base (40%)+50%

Things continues to grow its user base steadily but faces intense competition from well-funded players like Luma AI and Leonardo.ai. The company secures additional seed or bridge funding, reaching a $30M valuation, but struggles to significantly differentiate its offering or scale revenue beyond $1M ARR within the 2-year horizon.

Bear (45%)-85%

Dominant incumbents or well-funded competitors like Luma AI (valued at $4B) launch superior or free alternatives, commoditizing Things's core offering. User growth stalls, and the company fails to raise sufficient follow-on funding, leading to a down round or acquisition at a distressed valuation of $3M, significantly eroding common stock value.

Est. time to liquidity~4.0 years

Preference Stack Risk

moderate

Based on an assumed $20M valuation and $2M total funding, investors hold $2M in liquidation preferences ahead of common stock, representing 10% of the current valuation.

Dilution Risk

high

As an early-stage company with low revenue, Things will likely require multiple additional funding rounds, leading to significant future dilution for common stock holders.

Secondary Liquidity

none

There is currently no active secondary market or tender offers for shares in this early-stage private company.

View all 17 open roles at Things →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Things's data — designed to show you've done your homework.

  • 1

    “Given the rapid advancements and significant funding of competitors like Luma AI and the acquisition of Leonardo.ai, how does Things plan to build a sustainable competitive moat and differentiate its platform over the next 2-3 years?”

  • 2

    “With current revenue at ~$132,000, what are the key milestones and growth strategies for scaling revenue and user adoption, particularly for the subscription tiers or in-app purchases?”

  • 3

    “As an early-stage company, what is the anticipated funding roadmap, and how is the company thinking about managing dilution for early employees as it raises future rounds and approaches a potential liquidity event?”

Community

Valuation Sentiment

Our model estimates -85% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.