For investors
A digital product investor checklist: what to ask before backing a studio
Schatz & Schatz LTD · · 3 min read
A portfolio of apps and games can make an interesting introduction. It is not, by itself, enough to make an investment decision. Before discussing terms, separate the product story from evidence about delivery, customer demand, ownership and the funding requirement. These questions can make the first conversation more useful for both sides.
1. What can you inspect today?
Ask which products are live, which are prototypes and which are in development. A live website does not necessarily mean a whole roadmap is finished. Request a demonstration of the actual user journey and clarify which parts of the experience still need work.
At Schatz & Schatz, the project pages distinguish our available web products from upcoming work. Sarah AI Therapist, LoverCompass and The Rich Library have public product websites. Cleopatra Astrology is in development, and Room 17 and Last Seen Online are upcoming PC games. Start with those pages, then ask for the evidence relevant to the particular project.
2. Who needs the product—and what proves it?
A clear target user is more useful than a broad claim that everyone could use an app. Ask what problem the product addresses, how users currently solve it and why they would return. If usage or revenue figures are shared, clarify the period, definition and whether the numbers are measured or estimated.
We do not claim customer counts, revenue or investment returns in this article. Those figures need verified records and context. Search interest can inform a topic or market conversation, but search volume is not evidence of paying customers or a studio’s commercial traction.
3. What does the funding actually change?
Ask for a defined milestone rather than an open-ended request to grow. Depending on the project, a useful conversation might cover a release, a tested user journey or a distribution plan. Review dependencies, the team’s capacity and what happens if work takes longer than expected.
- Which deliverable would the funding support, and how would completion be evidenced?
- What assumptions sit behind the budget and schedule?
- Who owns the software, artwork and other intellectual property?
- Which external services or store approvals does delivery depend on?
- What risks could change the scope or timing?
4. Separate support from an investment agreement
Crowdfunding can mean different things. A donation or reward contribution should not be treated as equity unless the arrangement explicitly provides it. Our public Crowdfunder is a support route; any commercial investment discussion needs separate terms and appropriate professional review.
Our investment page provides orientation on the portfolio and development stages. Estimates are not valuations or guaranteed outcomes, and game budgets are not disclosed publicly. If you are interested in a particular product, tell us which one and what information you would need to assess it. This checklist is general information, not financial or legal advice.