Tesla Cybertruck Already Has Aftermarket Accessories, Including CyberLandr Camper Conversion

At an astounding $400 million valuation, CyberLandr, a very unique high-tech camper for the Tesla Cybertruck, is seeking funds. It was reported earlier this year that third-party Tesla Cybertruck accessories have already been sold despite the fact that the vehicle has not yet gone on sale.

It all began with Cyberlandr, a camper system for the Cybertruck. We noticed that the initiative appears to fit a bathroom, bedroom, kitchen, and office inside an autodepandable camper out of the Cybertruck’s bed.

The CyberLandr will sit flush inside the Cybertruck’s bed, which is much more efficient and has a smaller impact on range. The idea is to have a camper that doesn’t rest on top of the truck or in a trailer towed behind it.

The project soon gained a large backlog of reservations worth $50 million in only a few weeks. That’s not to say it’s actually cash in the bank, but rather expected future sales based on the orders they received, which necessitate a $100 to $5,000 deposit.

CyberLandr announced this week that the amount has now surpassed $100 million. At a sale price of $45,000 on average, it implies over 2,000 people have reserved the vehicle.

After the news, CyberLandr announced a crowdfunding campaign on StartEngine to raise up to $5 million.

The CEO of Stream It, the company behind CyberLandr, Lance King, said about the campaign:

“We are humbled by the overwhelming response and excitement around CyberLandr. Many people have asked for the opportunity to invest in the early stages of the company. To make this possible, we have partnered with StartEngine to make a very limited number of shares available.”

While King refers to this as the “early stages of the firm,” this isn’t reflected in the valuation.

The company has a pre-money valuation of $400 million, which means that investors are acquiring a stake in the firm worth $400 million before it’s even launched. Some potential investors on StartEngine asked whether this fantastic valuation was correct, and King attempted to defend it with the following comment:

“It is a matter of scale. Most products on StartEngine are much less expensive than CyberLandr, so it is difficult for them to achieve a similar valuation. Also, more capital is required to design and manufacture CyberLandr than other products on StartEngine. Current paid reservations represent sales in excess of $100 million, so a $400 million valuation is only a 4x multiple. As part of your due diligence you might consider 40% of truck owners have an RV. Take the number of Cybertruck reservations and multiply it by the percent of buyers you think will want a new RV with zero aerodynamic drag, multiply that by the suggested retail price to estimate future revenue. Then multiply that by whatever you consider to be a fair multiple for a fast growing company in a growing industry. The result may well uncover an excellent investment opportunity.”

Over $200,000 has been pledged so far by 90 investors in the campaign that began yesterday.