A Letter from GigaStar CEO Hazem Dawani: Beta Launch Results & Learnings

Launching a new platform can be a daunting task, especially when trying to validate audience demand. After almost a year of preparations, the beta launch of GigaStar Market was exciting, humbling, and a learning experience for our team.

On Thursday, April 6th, we launched in beta with our first YouTube Creator’s Drop on GigaStar Market: ClearValue Tax YouTube Channel.

Within minutes of turning on the system, we received thousands of incoming Fans hoping to acquire one of our Creator’s 2,500 Channel Revenue Tokens (CRTs). We had to pause the Offering and reopen it on Friday with more system resources to handle the demand.

Beta Launch Results

On Friday, we sold out in less than an hour and had approximately 7,500 accounts opened on our platform. We not only met 100% of the target raise by committed investments but also accumulated a waitlist of an additional 200% of the target.

Additionally, since our launch, we’ve noticed an immediate 10% engagement rate increase with new videos by our first Creator.

Bringing Creators and Fans together as partners does work.

What We Learned

• We learned that we must aggressively pursue functional improvements to ensure every user has a positive GigaStar Market experience. This includes adding engineering resources and re-evaluating our key vendors’ capabilities and commitments, which must be as strong as our technology.
• We learned that we must continue to communicate why the GigaStar Market platform offerings are unique, including specific Regulation Crowdfunding participation requirements around the need to input a Social Security Number and form of ID as we want to ensure users fully understand the offering structure and opportunity.
• We also learned that we must pursue a different approach to tier limits since a well-intentioned approach with known limitations is not good enough when some users are desperate to buy the higher limited tiers.
• We learned that through this beta launch market demand exists for our business model, and is far higher than what we had anticipated.

Demand Is King

Until now, the biggest risk factor our team has faced has been validating true market demand, and quantifying how much that demand will be as we scale and properly project future growth.

Every startup is built upon hypotheses that need to be validated. Our core hypothesis was that Fans want to invest in Creators. The other side of this hypothesis was that by bringing Fans as investors, Creators would be able to grow their Channel faster.

Over the last year, our team conducted in-depth market research inclusive of hundreds of YouTube Creators and Fans, but the true test of a platform’s potential for success is based on the positive demand validation during a beta launch. This is where the rubber meets the road.

We believe this launch was a success, as we validated key assumptions, and satisfied both the Creator and a large number of their Fans. We realize there’s room for improvement, but we are confident that every challenge encountered has a solution within our grasp.

I’ll close with a big thank you to Brian Kim, manager of the ClearValue Tax YouTube Channel, to his Fans participating in this launch, and to the GigaStar team who worked tirelessly to get us to where we are. It’s time to put our heads down and iterate on our launch learnings.

The GigaStar team will continue to follow the course set forth in our company roadmap — more validated, wiser, and more dedicated than ever to ensure that what we do fully supports YouTube Creators, the bold ones who inspire us!

Hazem Dawani, CEO
GigaStar

Disclaimer:

This communication is provided by Creator Networks, Inc., (dba GigaStar). GigaStar is the Parent Company of GigaStar Portal, LLC (dba GigaStar Market), an SEC registered funding portal member of FINRA, and GigaStar Technologies LLC, offering blockchain and smart contract solutions via GigaStar Portfolio.

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