Second Edition
Welcome to our latest business update! This quarter has been an exciting period for Gatsby, filled with strategic partnerships, growth in our team, and significant product advancements. We’re thrilled to share our progress and what lies ahead.
Recent Achievements
New Strategic Partnership: We have finalised our partnership with Tyro, opening doors to numerous venues across Australia. This partnership not only broadens our reach but also provides us with access to key contacts from Tyro’s largest accounts, accelerating Gatsby’s growth.
Expanded Revenue Streams: As part of this collaboration, Gatsby can now sell Tyro’s products, creating an additional revenue channel and enabling integration with venues that use POS systems not previously connected with us.
International Expansion Interest: Abacus/Liven have shown strong interest in introducing Gatsby to Bali, leveraging their substantial market share. Given Bali’s status as a premier tourist destination, this presents a prime opportunity for growth. Marketing plans are underway, with Abacus/Liven offering local marketing team support.
Product Development Updates
New Team Member: We’re excited to welcome Anesu, our newest full-stack developer, enhancing our development capabilities.
Infrastructure Improvements: We’ve improved our system’s reliability by implementing containerization, and moving towards zero-downtime deployments.
Feature Enhancements: We introduced “Barback,” a tool for managing events, venues, and promotions, initially for internal use but with plans to extend to venue owners and event planners.
App Launches: Gatsby is now live on the App Store, with Play Store availability coming soon.
User Experience Upgrades: Enhanced real-time location tracking and mapping, revamped venue details pages, improved signup flows, and guest login options.
Financial Performance
Gatsby continues to operate at a loss while in the development phase, as expected for a startup in its growth stage. The team remains committed, working under a sweat-equity arrangement, with co-founders contributing regular monthly injections to sustain operations and development momentum.
This quarter, our strategic focus was on forming partnerships and verifying interest from key stakeholders, including alcohol brands, wholesalers, and venues. This approach has successfully secured several partnerships, laying a strong foundation for next quarter's priority of acquiring early users.
On the cost-saving front, we’re benefiting from significant savings thanks to our participation in the Microsoft for Startups initiative. The Azure credits we have received have notably reduced server hosting costs, helping us manage expenses more effectively during this development period.
Community Engagement and User Stories
Live Pitches: In September, Gatsby had its first two live pitches: one at the First Wednesday Connect by CBRIN and another to investors at Capital Angels.
Social Media Presence: We’ve launched Instagram and Facebook accounts and are gradually building our following.
User feedback: We’ve received highly encouraging feedback on the app’s usability, design, and unique concept. Users consistently praised the intuitive and streamlined user interface, highlighting how it simplifies the process of discovering events and creating a seamless experience that meets their needs.
User-Friendly Interface: The app's clean design and ease of use were repeatedly noted as major strengths, enhancing user satisfaction and engagement.
Unique Concept: Users found the app valuable and expressed that it fulfils a need in the market, especially for discovering local events and venues.
Enhanced Location-Based Filtering: Some users requested improvements in filtering events and venues, more precisely by unique location. Giving users the ability to focus on one area and fully explore the offers. After receiving this feedback, we have improved the app’s map and area-based filtering.
Closing Remarks
We’re energised by the momentum gained this quarter and are excited for the opportunities ahead. Thank you for your continued support as we push Gatsby to new heights. We’re eager to share more updates in the next newsletter, including new partnerships and product milestones.