What is the estimated ROI timeframe?

Thank you for your question Megan. There is so much uncertainty involved in making such a prediction, that the SEC warns us against doing so. I can say however, that Joseph and I are extremely dedicated founders, and that we are shooting for the stars--not just a quick exit. Our competitors, whom we are seeking to supplant, are worth 10's of billions of dollars. It is not uncommon to see successful investments in similar stage startups return 100x to 1000x in 5 to 10 years, but every startup ...

(1) Is any kind of background check done on employees/workers? If so, who performs it? (2) It appears that the lead investor put in roughly $7800 in January 2021 at a $1.1M valuation. What's happened in the two months since to cause the valuation to skyrocket to $4M? (3) What ...

Thank you for your questions Kevin. 1. Because employers have the option to pick and choose their workers, this requirement is up to them. We provide workers with the option to purchase a background check (via a third-party api), and if they pass, they are awarded a badge to display on their profile. If an employer desires a worker with a background check, then they simply hire someone with a background check badge. 2. Our lead investor was one of our earliest investors back in 2018, when Gig...

What are your revenue goals for the next 5 years? There are so many gig apps out there, what makes you better?

Thank you for your Questions Leonardo. 1. For a startup at our stage, it is extremely difficult to predict with any accuracy where we will be in five years. However, we can make a fairly logical projection for the next year. Currently, our customer acquisition cost is about $1900. Assuming we raise $500K on wefunder, we will apply 40% (or $200K) towards acquiring more clients. At our current CAC, this will bring us to about 100 clients by Q2 of next year. Multiplying that by our average reven...

Thanks for answering my initial questions. Regarding #4 (relating to the company's profitability), should I take your response to mean that you expect to end the year with a net profit?

It's my pleasure Kevin. Absolutely not, any margin we see in the near to mid-term will be re-invested in our growth. For an early-stage startup like us, growing revenue and capturing market share are our primary objectives. Net profits at this stage would only mean that we were not deploying our resources effectively towards optimizing growth.

I ABSOLUTELY LOVE THIS IDEA. 1) My biggest concern is the vetting out process for workers/employees that will be left to this third party you mentioned in earlier responses. Who is the 3rd party, are they reputable, because it sounded a little *too* hands off? 2) Also, with th...

Greetings Andi! Thank you so much for your questions and encouragement! 1) Currently we use a very objective automated service which cross-references identities and previous addresses with arrest records, criminal cases, and other public records. Workers applying for our background check badges must confirm their identity, pay a nominal fee, and agree to the check. For proprietary reasons, I cannot disclose the exact criteria that constitutes a pass or fail, but in general one may be disquali...

GigKloud

🔥Taskrabbit For Businesses

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gigkloud.com

New York, NY

Technology Marketplace B2B B2C Mobile Apps

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Jason interviewed GigKloud on April 14, 2021. Play Video

Jason Levine

Working to move our economy and ways of living in a clear, ethical, sustainable direction.

Strengths

says, "There is a clearly-identified pain point in the hiring process and for job-seekers, and the revenue + retention of hiring managers validates GigKloud's solution with its existing customers."

Advice

says, "There will be a few keys to scaling this marketplace that are important to keep in mind: finding network effects, expanding efficiently to new geographies, and maintaining strong unit economics throughout. Fundamentally, the question is, "can GigKloud provide a better experience to their 100th or 1000th customer than they have to their 10th?""

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LEAD INVESTOR

Invested $15,000 this round + $27,862 previously

As an experienced Angel I’ve always sought out the most disruptive opportunities. I believe GigKloud will be a household name in 3-5 years. They have the ability to iterate on a week to weekly basis, and are going against the competition that’s stuck in their old ways. A true unicorn opportunity! I’ve personally witnessed the work ethic of William and Joseph. My investment is a testament to the trust and confidence I have in their success. I can’t wait to share this journey with more investors that see what I do!

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