At the start of each month, the Grants Lab team has an hour-long meeting that primarily focuses on strategy and progress against our goals. This month, we focused on our our Q3 goals wrapup + Q4 goals review. I’m linking the presentation here, as well as including an AI-assisted summary of the notes for anyone interested!
Monthly meeting slides here: Grants Lab Monthly_October24 - Google Slides
Summary of the Gitcoin October Team Meeting
Agenda Highlights:
- Org and Business Updates:
- DevCon: Upcoming key events including FTC Design Jam (Nov 6-7), FTC Conference and Owocki’s Book Launch (Nov 8-9), Allo Hacker House (Nov 9-18), and Gitcoin <> Wonderland Meetup (Nov 11).
- Performance Reviews: Reviews are conducted every six months, with the goal of identifying growth opportunities and adjusting compensation based on Gitcoin’s performance and employee growth. Our next cycle is coming up at the end of this month.
- GG22 Updates: Notable focus areas include beta testing of new features like the swap widget and mint attestations. A major goal is improving eligibility standards for community rounds and creating a builder directory.
Q3 Goals Recap: Notion – The all-in-one workspace for your notes, tasks, wikis, and databases.
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Doubling GMV via “Whale Hunting”: Not met
- The goal of increasing average partner grants round size from $200k to $400k was not met, reaching an average of $210k per round
- Significant rounds included partnerships with Zuzalu ($600k), Polygon ($250k), and SEI ($250k).
- A key focus was activating $4M from the delivery pipeline, achieving $2.6M. This miss was primarily due to a delay in a $1m partner round, which will conclude in October.
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Technical Foundation for Future Growth: Partially met
- Progress was made on building and validating a product strategy for the future, with particular emphasis on scaling Allo.
- A second KPI was completing one tool + one mechanism rebuild based on the outlined technical strategy. These were deprioritized for GG22 features and will be delivered in the first half of Q4.
- A third KPI was “no payments f-ups.” Significant improvements were made to the stability of our payments mechanisms and this goal was achieved, though we will continue to monitor it closely.
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Relaunching Gitcoin Marketing: Partially met
- The marketing team worked on redefining Gitcoin’s messaging, aiming to shift perceptions from “just public goods” to a more comprehensive platform.
- Website redesign and lead-generation improvements were part of the rebranding efforts.
Q4 Goals: Notion – The all-in-one workspace for your notes, tasks, wikis, and databases.
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North Star Goal: $15M GMV:
- The team’s primary focus is to position Gitcoin as a leader in grants by launching new products and features, and publishing key content to highlight their expertise.
- Target metrics include launching new features every 4 weeks, publishing three major content pieces, and onboarding 10 high-quality citizens into the community.
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Revenue Capture:
- An emphasis on making 80% of qualifying rounds ($100k+) revenue-generating, closing at least two Pro tier customers, and maintaining baseline coverage of product costs.
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Developing the 2025 Product Strategy:
- Efforts will focus on developing a roadmap for 2025, which includes big investments to secure Gitcoin’s position in the provable impact grants market.
Open Discussion:
- Concerns around missing GMV targets and balancing innovation with product development were discussed, along with the need for improved treasury management and future revenue plans.
This meeting outlined the organization’s goals and provided a clear path toward Gitcoin’s growth, particularly in expanding partnerships, refining product offerings, and improving community engagement and satisfaction.