San Francisco, US

The project is closed

Startups are the only way to become rich and famous with limited funds

Team Reimbursement Program

Meet Our Team

We strategically help generate beautiful ideas for startup founders, validate hypotheses, and make digital products that actually work.

  • Team Member

    Mark Novak

    CTO, Co-founder

  • Team Member

    Mark Afanasiev

    Product manager

  • Team Member

    Eric Novak

    CMO, Co-founder

About the reasons for closing the project

I want to express my gratitude to those who worked with us and entrusted their money to our team.

With this project, we wanted to test several hypotheses to see whether it is possible to create such a product in the market of unqualified investors, which would allow investing little money in the most promising startups. We must understand whether there was a suitable market for this idea and whether there was the potential to find a point of considerable growth here.

Before starting development, we set the growth targets we needed to reach. It became apparent that we were not approaching these values, so the project had to be closed down urgently before the amount of commitment increased many times over.

There are some suggestions as to why we did not reach the required targets.

First, we came to the market when there was a collapse of large projects. It affected potential investors' interest in long-term projects like ours. Second, many administrators of monitors and blogs started saying that our project's investment plans were too long. According to them, this was a significant factor in the lack of interest from investors in the project. Our mistake was that we decided to add new short plans to test the hypothesis. This choice forced us to make decisions very quickly and try to find working advertising channels to attract new investors. Third, we gave out a lot of active deposits, which accelerated the withdrawal of money from the platform without further investments.

But if we look at the facts, the project is closed because:

  1. The product was offered to the wrong market and at the wrong time.
  2. It was taking too much time and money.

We had to get rid of such projects at once.

In the end, we got a project that no one could earn. A large number of investors returned more than 50% of their investment. Partners have already compensated up to 100% of those who did not make a single withdrawal.

We plan to refund the entire investment over the next three months. The priority will be refunded amounts for long-term investments and those without registration under the affiliate program. The second priority will be to cover the losses of all other short plans.

Those who received an activated deposit or money to open a deposit are not eligible for reimbursement.

  • We still maintain a telegram channel: @First_Startup_Channel
  • You can track updates and results of the reimbursement program here: @First_Startup_Updates
  • You can still contact us here: @first_startup
  • Sincerely, First-Startup team