The team of Stake came to visit us with a simple idea, “Wouldn’t it be good if you could buy shares in stuff you know, like Nike or Tesla?”.
It’s a simple idea but does the world need another share trader?
Our first challenge was that none of us were share traders. Our challenge was actually our opportunity. This is especially true when you consider nearly half of the people trading on the Australian Stock Exchange don’t actually know what they are investing.
We realised our lack of knowledge was a good thing. If we created something simple that helps us invest, then we could help anyone invest.
We started by opening accounts in a bunch of onsite trading platforms both locally and globally. Interestingly, the world of investing is broken up into 2 categories.
There are a number of sites that are super complex and best for experienced investors.
There is another category that is built for new to market investors. In most cases they use clean and fresh design to make a complex topic easy. Fact is, it doesn’t work.
In actual fact, the category needs to be re-engineered.
So we started fresh. We started talking to investors of all kinds, highly experienced, new to market and finally, people who had thought about trading but never had the nerve.
Ideally, for Stake to work, we needed to know who we were designing for. We knew getting expert investors would be hard as they have an existing platform and all their investments are in one place. To get switchers would be expensive and hard.
We realised the way into the market was with new to market investors. Ideally, they are just entering the market and they have no connection to any one platform so getting them to try us, given we are awesome, wouldn’t be too hard.
Through workshops and research across the category, we realised everyone fundamentally looks and behaves the same. Ideally, buying shares should be simple, as simple as buying a t-shirt from The Iconic. The question we had asked ourselves was, why doesn’t this category act and behave like eCommerce?
So we had it! We needed to create something for new market entrants, made investment human and was as intuitive and simple as online shopping.
OUR DESIGN RATIONAL : We started by listing out all the conventions of eCommerce. Shopping sites have simple search, they all let you create a wish list, they left you buy gifts, they have a shopping basket and cart to purchase your goods.
Our design vision was to build the world’s first online shopping site for shares. We wanted people to take the knowledge of buying clothes to buying shares.
And, if that’s not enough we realised the ability to give shares as a gift was next level thinking. Imagine giving parents and friends the ability to give a gift that keeps growing like shares. We saw parents being able to buy their kids shares in a brand they love like Nike.
The site has just gone live, so fingers crossed the world loves what we have made as much as we have loved making it.