Interviewed by Syed Md. Rakeen, Team MBR

One of the top 50 startups at the Bangabandhu Innovation Grant 2023, StufBase, has made its mark as the first digital product e-commerce solution for the creator economy in Bangladesh. StufBase gives the creators a platform to showcase their creations, such as music, videos, artworks, icons, photographs, movies, etc., and earn passive income through their digital contents. Creators can sell their plethora of digital products as many times as they prefer, with the ease of the monetary transaction system providing a convenient mode of receiving proceeds for creative individuals. With partners from Bangladesh and Estonia, the local creative agency Glitch DHK is currently a shareholder in StufBase. Team MBR was in conversation with Mr. Junaid Tarik Deep, Founder and CEO, StufBase, to learn about his vision and inspiration behind StufBase and its operations in Bangladesh.

Syed Md. Rakeen: StufBase is the first e-commerce solution for digital creators in Bangladesh, providing creators with a platform to sell their digital products online and generate a source of passive income. Would you kindly provide an overview of StufBase and give us a tour of its operations?

Junaid Tarik Deep: StufBase serves as a catalyst for the growth of the creator economy in Bangladesh. By providing a specialised marketplace for digital products, the platform encourages the entrepreneurial ventures of digital creators and promotes the digital creator economy scenario in our country. This creates opportunities for creators to expand and thrive in the emerging market of digital content.

Creators benefit from StufBase by gaining a dedicated marketplace to showcase and sell their digital creations. Social media helps creators build an audience, and StufBase helps creators monetize their audience through digital products. By listing their products on the platform, sellers can tap into potential buyers, who are specifically looking for digital assets. These buyers are often seen as coming from creators’ already-built follower bases on their social media platforms. StufBase provides a platform that streamlines the selling process, making it easier for creators to monetize their work and generate passive income.

Syed Md. Rakeen: The quality of content on the platform may vary as creative individuals with different levels of expertise can look to sell their products there. Are there any quality control measures in place to assess the quality of the contents and examine if they meet certain standards of StufBase?

Junaid Tarik Deep: When a seller uploads a product on StufBase, it undergoes an approval process implemented by the platform. The StufBase admin is responsible for reviewing and evaluating the uploaded products according to the established standards set by StufBase. If a product violates these standards, it will be promptly rejected.

To ensure effective communication and transparency, StufBase promptly notifies sellers about the status of their uploaded products via email. Whether the product is approved or rejected, sellers will receive a notification from StufBase, providing them with the necessary feedback regarding the outcome of the approval process. This allows sellers to stay informed about the status of their products and take appropriate actions accordingly.

Syed Md. Rakeen: Content creators who are looking to diversify their revenue streams may use Stufbase to generate a source of passive income, or they may even use the platform as a source of primary income. Would you kindly share with us the revenue-sharing policy between StufBase and the content creators?

Junaid Tarik Deep: StufBase operates on a commission-based model to sustain its services. Initially, when sellers sign up, they are classified as Regular StufBasers, subject to a 20% commission cut on each sale.

However, StufBase encourages sellers to achieve higher sales volumes by offering a tiered system that rewards their successes. After reaching a milestone of sales worth BDT 100,000, sellers are promoted to the Pro StufBaser level, which reduces their commission cut to 15% per sale. As sellers continue to excel and reach a significant milestone of sales worth BDT 500,000, they are further elevated to the Ultra StufBaser level, where the commission cut decreases to 12%.

This tiered system allows sellers to gradually decrease their commission payments as they make more sales, providing them with increased financial incentives and rewards for their exceptional performances. By offering lower commission rates based on sales achievements, StufBase aims to motivate sellers to maximise their earning potential and strive for greater success within the platform.

Syed Md. Rakeen: The perception of the content creators regarding the prices of the contents may vary, as it is highly subjective. Would you please share if there is any standardised pricing policy for different types of content available on StufBase?

Junaid Tarik Deep: At StufBase, we believe in empowering creators to have full control over their individual pricing strategies. We have a flexible approach when it comes to pricing, allowing sellers to set any price point they desire for their products. Moreover, we go beyond conventional pricing models by providing an option for sellers to offer their products for free. We understand that each digital creation is unique, and creators should have the freedom to determine the value of their works based on their own judgements and market dynamics.

With this philosophy in mind, StufBase does not enforce standardised pricing policies across different types of products. Instead, we embrace the diversity of digital content and enable sellers to set prices that align with their objectives and the perceived value of their offerings.

However, if we ever find any absurd pricing for a specific content, we plan to directly communicate with the seller for any further clarification so that we can make sure all contents have a win-win situation for both parties.

Syed Md. Rakeen: On a digital platform, there is always a probability of the upload of stolen contents, theft of contents, copyright infringement, and so on. How does StufBase ensure protection for content creators, and how does the whole due diligence process work before digital contents are uploaded on StufBase?

Junaid Tarik Deep: As mentioned earlier, StufBase follows a rigorous approval process where the admin reviews all the products before they can be listed for sale in the marketplace. However, in the event of any copyright infringement or other issues arising after a product has been uploaded, StufBase provides a flagging system to address such concerns.

The flagging system serves as a warning mechanism for products that may violate the stated terms and conditions of StufBase. If a product receives three flags, StufBase reserves the right to remove the enlisted product from the platform. This action is taken to ensure compliance and maintain the integrity of the marketplace.

In cases where sellers repeatedly violate the terms and conditions, StufBase may take further action by suspending or banning the sellers’ accounts. This is done to enforce the platform's policies and ensure a safe and fair environment for all users. By implementing these measures, StufBase aims to protect the rights of creators, uphold copyright regulations, and maintain a high standard of quality within its marketplace. Since the creators submit copies of their NID cards for payment disbursements. Banned users with the same NID cards will not be able to sign up in the future. We are constantly looking for API solutions and AI models that will help us automate this process in the future.

As for buyers, whenever a product is purchased, the buyer is taken to a link on the website from where he or she can download the product along with their licence to use the product. This link is specific to the buyer’s IP address, and upon sharing the link with anyone else, the product will not transfer. This was implemented to ensure the seller’s copyright.

Syed Md. Rakeen: There is a wide variety of digital assets available on StufBase, including e-books, audio, fonts, videos, presentation templates, graphical arts, and many more. Which type of digital content on StufBase is currently attracting the most buyers and is expected to flourish on the platform?

Junaid Tarik Deep: Among the various features offered by StufBase, the e-ticket feature has gained significant popularity among users. This feature enables buyers to conveniently purchase and access electronic tickets for events, such as concerts, conferences, or workshops, directly through the platform. The e-ticket feature has proven to be highly utilized by users, indicating its usefulness and convenience in facilitating ticketing transactions. Additionally, StufBase has observed a considerable demand for design assets, e-books, and audio products, such as music tracks. In the very near future, as soon as we launch our streamable products, we expect to see a wide range of online courses and masterclasses flourish on our platform.

Syed Md. Rakeen: StufBase won a position in the top 50 startups at the Bangabandhu Innovation Grant 2023. Would you kindly share with us how the journey was and how StufBase is planning to utilise the grant?

Junaid Tarik Deep: This funding presents a great opportunity for StufBase to invest strategically and expand in areas where there may be existing gaps, such as international expansion, community building, quality assurance, marketing, and platform development. By strategically investing the innovation grant in these areas, StufBase can overcome existing limitations, expand its user base, and strengthen its position as a leading e-commerce platform for digital creators.

Syed Md. Rakeen: The business model of StufBase has good potential for scaling. Do you have any plans to take StufBase beyond Bangladesh and make it open for international content creators as well?

Junaid Tarik Deep: StufBase is working towards expanding globally, aiming to yield significant rewards, and fostering a global community of creators and buyers while empowering digital creators to thrive on a worldwide scale. We have already registered our company in Singapore, through which we plan to start our operations digitally in other South-Asian countries. With a user-friendly and inclusive approach, StufBase can become a truly global platform for the exchange of digital products and contribute to bridging the gap in international digital marketplaces.

Indeed, foreign transactions can be a major hurdle for digital creators, with issues such as currency conversion and cross-border payment processing. By going international, StufBase can offer solutions and infrastructure to facilitate seamless transactions for creators and buyers worldwide.

To reach Mr. Junaid Tarik Deep, please email at junaid@stufbase.io