I applaud the effort, but I guess I don't really understand what, exactly, it is. A GitHub clone? Hosted Git with no interface?

For example, take your first sentence: "Gitlab is an open source solution for version control of your coding projects." Doesn't that describe Git itself?

Assuming that Gitlab is an open source GitHub-alike, I'd make that clear right up top: "Gitlab is hosted Git with an open source web front-end." Then, if possible: screenshots.

I wouldn't make the one private repo your selling point, either, as others have pointed out. I would go with the open source angle -- that's your only real differentiating feature (that I know of), and the one that you should really emphasize.