Product Description: Questo is a mobile app for city exploration games. With Questo, users play quests and solve clues in order to discover new places and learn amazing stories. Each quest has its own theme and is created by a local storyteller who gets a shared revenue. On average, a quest lasts for about 2 hours and has a length of 3 km.
HQ: Bucharest, Romania
Product: Questo App
Category: Emerging company
Principal(s): Alex Govoreanu and Claudiu Petria
Competitive Edge: We offer quests, which are gamified walking tours that can be explored any time by solving clues in order to discover new places and learn amazing stories. Each quest has its own theme and is created by a growing global network of local storytellers who get a shared revenue.
Early Customers: Millennial couples in the EU represent about 40% of our current users. Their average age is 28 years and 65% of them are women.
Business Model: We have two main revenue streams: 1) Premium quests: clients pay €5-25 for playing a quest. Sales channels: app, website, OTAs. 2) B2B: We work with large tour operators and travel agencies who want to offer flexible and fun experiences to their customers.
Competitors: We compete with walking tours and urban exploration games.
Funding: 2 angel rounds. Looking to raise a larger round in 6 months.
Market Opportunity: The global market for tours and activities is worth more than $170B per year. In parallel, the market for real world games is just being created with the advent of popular games such as Pokemon Go or Ingress (in the first two years alone, Pokemon Go had more than $2B in revenue).