Category: Startup Company
Founded Year: 2017
HQ: Bucharest, Romania
Principal(s): Alex Govoreanu, CEO & Co-Founder; Claudiu Petria, COO & Co-Founder
Funding: We've had two angel rounds totaling about $200k and a grant from Booking.com of €20K
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 quests lasts for about 2 hours and has a length of 3 km.
Business Model: We have two main revenue streams: 1) Premium quests: B2C users pay €8-30 for playing a quest; we sell in our app, and on GetYourGuide and TripAdvisor. 2) B2B: We create custom quests for brands; we sell quests as activities for companies; we sell through travel agencies and tour operators.
Competitors: The most similar competitor is Secret City Trails, a web-based game. Then, there are other real-world games, tour guides, escape rooms.
Competitive Edge: We offer quests, which are a new type of fun and affordable 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.
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).
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.