Oblee!: Rewarding Quiz Gaming Experience
At my startup, Oblee!, we offer engaging quiz games where users join sessions hosting 5-8 multiple choice questions. The top scorers are awarded prizes, prepared by consolidating user entry fees after deducting an administrative fee. With a pool of 20 or more users, we retain a 20% margin; with fewer participants, the margin increases to 25-30%. We allow multiple sessions to run concurrently, creating varied opportunities for users.
Mission: to engage and reward young users in gaming and pop culture Vision: to be the top employer for casual gamers and youths
We cater to everyday individuals with disposable income and various businesses seeking curated, fun quizzes for their team’s retreats.
It lets users earn money by staking "bets" (our entry fee per quiz game) on their knowledge of pop culture. And with an entry fee of 300 Nigerian Naira (less than 1 USD), they stand a chance to win many times more.
Africans have too small income that to invest, and avoid openly betting due to the negative perceptions around this. A quiz gives the same thrill and income as betting, minus the negative perception.
Our solution is Oblee!, a rewarding quiz gaming platform. Users can join low-cost pop culture quizzes and wager bets to win substantial prizes, thus making learning fun.
Technologies like mobile application development, cloud computing and gamification principles can power our innovative quiz platform.
Users pay a small fee to start or join a quizz cohort via the web or mobile app. The 2 fastest winners earn cash prizes which we send to them through payment gateway partners.
Oblee! offers an entertaining, intellectually stimulating platform to win cash while testing your pop culture prowess at a minimal cost.
We estimate the market size for which our solution is designed in monetary terms as follows
Is our goal in the next 3 years
My key role is both a product developer and CMO in this startup. I'm responsible for developing innovative products and leading marketing strategies.
Our team consists of a knowledgeable CEO, a tech-savvy co-founder, and two skilled software engineers. We could benefit from an experienced marketing specialist for brand promotion, and perhaps also an HR manager to maintain team dynamics and company culture.
Aside from HQ Trivia, NairaQuiz and QuizUp, our primary competitors likely include other online trivia platforms like Kahoot and Trivia Crack. These companies all offer engaging quiz gaming experiences similar to ours.
Our product advantage lies in our profound understanding of local cultures, challenges, and nuances. This awareness enables us to strategize the optimal approach for market entry.
Customers pay to access our quiz rooms, or cohorts, in exchange for a chance to earn prize money, bragging rights or fame on our communities
Our startup was freshly initiated today, currently in the conceptual phase as we meticulously shape and refine our promising idea to ensure its future success.
While our product is at the conceptual phase, we intend to monitor key metrics post-launch: Monthly Active Users (MAU), Average Revenue Per User (ARPU), month-on-month growth percentages, and average session length.
While we are still in the initial phase and don't have established financials, our projections display a promising outlook. Anticipating an average revenue per user (ARPU) of ₦2,500 monthly, buoyed by our robust operating model signals a strong potential for growth.
Our company incorporated in
The main risks include potential regulatory issues, relying heavily on user trust and participation to generate profits. Also, competition from other low-cost gaming platforms could drive down our margins or impact user retention negatively.
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We raised investments
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Currently, we are raising investments
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Estimated pre-investment valuation of the company
Our cash prizes are funded by user fees, net of administrative costs. Depending on the quiz, it requires 5 to 20 participants as a minimum. A cohort exceeding 20 draws an admin cut of approximately 20%, while smaller groups see slightly higher deductions.