Bilemezsin

What did it do?

Bilemezsin (Turkish for 'You can't know') was a game platform for making predictions about topical issues, founded in May 2016 by four developer friends. Users started with 300 points, collected more through correct predictions and could exchange them for prizes in the app's shop. The game was completely free and never asked users for real money.

Why did it shut down?

Bilemezsin grew fast in 2017 and received the first investment made by Demirören Ventures. According to reports in 2017, the app was due to start generating revenue in the short term, and models such as native advertising, premium content and a data analytics-based B2B platform were being discussed. In September 2018 the team was preparing to raise its second investment. In December 2019 egirişim, a Turkish start-up news site, published the story of the start-up's failure as told by co-founder Berkan Cesur; in it Cesur talked about problems between the co-founders and the difficulties of entrepreneurship. The exact date of the closure was never made public; Internet Archive records show the site was live until August 2019.

The story

The idea for Bilemezsin was born of a dream its founder Berkan Cesur had at the age of 19: will a politician shave off his moustache within a week? Emerging in 2012 as an add-on for Ekşi Sözlük, Turkey's hugely popular collaborative online dictionary, the idea went viral on the back of one of the most talked-about topics of the day, then was shelved. Four years later, in May 2016, Cesur returned to the idea with Koray Eymur, Ece Köprücü and Can Ferman Gülmez.

The platform turned every topical issue into a prediction. Will it rain tomorrow, what will happen in a popular TV series, what will a celebrity do? Users started with 300 points, increased them with correct predictions and could claim prizes from the app's shop. The game was completely free. According to a Webrazzi report in May 2017, Bilemezsin had reached 40,000 daily active users and 112,000 members; each prediction was played by an average of 7,000 people. The start-up had won the Uber Pitch competition and been featured on the App Store without any advertising budget.

In September 2017 Demirören Ventures, the venture arm of the Turkish media group, made its first investment in Bilemezsin: 1.2 million TL at a valuation of $1.5 million. The team planned to firm up its revenue model with native advertising, premium content and a data-driven B2B platform. By September 2018 there was talk that they were preparing for a second funding round.

The expected second step never came. In December 2019 egirişim, a Turkish start-up news site, published the story of the start-up's failure as told by Cesur. In his account Cesur talked in particular about problems between the co-founders and the difficulties that come with entrepreneurship. The exact date of the closure was never announced, but Internet Archive records show the site stayed live until August 2019.

Bilemezsin's story is a reminder that even a fast-growing product that succeeds in entertaining its users may not survive without harmony within the team and a clear revenue model.

Lessons for founders

• Put alignment between co-founders on roles and expectations in writing before the first investment.
• In a free game with prizes, putting off the revenue model becomes more expensive the faster growth accelerates.
• A viral launch is not enough to create a lasting habit; track your retention metrics.

Sources

1. How a start-up that raised 1.2 million TL went under: Bilemezsin (in Turkish) (egirişim, 2019-12-08)
2. Popular prediction game Bilemezsin reaches 40,000 daily active users (in Turkish) (Webrazzi, 2017-05-09)
3. Bilemezsin raises investment from Demirören Ventures at a $1.5 million valuation (in Turkish) (egirişim, 2017-09-07)
4. Interview with Berkan Cesur, co-founder of Bilemezsin, as it prepares for its second investment (in Turkish) (egirişim, 2018-09-09)

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