Barsection is a Copenhagen-based service that offers its users a unique guide to nightlife based on their location. It already covers all of Denmark and has started to expand internationally with Sweden being first on the list. The idea was developed by Morten Feinschmecker and launched just about a year ago. Now the company has grown. Barsection has almost 10,000 downloads and employs 5 people who all are under the age of 22.
“We got an offer to sell the company for half a million Danish kroner after half a year, but declined to continue the development since we feel rather passionate about the idea,” shares Morten Feinschmecker, founder and CEO.
The business model behind the Barsection is twofold.
“Our business is a split between “the two-sided network” and the “freemium” models. We will give the bars and discos unique ways to promote themselves. In the long run we will also provide them with an opportunity to have a number of additional features and benefits on their profile for a small monthly fee,” says Morten Feinschmecker
At the moment Barsection is also collaborating with Drinkster.DK, another Danish startup that focuses on nice deals and discount offers for the night activities. Barsection sees this partnership as rather productive one.
Currently the company is corresponding with one of Danish venture capital funds regarding potential investment, decision on which will be made based on market and user analysis after the launch of new app version. VC funds will primarily be spent on business expansion, in particular on online and outdoor marketing activities as well as for employing more people.
“Our goal is to be the no. 1 App guide for the nightlife in Europe within the next 2 years,” shares Morten.
Ambitious, but definitely manageable goal for future. Good luck!