An Istanbul-based startup called Twentify took the stage this afternoon at TechCrunch Disrupt London 2015 to talk about their gig-finding app Bounty, which helps people find nearby small jobs they can do for extra cash. As the winner of the TechCrunch Disrupt Startup Alley Wild Card position, the co-founders only had a few hours notice to prepare their presentation before today’s Battlefield judges.
The Wild Card spot is selected by a combination of audience voting and editorial curation, and gives those with a booth in the Alley a shot at the big stage – and the Disrupt Cup. Twentify won its spot by a landslide, and the co-founders admitted they asked everyone they knew to vote.
Similar to U.S.-based apps like Gigwalk or Field Agent, the idea behind Bounty is to provide a bridge between companies and smartphone users, explains Twentify CEO Ilker Inanç, who was joined this afternoon by CMO Çaglar Bozkurt.
The founders said they were originally interested in doing a startup focused on crowdsourcing, but later realized that leveraging the power of the crowd via a mobile application is what held the most potential.
Like its competitors, Bounty users can browse for nearby jobs – “gigs” – using a map interface, or they can be notified when they’re close to a paying position.
These jobs range anywhere from a dollar up to $30 or $40, depending on the complexity involved. For example, a company may want someone to take photos of their billboard or check the pricing or inventory levels on a store shelf. However, while most of Bounty’s rivals are primarily focused on the retail industry, Bounty has differentiated itself by also offering other types of gigs.
For example, the app is also used for lead generation purposes by utility firms, security firms and banks, in addition to things like mystery shopping, field audits, price tracking and market research.
While ultimately the app is a way for users to make some extra pocket money, its top user is now bringing in $2,000 per month doing gigs through Bounty. Meanwhile, Twentify makes money by charging a commission on the gigs it hosts on its platform.
Currently, the Bounty app has 70,000 users doing jobs for 40 customers in Turkey, Canada and Mexico. The founders explain that their plan is to expand globally in the months ahead, and specifically will target developing markets like India, Russia, Brazil and Indonesia where the competitive landscape is less dense than in the U.S. The aim will be focusing on countries that have high GDP’s but lower GDP’s per capita, says Inanç.
Founded in February 2014, Twentify is backed by $1 million from TRPE Ventures and is planning to raise again in 2016 to fund its expansion efforts.