BERLIN — Period tracking startup Clue has gained millions of users since it was founded in 2013. But there’s one small problem: It doesn’t actually make any money.
That’s all going to change later this year, according to CEO, Ida Tin, who told Business Insider on Wednesday that her company will start generating revenue in the second quarter of 2017.
Speaking to Business Insider at the company’s office in Kreuzberg, Berlin, Tin explained that Clue is running a number of revenue-generating “experiments” before deciding which ones to roll out more widely.
“We have a lot of experiments that we’re starting to run now,” said Tin, who has raised over $30 million (£24 million) from investors. “We don’t know yet what will work and what won’t work.”
Tin referenced two types of revenue-generating options that Clue is currently looking at. The first involves a premium app that users would have to pay for and the second involves adverts.
“I would love it if we could essentially provide so much value to people around understanding their body that that’s what people will pay for,” she said. “So a very consumer facing, kind of premium subscription type thing.”
When asked how much a premium version of the Clue app might cost, Tin said she had “no idea” and that the company is going through “that whole process” at the moment.
“I think we can also do something meaningful with helping people find really, really good products and services. So some kind of lead generation, revenue share or something. Hopefully executed in a way that will feel like a value add for users.”
Tin said the she ultimately expects Clue to derive revenues from a number of different channels.
Tin added that she’s using most of the venture capital funding to hire more staff. Clue currently employs around 50 people but that number is set to grow to over 80 in the next two years.
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