Holger Seim, co-founder and former CEO of Blinkist, shares the story behind the mobile-first microlearning app that condenses long-form content into 15-minute reads or listens. Topics discussed include finding a solid idea, revenue split between B2C and B2B markets, user acquisition and retention strategies, data-driven approach to relevance, customer acquisition costs and scaling, and the process of selling Blinkist and integrating with a new organization.
Passion and persistence were crucial in the success of Blinkist.
Blinkist solves the problem of fitting learning into busy schedules through 15-minute reads or listens.
The acquisition by Go1 allows Blinkist to leverage its consumer expertise and synergies between B2B and B2C.
Deep dives
Scale Up Slopes: A Community Event for Founders and Investors
Swisspinner is hosting Scale Up Slopes, an event for entrepreneurs and investors. It offers a day of skiing or co-working followed by a flying dinner and a keynote speaker from a Swiss scale-up. The event aims to connect entrepreneurs, investors, and potential employees to foster networking and learning about the scale-up journey.
Holger's Journey from Founding Blinkist to Scaling and Exiting the Company
Holger, the co-founder and former CEO of Blinkist, shares his personal background and passion for entrepreneurship. After working for big companies, he started Blinkist with his co-founders, driven by a strong desire to start something of their own. They validated the idea, garnered positive responses, and secured early investor confirmation. Despite initial challenges, they maintained their passion and kept going, eventually achieving product-market fit and gaining investor interest.
Building Blinkist: From Idea Validation to Content Creation and User Acquisition
Blinkist solves the problem of fitting learning into busy schedules by offering key insights from nonfiction books and other long-form content in 15-minute reads or listens. Their business model involves a freemium subscription, with a free blink of the day and premium access for subscribers. User acquisition is driven through diverse paid marketing channels, word of mouth, and their content's user relevance. Retention is achieved through personalization, content improvement, and features like spaces for social engagement.
Funding and Profitability: Navigating Growth and Financial Goals
Blinkist initially focused on growth and raising funds to reach a scalable position. As they considered profitability, they found a balance between growth and sustainability. While user acquisition costs can increase as the company grows, optimizing the conversion funnel and increasing content effectiveness can mitigate these costs. The decision to sell to Go1 was driven by strong strategic synergies and a mutually beneficial fit, allowing Blinkist to continue growing and leveraging their consumer expertise within the broader Go1 organization.
Transitioning from Blinkist to Go1: The Future of Learner-focused Solutions
Since the acquisition, Holger remains with Go1, now focused on their consumer brand, Blinkist, within the Learner division. There is strong alignment in vision and potential for synergy between B2B and B2C. As part of Go1, they operate as one entity with learners, employers, and content creators as the main stakeholders. Together, they aim to provide a learner-focused experience across multiple product offerings, combining their strengths and leveraging their shared growth opportunities.
43:30 - From early adopters to mainstream user base
About Holger Seim:
Holger Seim is the co-founder and former CEO at Blinkist, the mobile-first microlearning app. He holds a diploma from the Philipp University of Marburg and previously worked for companies like Volkswagen Group China and Deutsche Telekom before starting Blinkist in 2012.
Blinkist was created during the dawn of smartphones to solve a problem experienced not only by its co-founders but by many working professionals: wanting to learn new things, but not having the time to do so. They take long form content (mostly non-fiction books, but also podcast episodes and articles) and distill them into 15 minute reads or listens. Most features are behind a paywall, but there’s also 1 blink of the day that non-paying users can enjoy. Their user base includes both people who are readers and see Blinkist as a supplement, and people whose sole contact with books comes from Blinkist.
In 2023 Blinkist was acquired by the Australian content company Go1. This was a goal the Blinkist team had been pursuing ever since they took on VC money. Nowadays Holger is no longer the CEO of Blinkist but remains active as COO at Go1.
