Zenmoney Financial Startup Announces 2 Months Left For Project Maintenance

Published on April 08, 2015

Zenmoney Financial Startup Announces 2 Months Left For Project Maintenance

    About the personal finance service Zen-mani on Habré and Giktayms wrote several times (for example, here and here , and even on the toaster ). Moreover, for me personally, this service became the very silver bullet that trained to record expenses. More precisely, as an accustomed one - this is the only service known to me that automatically parses SMS messages from the bank and puts the expenses into the necessary categories of expenses. That is, all that laziness is usually done.



    Quote from my favorite Max Krainov: “an average of 10 days is required for an ordinary person who does not experience a financial nightmare to start and stop keeping records of expenses”

    Interestingly, most news and publications about the service relate to 2011. Then Zenmoney received a grant from Yandex and began to actively develop and publish. Then the development slowed down somehow, but all this time the service remained free.

    And now, just a couple of months ago, the service first announced the introduction of a partial paid functionality, then it significantly accelerated the rolling out of new features, but a few weeks ago, it admitted its deep unprofitableness:

    Let's start with the financial indicators of Zen-mani for February:
    Income: 46,500 rubles.
    Consumption: 190,000 rubles. (includes: taxes, salaries, accounting, office, hosting, technical services (HelpShift, Amazon SES, ..).
    Net loss: 143,500 rubles.
    WTF? The service is 5 years old, but are you still in the red? - Yes we ourselves are shocked. For
    4 years the service worked absolutely free. This is probably our biggest mistake. Once we received a grant, several times we did custom development. It kept the project afloat. But it either distracted us from Zen mani, or we lost focus. We were engaged in H.N. instead of important things. "
    The moment has come when it is necessary to change. We started this process three months ago with the introduction of a subscription in the iOS application. Last week, the subscription appeared in the Android application. Today we are transferring to subscription and web version.
    We have resources for another two months (March, April). During these two months we have to increase revenue, which means the number of customers willing to pay for the service by 4 (!) Times. ”

    Why am I writing this on the Gictimes? Firstly, it is interesting to observe the fate of a startup that started well, had every chance of success, but died out somewhere along the way. Now trying to start a pusher.

    Secondly, I have a personal interest - I like this service and I think that it will be useful to many. Seriously, for a long time I was looking for a personal finance accounting website that suits me, but only Zen mani came up. Although he has a lot of stocks (for example, he still does not know how to count interest on deposits if I perform income / expense transactions) and in general he is still far from ideal. But, from domestic projects known to me, he, I repeat, is the most comfortable. Accordingly, if it is bent, it will be unpleasant. Approximately the same as once with Google Reader.

    Ps at the end of the week, Zen-mani should publish a new post on financial performance. Let's see if he gets out of the minus.

    PPS I have nothing to do with the project, except that I keep financial records there