Singapore (PRWEB) August 23, 2012
MobileApps.com has decided to cease operations to focus on a much larger global online advertising industry. Initially launched as a mobile app discovery platform & marketplace in early 2011, it targeted the highly niched mobile app industry. Due to the overcrowding of app stores, app developers find it hard to get their apps discovered and that was the gap that MobileApps.com was trying to fill.
After a year building out the solutions, the company realised that the market for developers is just too small for it to grow into a sizeable company. According to Alvin Koay, the CEO & founder, "We have a great technology and it does not do justice to it by just focusing on a small market. Instead, if we were to re-purpose our solutions for a much bigger industry, it makes more sense. The app discovery niche is only a small subset of the online advertising market. Therefore it is a much bigger opportunity to deploy our technologies in somewhere larger."
As reported by ZenithOptimedia this year, online advertising is the fastest growing medium, averaging 16% per year between 2011 and 2014 and forecasted to reach about USD100 million in 2013.
The company stopped all development work on MobileApps.com 3 months ago and had started building out a new DIY interactive rich media ad creation tool. It is currently in testing mode and will launch in a few weeks as RichMediaAds.com.
About MobilleApps.com Pte Ltd.
MobileApps.com Pte Ltd is a company incorporated in Singapore and received seed funding from a publicly-listed company in Japan. It was featured in various technology websites including TechCrunch and ZDNet Asia.