Appbackr is a relatively new platform intended to help developers find funding for their mobile app ideas, and it’s just announced a significant milestone: $1 million worth of Appbackr-funded apps have been sold in mobile app markets to date.
Here’s how Appbackr’s crowdfunding approach works: The service connects app developers with buyers (called backrs) who are interested in purchasing wholesale copies of the app in question. Developers get paid immediately, and backrs make a profit as the apps sell in the app marketplace(s).
Here’s a demo showing an example of how the platform might work in one scenario:
Also today, Appbackr is launching SmartApps, its algorithm for analytics that promises to identify the apps with the greatest commercial potential.
SmartApps takes into consideration an app’s pre-sale data, week-over-week growth, user reviews, comparative analytics and more. Eventually, these insights will be used to help developers and backrs know what works, what doesn’t and which ideas are more likely to find commercial success in the retail marketplace for mobile applications.
“The problem of getting apps to market effectively… as more apps continue to flood the app stores, is bigger than we thought, and it seems the only way to get noticed is to consistently remain or make it to the Top 10,” said Appbackr founder and CEO Trevor Cornwell in a release. “SmartApps functions like a poll predicting the numbers in a political race, driving the most exciting apps to the top of the list.”
So far, Appbackr, which launched last year, has worked with hundreds of apps, and the company says it’s seeing 149% sales growth from quarter to quarter.
And for paid apps and applications with in-app purchasing, Appbackr also has the Appbackr Catalyst Fund, which provides between $1,000 and $25,000 per project for approved applications.
Appbackr’s own funding includes $725,000 in seed money from Cambridge West Ventures, Zenith Group, Silicon Valley Association of Startup Entrepreneurs and the Hall Financial Group. The startup also won $50,000 from PayPal in a developer contest.
Image courtesy of pennstatelive.
Check out DevBeat, VentureBeat’s brand new channel specifically for developers. The channel will break relevant news and provide insightful commentary aimed to assist developers. DevBeat is sponsored by the Intel AppUp developer program.
More: MobileBeat 2016 is focused on the paradigm shift from apps to AI, messaging, and chatbots. Don't miss this opportunity: July 12 and 13 in San Francisco.