Chomp is an application itself, as well as a website. It lets you search by keyword for iPhone, iPad, and Android apps, then provides ratings, top free apps, tending applications, new apps, apps on sale, and more. TechCrunch is reporting that Apple will use Chomp’s technology, along with its talent, to redesign how people find apps through the App Store.
Chomp declined to comment in an e-mail to VentureBeat.
The company’s product advisor, Digg co-founder Kevin Rose, tweeted soon after the report surfaced saying, “Woo, Apple buys Chomp, stoked to have been involved! Huge congrats to the Chomp team!”
The App Store has often been criticized for not helping users easily find the application they want– particularly if they don’t know they want it. It is broken down by category, such as utilities, games, business, and it also has “top 25″ lists. But it’s still difficult if you’re a new app developer to get App Store publicity.
The acquisition may show Apple’s intent to use its cash to reinvest in its products, as opposed to giving out dividends. Apple today had its first shareholders meeting since the death of co-founder Steve Jobs. During the meeting, chief executive Tim Cook said the company has more than enough money to run on and is heavily considering how to use Apple’s cash to benefit its shareholders. Bloomberg Businessweek is reporting that Chomp was purchased for $50 million, though the company has not revealed the amount.
Chomp is headquartered in San Francisco, Calif. and has raised around $2.5 million in funding from Ron Conway, Aydin Senkut (who is also an investor in VentureBeat), David Lee, Auren Hoffman, Brian Pokorny, and BlueRun Ventures.
We have reached out to both Apple and Chomp and will update upon hearing back.