App store pioneer GetJar acquired by China’s Sungy Mobile for just $5.3M (and bonuses)

China’s Sungy Mobile today announced that it has acquired Getjar, one of the first third-party app stores to market, for $5.3 million in cash.Getjar, which is based in San Francisco, launched its app store back in 2004 and later pivoted into an Android app recommendation service. Sungy, on the other hand, is best known for its “GO” series of extremely popular Android launchers and went public just three months ago.Now official, this news first emerged last night on Gigaom, but with a significantly higher purchase price of “over $50 million.” This figure only make sense if you include the 1,443,074 Class A shares offered to Getjar if certain performance requirements are met.According to the official release and earlier reports, this deal was driven by Sungy’s interest in amping up discovery and advertising services. This is Sungy’s first international acquisition.

Why mobile app success is more than just download numbers

This discussion about mobile economy is one of the five themes we will be focusing on at the VentureBeat Mobile Summit, on April 25-26. We’ve carefully invited the top executives in mobile to discuss the biggest challenges of the day, which, if solved, can lead to much faster growth in the industry. And at our mobile “economy” session, we’ll talk about how monetization of mobile needs to move beyond just advertising, and we’ll have executives at table from the most important players, including Verizon, AT&T, Google, Zynga, Facebook Yahoo, Microsoft, Qualcomm, and many more. (If you think you should be part of the discussion, you can apply for a ticket.)