TechCrunch and ZDNet Asia featured site, MobileApps.com has decided to cease operations to focus on a much larger global online advertising industry after operated for more than a year. Launched in early 2011, MobileApps.com was initiated as a mobile app discovery platform & marketplace for app developers.
Alvin Koay, the CEO and founder of MobileApps.com said they just realized the market for developers is very small after one year and is hard for them to grow into a sizeable company. Alvin added that they have great technology and they should target larger and potential market such as online advertising. 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.
MobilleApps.com is owned by MobileApps.com Pte Ltd, a company incorporated in Singapore and received seed funding from a public listed company in Japan.
by Terry Brown