20-Year-Old Wishes to Be the Next Internet Billionaire

April 3, 2011 - PRLog -- Singapore - April 02, 2011 - “A million dollars isn't cool. You know what's cool? A billion dollars.” was a line from the movie “The Social Network”, a film about the founding of social networking website Facebook, and that line has created a dream that an enterprising young person has set out to realize.

20-year-old Chew Guan Xun is the person behind the smartphone app called WhatElse. He created the application as he saw tremendous potential in the smartphone advertising market.

“Most of the money made on the Internet is off advertising. Look at Google and Facebook for instance.” says Mr Chew. “With WhatElse, I am able to take advertisements and place them in a showcase on a spot in the user's smartphone. This is a huge plus as the general idea of internet advertisements has been that of annoying pop-up windows and pesky sidebars.”

Indeed, ninety-nine percent of Google's revenue is derived from its advertising programs. Facebook's revenue largely also comes from advertising; despite the fact that its advertisements generally receive only one-fifth the rate of clicks compared to the web as a whole.

“Of course, much of the success of the Internet giants must be attributed to their enormous user base. As such, there will be an emphasis on the growth of the following of the application and making extremely attractive offers to would-be advertisement buyers.”

Facebook and Google ranked first and second respectively as the most visited websites in 2010, accounting for a total of more than 16 percent of all web visits. As of Jan 2011, Facebook has more than 600 million active users.

In order to entice advertisers, Mr Chew is selling spots on the application beginning from a price of US$1. In addition to competitive prices, a pricing structure also exists to ensure that the value of the advertisements, determined by the number of users, grows together with the cost of placing an advertisement.

He hopes that the demands of the app users and advertisers would feed off each other and fuel the growth in the usage of the application. He also hopes that the app will eventually become one of the “must-have” apps in any smartphone.

WhatElse is available for free download now from Google's Android Market. To find out more about the app, please visit www.whatelseweb.com.