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Geenapp Closes First Round of Financing
Innovative social-powered mobile app discovery startup secures $250K investment
“The greatest challenge facing developers is getting their apps in front of the right audience, while publishers are always looking for new ways to monetize their traffic – Geenapp addresses both these issues by harnessing the power of person-to-person recommendation on an international scale,” said Jaime Ferré, CEO of Geenapp. “The success of this first round of financing, plus our rapid growth, validates the unique business model we have created. After completely restructuring the company earlier this year, we have experienced exponential growth and have already achieved our breakeven point in four months.”
Geenapp is a unique self-service platform for mobile app discovery and promotion that enables developers and app stores to get their products in front of relevant customers through social recommendations. Rather than rely on ineffective traditional advertising, Geenapp targets popular users on social media platforms such as Twitter and gives them the opportunity to make personal app recommendations to their followers. By using Geenapp, developers and app stores can increase downloads, while publishers can monetize their mobile traffic by getting a percentage of revenue per download.
Alongside Wayra, individual investors in this first round included: Pedro Navarette, former vice-president of Sony Europe; César Bardaji, a former executive at PepsiCo, Winterthur, Renta Corporation and Gallina Blanca Star; Josep Moragas, an ex-council delegate of Acc10; and Arnau Porto, an analyst at Viking Global Investors. In addition, Patricio Hunt, director at the technology start-up accelerator Intelectium, has formed a partnership with Geenapp to pursue additional private and public investments, and will also act as an advisor for the company.
Geenapp handles over 20,000 active offers daily. The system automatically connects the best offers with publishers, who simply select the type of app they wish to promote. Each pay per installation (PPI) offer is validated through the platform to ensure quality. Publishers receive a smart link that they can easily share across social media or web sites to recommend apps to their friends, family and followers. Based on a revenue share platform, publishers receive a percentage of every app installation. The intelligent platform tracks popularity of downloads based on device and OS used, country of residence, areas of interest and personal preferences. Offers are presented based on popularity of the app, rate of conversion and monetary value.
Geenapp is a platform for app discovery and promotion that both increases downloads via targeted recommendations and monetizes content publishers’ mobile traffic. Additional information is available at http://www.geenapp.com/
Wayra’s objective is to promote innovation and discover new talents in the world of technology and communication (TIC) in Latin America and Europe. The global acceleration of projects supports entrepreneurs by providing technology tools, qualified mentors, leading technology installations and the necessary funding to increase growth. For more information http://www.wayra.co (http://www.geenapp.com/)