Tracxn - Mobile App Studios Startup Landscape

Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Mobile App Studios - Jul 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on July 2, 2018.
Mobile App Studios Feed Summary
4
Mobile App Studios > Feed Summary
All companies whose core business model is to develop mobile apps and make them available to the end users through
different platforms like app stores, own websites, etc.
• Inclusions: App studios which develop mobile apps for
consumers, enterprises and also sell or provide their
products to the users directly with their own brand name.
• Exclusions: 1) All app distribution platforms including
but not limited to different app stores.2) Third-party app
developers who develop apps for enterprises, where the
clients publish and/or market the apps with their own
brand names for internal or external use.3) Companies
involved solely in the development and distribution of
mobile app based games since they are viewed as
belonging to a different sector - Mobile Game Studios
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$503M
Funding
3
Mega
Companies
801302
FundedCovered on
Tracxn
-
Unicorns
-
Soonicorns
3
Minicorns
1
IPO’d Cos
26
Late Stage Cos
3
2
Acquisitions
103
DeadPooled
13
Acquihired
Series A+ Cos
Amino Apps
(2011, New York City, $72.4M)
OpenSignal
(2010, Laguna Hills, $14.4M)
MySQUAR
(2013, Yangon, Public)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Mobile App Studios
5
$82M - Series H
Movile (1998, Sao Paulo, $271M)
$26.9M - Series B
Yogome (2012, San Francisco, $36.7M)
$53M - Series F
$19.2M - Series B
Amino Apps (2011, New York City, $72.4M)
$45M - Series C
$9.1M - Series B
OpenSignal (2010, Laguna Hills, $14.4M)
$40M - Series F
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Mobile App Studios > Feed Summary > Investment Trend Summary
Seed
GV (#2), Advancit Capital (#1), Bertelsmann Digital Media
Investments (#1)
Series A/B
AIB Seed Capital Fund (#1), Altos Ventures Capital (#1), Ascent
Capital (#1)
Series C+ Innova Capital (#1)
Incubators Techstars (#2) Flux Accelerator (#1)
Other Notable
Investors
Amplify (#1), ARC Angel Fund NYC (#1), Axel Springer SE (#1)
Debt Investors
Most Active InvestorsRecent Investments
16 12 15 10 8 4
$10M
$74M
$61M
$73M
$145M
$83M
2013 2014 2015 2016 2017 2018*
$ Funding # Rounds
$271M
$172M
$45.6M
$9.5M
$7.5M
Latam
US
Europe
India
SEA
$ Funding
152
133
112
82
20
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded

Summary of exit outlook in Mobile App Studios
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
I5invest Beratungs 1 Runtastic (2009, Pasching, $188k)
Summit Partners 1 Jamba (2000, Berlin)
Axel Springer SE 1 Runtastic (2009, Pasching, $188k)
Yonder & Beyond 1 MySQUAR (2013, Yangon, $3.2M)
Bell Pottinger 1 MySQUAR (2013, Yangon, $3.2M)
Aug 2015 Runtastic Acq by adidas Group for $240M
May 2004 Jamba Acq by VeriSign for $273M
Mobile App Studios > Feed Summary > Exit Outlook Summary
VeriSign 1 Jamba (May 2004, $273M)
adidas Group 1 Runtastic (Aug 2015, $240M)
Recent IPOs Top Acquisitions
MySQUAR Jul 2015
Social chat app
IPO MCap: $29M Current MCap: -

Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
FACTSHEET
Overview
Companies 1302
Funded 80 Series A+ 26
Funding $503M Last 2 yrs $228M
Most Active Investors
Seed GV (2)
Series A/B Venrock (1)
Series C+ Innova Capital (1)
Others Amplify (1)
Incubators Techstars (2)
Top Cities
Sao Paulo 4 Cos $271M
Bay Area 69 Cos $69M
Feed in Numbers
Unicorns - Soonicorns -
Minicorns 3 Editor Picks 20
Acquihired 13 Deadpooled 103
Top Companies
MySQUAR (2013, Yangon, Public)
Exits
IPOs 1 MySQUAR
Acquisitions 2 Runtastic , Jamba
Top Acquirers adidas Group, VeriSign
Marketmap: Mobile App Studios
MULTI-CATEGORY
SOCIAL PLATFORMS
CONTENT
PHOTO & VIDEO
MEDIA & CONTENT
E-READERS
EDUTAINMENT
PRODUCTIVITY
SYSTEM MANAGEMENT
UTILITIES
PERSONALIZATION
HEALTH & FITNESS
TRAVEL
7
Mobile App Studios > Feed Summary > BlueBox
Feed Report - Mobile App Studios - Jun 2018
For any Feedback and Query reach out to MyAnalyst@tracxn.com
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.

Key Sub Sectors in Mobile App Studios Sector
Summary of Key Markets
8
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Horizontal
Companies that develop consumer mobile apps across
different verticals
364 21 $288M
Social Platforms
Companies that develop apps majorly related to social
networking and mobile communication
53 13 $105M
Education
Companies that develop apps related to education
325 5 $39.2M
Utilities
Companies that develop apps related to user
productivity and system management for phones
241 15 $26.6M
Health & Fitness
Companies that develop apps related to health and
fitness like health guidance, BP checkup,...
39 6 $20.3M
Photo & Video
Companies that develop apps related to photos and
videos like camera apps, gallery apps,...
91 10 $9.7M
Media & Entertainment
Companies that develop apps related to
entertainment, music etc
75 3 $9.2M
Mobile App Studios > Feed Summary > Summary of Key Markets

List of Notable Companies in Mobile App Studios
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Mobile App Studios > Feed Summary > Notable Companies in the Sector
Public
MySQUAR
(2013, Yangon, $3.2M)*
Acquired
Jamba
(2000, Berlin)
Runtastic
(2009, Pasching, $188k)

List of Notable Companies by Market in Mobile App Studios
Notable Companies by Market
11
Mobile App Studios > Feed Summary > Notable Companies by Market
Horizontal
Horizontal
MySQUAR (2013, Yangon, $3.2M)
Social chat app
Editor's Pick. Stage: Public
Yonder & Beyond, Bell Pottinger, Pix Vine Capital
Jamba (2000, Berlin)
Developer of mobile apps in multiple fields
Stage: Acquired
Summit Partners
Health & Fitness
Health & Fitness
Runtastic (2009, Pasching, $188k)
Fitness and health tracking apps
Editor's Pick. Stage: Acquired
Axel Springer SE, I5invest Beratungs

List of Notable Companies in Mobile App Studios in China
Notable Companies in the Sector in China
12
Mobile App Studios > Feed Summary > Notable Companies in the Sector in China
Public
Sungy Mobile
(2003, Guangzhou, $20M)
Utoo
(2009, Nanjing)
Cheetah Mobile
(2010, Beijing, $60M)
Unicorns
Yixia
(2011, Beijing, $775M)
APUS Group
(2014, Beijing, $116M)
Soonicorns
DotC United
(2014, Beijing, $395M)
Holaverse
(2012, Shanghai, $80M)

Recent News in Mobile App Studios Sector
Recent News
13
Mobile App Studios > Feed Summary > Recent News
Jun 2018 Vivo launches fibre broadband and TV in Divinopolis, Telecompaper
Jun 2018
MySQUAR says Singapore money transfer tests go well, Proactive
Investors
Jun 2018 Cheetah Mobile Announces Management Change, PR Newswire
Jun 2018
Cheetah's New App Lets Crypto Investors Track Portfolios on the
Go, CoinDesk
Jun 2018
MySQUAR raises £2mln to fund acquisition of mobile payments
systems group MyPay Myanmar, Proactive Investors
Jun 2018
Vivo and Claro win government contract for telephony services,
Telecompaper
Jun 2018
APUS bets big on India’s burgeoning gaming industry with its LIVE
quiz mobile game “Go Millionaire”, Core Sector Communique
Jun 2018
Vivo Taps Netcracker’s BSS to Drive B2B Transformation,
TELECOMDRIVE
Jun 2018
China’s Vivo unveils US$800 notch-free phone with a pop-up
camera solution, South China Morning Post
Jun 2018
Amino raises $45M to bring fan communities to smartphones,
TechCrunch
Jun 2018
Nyansa Introduces Voyance WAN and Voyance Client Agent,
APMdigest
Jun 2018
MySQUAR Nets GBP250,000 After Bond Conversion Notice
(ALLISS), London South East
Key Recent News Key Recent News
Jun 2018
MySQUAR Gets Notice To Convert GBP350,000 Of Convertible
Bonds (ALLISS), London South East
Jun 2018
TouchPal Is Unveiling The 1st AR Emoji Feature In A Keyboard App,
ValueWalk
May 2018
Carrot, a weather app with personality, is coming to Android, The
Verge
May 2018
Latin America’s Movile is quietly building a mobile empire, Tech
News Universe
May 2018 Email client Spark becomes collaborative, TechCrunch
Apr 2018
XTD’s technology subsidiary teams with IBM for smart cities digital
solutions, Tech Capital
Mar 2018
Tokyo-Based Dream Incubator Leads Funding Round In E-Pharma
Myra, Franchise India
Jan 2018
Cheetah Mobile Off To Fast Start After Adding 58.com Founder To
Board, Investor's Business Daily
Jan 2018
Northsight Capital Closes Acquisition of Crush Mobile App,
GlobeNewswire
Jan 2018 Vivo partners with Twitter, Telecompaper
Jan 2018
World’s first in-display fingerprint scanning smartphone by Vivo
revealed at CES 2018, TechGenYZ
Jan 2018
MySQUAR Responds To Reports Of Discussions With China's
Tencent, Morningstar
Jan 2018
Movile Invests Us$9m In Colombian Grocery Startup Mercadoni,
LAVCA

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
14
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Data as a Service
Jun 2018
Beauty Tech
Jun 2018
Gaming Enablers
Jun 2018

$18M $16M
$10M
$74M
$61M
$73M
$145M
$83M
0
5
10
15
20
25
$0k
$20M
$40M
$60M
$80M
$100M
$120M
$140M
$160M
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding # Rounds
Investments ($M) and number of rounds in Mobile App Studios; 2011-2018
Global Funding Trends (1/2)
16
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Mobile App Studios > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 13% # of Rounds41% $ Funding
14% # of Rounds
25% $ Funding

$8M $1M $4M $8M $3M $3M $3M $2M
$10M
$15M
$6M
$11M $18M
$30M
$7M
$36M
$55M $40M $40M $135M $45M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
18 7 12 9 8 6 5 1
2
3 4
2
6 3
1
2
1 1 1 2 1
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
20
4
Total # of Rounds
$0K $0K $0K
$55M
$40M $40M
$135M
$72M
0
0.5
1
1.5
2
2.5
0
20000000
40000000
60000000
80000000
100000000
120000000
140000000
160000000
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding # of Rounds
17
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded ClubMega Rounds
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Mobile App Studios; 2011-2018
Mobile App Studios > Investment Trends > Global Funding Trends
22
10
6
5
4
3 1
51$1.3M
$1.0M
$0.0M
$0.2M
$0.4M
$0.6M
$0.8M
$1.0M
$1.2M
$1.4M
$1.6M
$1.8M
$2.0M
0
10
20
30
40
50
60
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
- - - 1 1 1 2 2 $1.3M $0.5M $1.8M $0.4M $0.7M $0.3M $1.8M $1M
$18M
$83M
Total $ Invested

Mobile App Studios > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Mobile App Studios
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Sao Paulo 271M 8
New York City 80.4M 12
Bay Area 74.2M 22
Stockholm 16.7M 2
Laguna Hills 14.4M 3
Stuttgart 10M 1
Paris 6M 2
Dublin 3.9M 6
Jakarta 3.5M 3
Yangon 3.2M 2
Total Funding
8
47
30
12
10
2
2
# Rounds
$271M
$172M
$45.6M
$9.5M
$7.5M
$2.1M
$65k
Latam
US
Europe
India
SEA
South Korea
Japan
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.6 $0.7
$0.5
$1.0
$0.5
$0.7 $0.8
2011 2012 2013 2014 2015 2016 2017
$10.0
$5.0
$1.8
$5.4
$3.6
$1.0
$6.6
$0.0 $0.0
$2.4
$0.0 $0.0
$14.6
$0.0
$0.0 $0.0 $0.0
$55.0
$40.0 $40.0
$67.5
Mobile App Studios > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Mobile App Studios; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$30K* $2.7M
$800K $10M
$2.4M $26.9M
$40M $82M
$49M
$10M
$4M
$580K
Series C+
Series B
Series A
Seed
Stage

Note: 43 companies with undisclosed funding amount are not included
20
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
17
20
5
1
1
No. of Companies
Mobile App Studios > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Mobile App Studios; as of Jul 2018
Distribution of companies by Funding Range
$4M
$67M
$88M
$72M
$271M
$ Investment

Stage No. of Companies
Funding
Funnel
100%
6%
2%
1%
0%
21
Note: Numbers in the brackets show the count of companies
Time to raise
next round
3
9
26
80
1302
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
6% 0%
(3)
0%
(3)
1%
(14)
8%
(103)
85%
(1105)
33% 4%
(3)
4%
(3)
4%
(3)
13%
(10)
51%
(41)
35% 8%
(2)
8%
(2)
4%
(1)
8%
(2)
54%
(14)
33% - - 11%
(1)
- 56%
(5)
- - - 33%
(1)
- -
Mobile App Studios > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Mobile App Studios
Funding Funnel
19 Months
20 Months
18 Months
Investment backedBootstrapped
2
1
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Mobile App Studios > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Mobile App Studios; Jul 2016-Jul 2018
Notable Investments in last 24 months
LATE STAGE
$82M - Series H Dec 2017
Mobile Apps/Platforms and Marketing for
Entertainment
Naspers, Innova Capital
$53M - Series F Jun 2017
Mobile Apps/Platforms and Marketing for
Entertainment
Naspers, Innova Capital
$45M - Series C Jun 2018
Online communities enabler
GV, Venrock, Union Square Ventures, Goodwater
Capital, Time Warner, Hearst
EARLY STAGE
$26.9M - Series B Mar 2018
STEM focussed mini mobile games for 6-12 age kids
Exceed Capital, Seaya Ventures, Insight Venture
Partners, Variv Capital
$19.2M - Series B Dec 2016
GV, Venrock, Union Square Ventures, BoxGroup,
Time Warner, Goodwater Capital
$9.1M - Series B Mar 2018
Develops apps related to network connection and
wireless signal coverage
Octopus Ventures, Qualcomm Ventures, O'Reilly
AlphaTech Ventures, Passion Capital

Mobile App Studios > Investment Trends > Notable Investments in last 24 months in China
Major funding rounds by Stage in Mobile App Studios; Jul 2016-Jul 2018
Notable Investments in last 24 months in China
LATE STAGE
$500M - Series E Nov 2016
Yixia (2011, Beijing, $775M)
Mobile app studio for photo and video apps (Parent
company of Miaopai)
EARLY STAGE
$350M - Series B Jul 2017
DotC United (2014, Beijing, $395M)
Developer of mobile apps related to system
management
$45M - Series A Jul 2016
DotC United (2014, Beijing, $395M)
Developer of mobile apps related to system
management
Banyan Capital, Chengwei Capital, Bertelsmann Asia
Investment Fund, Lightspeed China Partners,
Morningside Ventures

Most Active Investors (VC, PE) by Stage in Mobile App Studios; Last 5 years (Jul 2013-Jul 2018)
Most Active VC & PE Investors
24
Mobile App Studios > Investment Trends > Most Active VC & PE Investors
SEED STAGE
GV (2 Investments)
Amino Apps, Egomotion Corp
1
SV Angel
Amino Apps
2
Initialized Capital
Egomotion Corp
3
KEC Ventures
Kanvas Labs
4
Union Square Ventures
Amino Apps
5
BoxGroup
Amino Apps
6
Kalaari Capital
Global Delight
7
Greycroft Partners
Splash
8
Seedcamp
Splash
9
E.ventures
Splash
10
EARLY STAGE
Venrock
Amino Apps
1
SparkLabs Global Ventures
Lifesum
2
Seaya Ventures
Yogome
3
Variv Capital
Yogome
4
East Ventures
Siamsquared Tech
5
Goodwater Capital
Amino Apps
6
Battery Ventures
Joya
7
Insight Venture Partners
Yogome
8
CyberAgent Ventures
Siamsquared Tech
9
Octopus Ventures
OpenSignal
10
LATE STAGE
Innova Capital
Movile
1

Mobile App Studios > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Mobile App Studios; Last 5 years (Jul 2013-Jul 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Techstars(2 Investments)
Amino Apps, ReAble
1
Flux Accelerator
Vidapp
2
OTHER NOTABLE INVESTORS
Amplify
StoryToys
1
ARC Angel Fund NYC
Kanvas Labs
2
Axel Springer SE
Runtastic
3
Bauer Media
Lifesum
4
DeNA
Splash
5
Dream Incubator
MetaRain
6
Endeavor
Yogome
7
ENISA
Skitude
8
ESADE
Skitude
9
Exceed Capital
Yogome
10

Mobile App Studios > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club

Mobile App Studios > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
28
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Mobile App Distribution
May 2018
Wedding Tech
May 2018
Online Gifting
May 2018

Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
FACTSHEET
Marketmap: Mobile App Studios
30 Feed Report - Mobile App Studios - Jun 2018
Mobile App Studios > Market Details > BlueBox

Key Sub Sectors
31
Key Sub Sectors in Mobile App Studios
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Horizontal
Companies that develop consumer mobile apps across different verticals
MySQUAR (2013, Yangon, Public)
364 21 $288M
Social Platforms
Companies that develop apps majorly related to social networking and mobile communication
Seed Labs (2009, Austin, Acquired)
53 13 $105M
Education
Companies that develop apps related to education
StoryToys (2008, Dublin, $2.3M)
325 5 $39.2M
Utilities
Companies that develop apps related to user productivity and system management for phones
RadioOpt (2008, Dresden, Acquired)
241 15 $26.6M
Health & Fitness
Companies that develop apps related to health and fitness like health guidance, BP checkup,
exercise training, etc
Runtastic (2009, Pasching, Acquired)
Lifesum (2008, Stockholm, $16.7M)
39 6 $20.3M
Photo & Video
Companies that develop apps related to photos and videos like camera apps, gallery apps, GIF
apps, etc.
Kanvas Labs (2011, New York City,
Acquired)
Global Delight (2008, Udupi, $3.2M)
91 10 $9.7M
Companies that develop apps related to entertainment, music etc
doubleTwist (2007, San Francisco, $7.5M)
Musopia (2011, Helsinki, $1.7M)
75 3 $9.2M
Content
Companies that develop content platforms where users can download music, movies, info, etc.
Acrylic Software (2009, Vancouver,
Acquired)
Apps Foundry (2010, Jakarta, $3.5M)
28 2 $3.5M
Travel
Companies that develop apps related to travel like trip planning, tour guidance, navigation etc.
Skitude (2011, Brighton, $863k)
Blue Crow Media (2010, London, $97.2k)
23 4 $961k
Sports
Companies that develop apps related to sports
Footplr (2012, Seoul)
Core Coders (2008, Worthing)
12 0 -
Mobile App Studios > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/4)
32
Mobile App Studios > Market Details > Detailed Sector Taxonomy

33

34

35

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
36
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies
38
Performance indicators of public companies in Mobile App Studios
IPO Date Company
Current
MCap
IPO
Mcap
Revenue P/E
Exchange
Ticker
Apr 2016
Utoo (2009, Nanjing)
Mobile app studio developing productivity apps
Neeq:836746
Jul 2015
MySQUAR (2013, Yangon)
Social chat app
$29M $795k LON:MYSQ
May 2014
Cheetah Mobile (2010, Beijing)
Mobile and PC security products
$1.8B $1.9B $657M 8.27 NYSE:CMCM
Nov 2013
Sungy Mobile (2003, Guangzhou)
Mobile app studio that develops apps related to personalization and
system management
$363M GOMO
Mobile App Studios > Exit Outlook > Public Companies

Notable Acquisitions
39
Notable Acquisitions in Mobile App Studios
Mobile App Studios > Exit Outlook > Notable Acquisitions
2015
Acquirer: adidas Group Deal: $240M
Before 2008
Acquirer: VeriSign Deal: $273M

Most Active Acquirers
40
Mobile App Studios > Exit Outlook > Most Active Acquirers

Acqui-hires
41
List of Acqui-hires in Mobile App Studios
Excludes all details for Chinese companies
Date Target
Jan-18 Crush Mobile Acq by Northsight Capital
Jul-17 JRummy Apps Acq by Maple Media
Dec-16 Tiny Hearts Acq by Shopify
Nov-16 RadioOpt Acq by Vodafone Germany
Aug-15 Kanvas Labs Acq by America Online
Aug-15 Mizcoin Acq by ASPIRINGMINDS
Jun-15 Xerces Technologies Acq by JetSynthesys
Nov-14 Apalon Acq by Mindspark
Jun-13 GhostBird Software Acq by Yahoo
May-13 OneLouder Acq by Sprint
Jul-12 Acrylic Software Acq by Facebook
Jun-12 Seed Labs Acq by Cvent
Nov-11 Digital Staircase Acq by Facebook
Mobile App Studios > Exit Outlook > Acqui-hires
View all 13 Acqui-hired companies on Tracxn Platform

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
42
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Mobile App Studios > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Mobile App Studios; Last 5 years (Jul 2013 - Jun 2018)
Index of Most Active VC & PE Investors
SEED STAGE
GV (2 Investments)
BoxGroup
Kalaari Capital
Advancit Capital
Bertelsmann Digital Media Investments
E.ventures
Felix Capital
Greycroft Partners
Seedcamp
Matrix Partners India
Slow Ventures
SV Angel
Dace Ventures
Initialized Capital
EARLY STAGE
Venrock
Goodwater Capital
Seaya Ventures
Variv Capital
Draper Esprit
Nokia Growth Partners
Octopus Ventures
Altos Ventures Capital
Battery Ventures
Ascent Capital
AIB Seed Capital Fund
CyberAgent Ventures
East Ventures
LATE STAGE
Innova Capital

GV
45
Portfolio in Mobile App Studios | Exits | Funds Link | Website | LinkedIn | Twitter
Mobile App Studios > Investors > GV
People
Investments
[Minicorn] Amino Apps (2011, New York City, $72.4M, Series C)
Mobile App Studios Notable Portfolio
[Unicorn] Uber (2009, San Francisco, $22.5B, Series G)
Mobile app that connects passengers with vehicle drivers for hire
[Unicorn] Grail Bio (2016, Menlo Park, $2.5B, Series C)
Pan-cancer blood screening for circulating tumor DNA
[Unicorn] Cloudera (2008, Palo Alto, $1B, Public)
Commercialised versions of Hadoop distributions
[Unicorn] Slack (2009, San Francisco, $841M, Series G)
Real-time messaging, archiving and search for enterprise teams.
[Unicorn] Opendoor (2014, San Francisco, $646M, Series E)
Residential re-selling solution provider.
[Unicorn] Robinhood (2012, Palo Alto, $539M, Series D)
Zero commission trading app
[Unicorn] DocuSign (2003, San Francisco, $522M, Series F)
Digital Transaction Management Tool
[Unicorn] Stripe (2010, San Francisco, $511M, Series D)
Web & Mobile Payments for Developers
[Unicorn] 23andMe (2006, Mountain View, $491M, Series F)
Enables customers to study their ancestry, genealogy, and inherited
traits
[Unicorn] Carbon3D (2013, Redwood City, $422M, Series D)
CLIP technology based 3D Printer
[Unicorn] Clover Health (2014, San Francisco, $325M, Series D)
Healthcare insurance for senior citizens
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
David Krane
CEO & Managing
Partner
Geographical Spread Stage of Entry
Jun 2018
Amino raises $45M to bring fan communities to
smartphones, TechCrunch
Dec 2016 Amino Apps Grabs $19.2M Series B Round, VC News Daily
Jan 2015
Egomotion Raises $250k To Automatically Tell Your
Friends Where You Are, Whether Or Not You’re Driving,
TechCrunch
None
1 1
2
2013 2014 2015 2016 2017 2018
Follow On New Investments
-
-
-
-
3
Undisclosed
Series C+
Series B
Series A
Seed3
-
-
-
-
US

46
Mobile App Studios > Investors > Union Square Ventures
People
Investments
[Unicorn] Twitter (2006, San Francisco, $755M, Public)
Social networking platform for real-time updates
[Unicorn] Zynga (2007, San Francisco, $707M, Public)
Casual games developer and publisher for mobile and web platforms
[Unicorn] Coinbase (2012, San Francisco, $442M, Series E)
Digital currency exchange & wallet provider
[Unicorn] Funding Circle (2010, London, $373M, Series F)
P2P lending marketplace for small businesses
[Unicorn] MongoDB (2007, New York City, $311M, Public)
NoSQL database
[Unicorn] Twilio (2007, San Francisco, $240M, Public)
Cloud Communications API provider
[Unicorn] CloudFlare (2009, San Francisco, $182M, Series D)
DDoS prevention, cloud application acceleration, and CDN
[Unicorn] Lending Club (2006, San Francisco, $162M, Public)
P2P online lending marketplace
[Unicorn] Kik (2009, Toronto, $121M, Series D)
Mobile messaging app with in-built browser
[Soonicorn] SoundCloud (2007, Berlin, $363M, Series F)
Ad-supported music streaming open platform
Top Exits
Brad Burnham
Co-Founder &
Managing Partner
Fred Wilson
Co-Founder &
Managing Partner
Jun 2018
None
1 1 11
2013 2014 2015 2016 2017 2018
-
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
US

BoxGroup
47
Mobile App Studios > Investors > BoxGroup
People
Investments
[Unicorn] Oscar (2012, New York City, $893M, Series B)
Internet-first health insurance provider
[Unicorn] Warby Parker (2010, New York City, $300M, Series E)
Internet-first brand of eyewear
[Unicorn] Blue Apron (2012, New York City, $194M, Public)
Weekly subscription based meal kits delivery
[Soonicorn] Dataminr (2009, New York City, $400M, Series E)
Social media analytics
[Soonicorn] Flexport (2013, San Francisco, $304M, Series C)
Online freight forwarder
[Soonicorn] ClassPass (2011, New York City, $222M, Series C)
Membership programs for fitness classes across multiple gyms
[Soonicorn] Boxed (2013, New York City, $134M, Series C)
Discounted Bulk-sized Products
[Soonicorn] Handy (2012, New York City, $112M, Series C)
Web and mobile-based marketplace for availing home maintenance
services
[Soonicorn] Artsy (2009, New York City, $107M, Series D)
Curated Art Marketplace
[Soonicorn] Spring (2013, New York City, $100M, Series C)
Online retailer of fashion products
Top Exits
Adam
Rothenberg
Co-Founder & Partner
David Tisch
Co-Founder &
Managing Partner
Nimi Katragadda
Greg Rosen
Jun 2018
None
11
2013 2014 2015 2016 2017 2018
1
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed2
-
-
-
-
US

Kalaari Capital
48
Mobile App Studios > Investors > Kalaari Capital

Advancit Capital
49
Mobile App Studios > Investors > Advancit Capital

Bertelsmann Digital Media Investments
50
Mobile App Studios > Investors > Bertelsmann Digital Media Investments

E.ventures
51
Mobile App Studios > Investors > E.ventures

Felix Capital
52
Mobile App Studios > Investors > Felix Capital

Greycroft Partners
53
Mobile App Studios > Investors > Greycroft Partners

Seedcamp
54
Mobile App Studios > Investors > Seedcamp

Matrix Partners India
55
Mobile App Studios > Investors > Matrix Partners India

Slow Ventures
56
Mobile App Studios > Investors > Slow Ventures

SV Angel
57
Mobile App Studios > Investors > SV Angel

Initialized Capital
58
Mobile App Studios > Investors > Initialized Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
59
Seed Stage
Early Stage
Late Stage

Venrock
60
Mobile App Studios > Investors > Venrock

Goodwater Capital
61
Mobile App Studios > Investors > Goodwater Capital

Seaya Ventures
62
Mobile App Studios > Investors > Seaya Ventures

Variv Capital
63
Mobile App Studios > Investors > Variv Capital

64
Mobile App Studios > Investors > Insight Venture Partners

65
Mobile App Studios > Investors > SparkLabs Global Ventures

Draper Esprit
66
Mobile App Studios > Investors > Draper Esprit

Nokia Growth Partners
67
Mobile App Studios > Investors > Nokia Growth Partners

Octopus Ventures
68
Mobile App Studios > Investors > Octopus Ventures

Altos Ventures Capital
69
Mobile App Studios > Investors > Altos Ventures Capital

Battery Ventures
70
Mobile App Studios > Investors > Battery Ventures

Ascent Capital
71
Mobile App Studios > Investors > Ascent Capital

AIB Seed Capital Fund
72
Mobile App Studios > Investors > AIB Seed Capital Fund

CyberAgent Ventures
73
Mobile App Studios > Investors > CyberAgent Ventures

East Ventures
74
Mobile App Studios > Investors > East Ventures

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
75
Seed Stage
Early Stage
Late Stage

Innova Capital
76
Mobile App Studios > Investors > Innova Capital

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
77
Incubators
Other Notable Investors
Debt Investors

Mobile App Studios > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in Mobile App Studios; Q2 2013 - Q2 2018
Index of Ecosystem Investors
INCUBATOR
Techstars (2 Investments)
Flux Accelerator
OTHER NOTABLE INVESTORS
Amplify
ARC Angel Fund NYC
Axel Springer SE
Bauer Media
DeNA
Dream Incubator
Endeavor
ENISA
ESADE
Exceed Capital
Finep
Digital Garage
Hearst
IESE Business School
KDDI

Techstars
79
Mobile App Studios > Investors > Techstars
People
Investments
[Unicorn] Uber (2009, San Francisco, $22.5B, Series G)
Mobile app that connects passengers with vehicle drivers for hire
[Unicorn] Twilio (2007, San Francisco, $240M, Public)
Cloud Communications API provider
[Soonicorn] Remitly (2011, Seattle, $227M, Series D)
Cross-border money transfer using banking networks.
[Soonicorn] ClassPass (2011, New York City, $222M, Series C)
Membership programs for fitness classes across multiple gyms
[Soonicorn] Leanplum (2012, San Francisco, $145M, Series D)
Mobile A/B testing, personalization & analytics platform
[Soonicorn] DataRobot (2012, Boston, $125M, Series C)
Automated machine learning platform for data science applications
[Soonicorn] Outreach (2013, Seattle, $125M, Series D)
SaaS based Lead Engagement Tools
[Soonicorn] DigitalOcean (2011, New York City, $124M, Series
B)
Cloud computing platform to build, deploy and scale cloud applications
[Soonicorn] Sphero (2010, Boulder, $108M, Series D)
Smartphone controlled robotic gaming toy for kids
[Soonicorn] Placester (2008, Cambridge, $101M, Series D)
Real Estate Marketing platform
[Soonicorn] Degreed (2012, San Francisco, $85.6M, Series C)
e-Portfolio assessment
Top Exits
Brad Feld
Co-Founder
David Brown
Co-Founder and co-
CEO
David Cohen
Founder and co-CEO
Jun 2018
None
1
2013 2014 2015 2016 2017 2018
1
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed1
1
-
-
-
US
Lebanon

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
80
Incubators
Other Notable Investors
Debt Investors

ARC Angel Fund NYC
81
Mobile App Studios > Investors > ARC Angel Fund NYC
People
Investments
[Minicorn] Cuebiq (2016, New York City, $36.3M, Series B)
Business intelligence company based on machine learning
[Minicorn] Sidecar (2007, Philadelphia, $16.3M, Series C)
Programmatic Marketing for eCommerce
[Minicorn] BeneStream (2011, New York City, $9M, Series A)
Medicaid migration platform
[Editor's Pick] Bow & Drape (2012, Boston, $4.1M, Series A)
Internet-first brand of custom clothing
Top Exits
David
Freschman
Founder
Aug 2015
AOL Acquires Photo And Messaging Startup Kanvas Labs,
TechCrunch
None
1
2013 2014 2015 2016 2017 2018
-
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
US

Axel Springer SE
82
Mobile App Studios > Investors > Axel Springer SE
Investments
Top Exits Recent News on Fund & Portfolio
Oct 2016
Google Play Music teams up with Runtastic to offer new
workout playlists, free trials, TechCrunch
Jul 2016
Austria: The up-and-coming early-stage investment
capital of Europe, TechCrunch
May 2016
Adidas is insisting Thais show up in full Adidas gear to
buy its new NMD sneakers, Mashable
Runtastic
(2009, Pasching, $188k)
Acq by adidas Group - Aug 2015
1
2013 2014 2015 2016 2017 2018
-
-
-
1
-
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
Europe

Finep
83
Mobile App Studios > Investors > Finep

Contents
Feed Summary
Investment Trend
Key Markets
Exit Outlook
Investors
News
Appendix
84
Recent News

Recent News (1/2)
86
Mobile App Studios > News > Recent News
Jun 2018 Vivo launches fibre broadband and TV in Divinopolis, Telecompaper
Jun 2018
MySQUAR says Singapore money transfer tests go well, Proactive
Investors
Jun 2018 Cheetah Mobile Announces Management Change, PR Newswire
Jun 2018
Cheetah's New App Lets Crypto Investors Track Portfolios on the
Go, CoinDesk
Jun 2018
MySQUAR raises £2mln to fund acquisition of mobile payments
systems group MyPay Myanmar, Proactive Investors
Jun 2018
Vivo and Claro win government contract for telephony services,
Telecompaper
Jun 2018
APUS bets big on India’s burgeoning gaming industry with its LIVE
quiz mobile game “Go Millionaire”, Core Sector Communique
Jun 2018
Vivo Taps Netcracker’s BSS to Drive B2B Transformation,
TELECOMDRIVE
Jun 2018
China’s Vivo unveils US$800 notch-free phone with a pop-up
camera solution, South China Morning Post
Jun 2018
Amino raises $45M to bring fan communities to smartphones,
TechCrunch
Jun 2018
Nyansa Introduces Voyance WAN and Voyance Client Agent,
APMdigest
Jun 2018
MySQUAR Nets GBP250,000 After Bond Conversion Notice
(ALLISS), London South East
Jun 2018
MySQUAR Gets Notice To Convert GBP350,000 Of Convertible
Bonds (ALLISS), London South East
Jun 2018
TouchPal Is Unveiling The 1st AR Emoji Feature In A Keyboard App,
ValueWalk
May 2018
Carrot, a weather app with personality, is coming to Android, The
Verge
May 2018
Latin America’s Movile is quietly building a mobile empire, Tech
News Universe
May 2018 Email client Spark becomes collaborative, TechCrunch
Apr 2018
XTD’s technology subsidiary teams with IBM for smart cities digital
solutions, Tech Capital
Mar 2018
Tokyo-Based Dream Incubator Leads Funding Round In E-Pharma
Myra, Franchise India
Jan 2018
Cheetah Mobile Off To Fast Start After Adding 58.com Founder To
Board, Investor's Business Daily
Jan 2018
Northsight Capital Closes Acquisition of Crush Mobile App,
GlobeNewswire
Jan 2018 Vivo partners with Twitter, Telecompaper
Jan 2018
World’s first in-display fingerprint scanning smartphone by Vivo
revealed at CES 2018, TechGenYZ
Jan 2018
MySQUAR Responds To Reports Of Discussions With China's
Tencent, Morningstar
Jan 2018
Movile Invests Us$9m In Colombian Grocery Startup Mercadoni,
LAVCA

Recent News (2/2)
87
Mobile App Studios > News > Recent News
Dec 2017
Cheetah Mobile Announces Changes to the Board of Directors, PR
Newswire
Dec 2017
CMCM ALERT: Rosen Law Firm Reminds Cheetah Mobile Inc.
Investors of Important Deadline in First Filed Class Action – CMCM,
GlobeNewswire
Dec 2017 Ustwo names new global CEO, GamesIndustry
Dec 2017
The London gaming studio behind 'Monument Valley' has hired a
global CEO, Business Insider
Dec 2017
Carsten Wierwille Named CEO of ustwo Studios, the World's
Leading Independent Digital Product and Service Studio, PR
Newswire
Dec 2017
Cheetah Mobile Collaborates with Microsoft on AI Services, PR
Newswire
Dec 2017
MySQUAR finalises deal to distribute games in 30 markets, Digital
Look
Dec 2017
Cheetah Mobile launches new short video app in India, CyberMedia
India Online
Dec 2017
Naspers, Innova Capital invest $82 million more for Movile's iFood
delivery business, TechCrunch
Dec 2017
Rosen Law Firm Announces Filing of Securities Class Action Lawsuit
Against Cheetah Mobile Inc., 4-Traders
Dec 2017
mediasmart Extends Multi-Format Inventory through Cheetah
Mobile Deal, Ad Tech Daily
Nov 2017 MySQUAR sees revenues jump in busy year Share , Proactive Investors
Nov 2017 Cheetah Mobile Launches PhotoGrid Lite in India, PR Newswire
Nov 2017
Gul Panag-cofounded health and fitness startup MobieFit raises
$1.35 M, FundingSMEs
Nov 2017 MySQUAR reaches 20 million user milestone, Digital Look
Nov 2017
Cheetah Mobile Announces Third Quarter 2017 Unaudited
Consolidated Financial Results, PR Newswire
Nov 2017
Kids coding education platform Codemao secures USD 18M to
create programming language, & more, AllTechAsia
Nov 2017 MySQUAR launches sequel to popular fishing game, Digital Look
Nov 2017
Gainey McKenna & Egleston Announces A Class Action Lawsuit Has
Been Filed Against Cheetah Mobile Inc. (CMCM) , GlobeNewswire
Nov 2017 Vivo inaugurates store in Rio's Barra Shopping Mall, Telecompaper
Nov 2017
Cheetah Mobile Inc says Live.me Inc entered definitive agreement to
raise $50 mln from Bytedance Ltd, Reuters
Nov 2017 Vivo surpasses 2,000 cities with 4G coverage, Telecompaper
Oct 2017
Cheetah Mobile's Security Master Receives Perfect Score in Latest
AV-TEST Evaluation, PR Newswire
Oct 2017
Security Master Wins Red Dot Design Award for Outstanding
Interface and User Experience, PR Newswire
Oct 2017 Cheetah Mobile rolls out Artificial Intelligence in its apps, bgr.in
Oct 2017
Edison Software Acquires Return Path’s Consumer Insights
Business, Business Wire

Contents
Feed Summary
Investment Trend
Key Markets
Exit Outlook
Investors
News
Appendix
88
Explore more on Tracxn Platform
Index of Top companies by Market
Funded Deadpooled Companies

Explore more on Tracxn Platform
90
Companies
Companies Covered
Unicorns
Public Companies
Acquired Companies
Funded Companies
Investment Trends
Recent Investments
Mega Investments
Investment Trend
Markets
BlueBox
Taxonomy
News
Key News
Recent News
Company Stage
Angel Funded
Seed Funded
Early Stage (Series A/B)
Late Stage (Series C+)
Acqui-hires
DeadPooled
Investors Acquirers
Unicorn Investors
Most Active Investors
Most Active VC &PE Investors
Portfolio of Top Investor
Most Active Acquirer
Mobile App Studios > Appendix > Explore Sector on Tracxn Platform

Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in Mobile App Studios
Index of Top companies by Market (1/5)
91
Mobile App Studios > Appendix > Index of Top companies by Market
Horizontal
Horizontal
MySQUAR (2013, Yangon, $3.2M)
Social chat app
IPO Date Jul 2015 Mcap -
IPO Mcap $29M
LON MYSQ P/E -
Stage: Acquired
Summit Partners
Utilities
System Managers
Develops apps related to network connection and
wireless signal coverage
Minicorn. Stage: Series B
Octopus Ventures, Qualcomm Ventures, O'Reilly
AlphaTech Ventures and 1 Other Investors
Personal Productivity
Jorte (2000, Tokyo)
Cross-platform calendar, organizer and notes app
Editor's Pick. Stage: Seed
KDDI, JAFCO

92
Photo & Video
Photo & Video
GhostBird Software (2008, Toronto)
Mobile app studio focused on photography apps
JP Brothers (2012, Seoul)
Developer of mobile camera apps
Editor's Pick. Stage: Unfunded
Editing
Lolo (2017, Singapore)
Mobile app studio focused on photography apps
Lyrebird Studio (2011, Istanbul)
Mobile app studio focused on photo editing apps
Health & Fitness
Health & Fitness
Mobiefit (2014, Panaji, $3.1M)
Fitness related mobile apps developer
Editor's Pick. Stage: Seed
Nava Bharat, Medi Assist India
Axel Springer SE, I5invest Beratungs
Ipnos (2009, Montreal)
Mobile app studio developing health & wellness
apps
Urbanoid (2010, Prague)
Mobile app studio developing apps to assist users
with sleep

93
Music
Mibblio (2012, New York City)
Mobile app studio developing music & video editing
apps
Education
Edutainment
App Family (2011, Hoganas)
Educational games developer for kids
IdeonTeam (2011, Bucharest)
Developer of educational apps
Vyaap Technologies (2013, Ahmedabad)
Mobile app studio developing edutainment apps
Translation
Holfeld (2009, Dresden)
Developer of Language Apps for Travelers

94
Social Platforms
Social Platforms
Crush Mobile (2014, New York City)
App studio focused on dating apps
Local community
Minicorn. Stage: Series C
GV, Venrock, Union Square Ventures and 12 Other
Investors
Events
Seed Labs (2009, Austin)
Mobile app developer focused on events

95
Content
Content
Apps Foundry (2010, Jakarta, $3.5M)
Develops application for consumers and
enterprises
Minicorn. Stage: Series B
Kompas Gramedia, Gobi Partners, Mitsui Global and
1 Other Investors
Safety
Safety
Call Ambulance (2012, Hyderabad)
Emergency response solution provider
Editor's Pick. Stage: Funded
JioGenNext

Funded Deadpooled Companies
96
Excludes all details for Chinese companies
Mobile App Studios > Appendix > Funded Deadpooled Companies
View all 103 Deadpooled companies on Tracxn Platform
Funding Company Location
$8M Frengo San Mateo
$1.1M Byook Valenciennes
$1M DEXETRA Bangalore
$500k Offline Brooklyn
$50k GreenGar Los Angeles
$42.5k Corso12 Roncade
$15k Saltlick Labs Austin
Elepath San Francisco
Voice on the Go Markham
Ensight Media Gangnam
Index of Deadpooled companies in Mobile App Studios

Ajith Menon
Senior Research Manager
Francis Xavier
Lead Analyst
Team
97
For research queries write to us at myanalyst@tracxn.com
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Mobile App Studios - Jun 2018

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