App Annie, one of Silicon Valley's most popular tools for measuring an app's success, crosses a $100 million milestone and unveils a product to launch another wave of growth
- On Tuesday, app data platform App Annie announced it crossed $100 million in annual recurring revenue.
- It also launched a new product called Mobile Web intelligence, which allows customers to see mobile web and app metrics side by side.
- App Annie plans to continue investing in research and development, and to aim for an M&A, an IPO or private equity in two to three years.
After some internal changes to the company culture, App Annie, a quickly-growing app platform that is often cited in Apple's announcements, just launched its first new product of the year, and it also announced it hit a $100 million milestone.
On Tuesday, App Annie announced that it crossed $100 million in annual recurring revenue and unveiled its new Mobile Web intelligence product.The financial milestone is "one of those inflection points that many companies don't have the opportunity to achieve," App Annie's Danielle Levitas, executive vice president of market insights, told Business Insider.
App Annie CEO Ted Krantz says App Annie was able to hit this milestone because it has little competition. There are few other companies that provide platforms to analyze mobile web data, he said.
App Annie says 40% of its annual recurring revenue comes from the Americas region, 40% from Asia and 20% from Europe. Krantz says the company especially sees traction in Japan.
"There is a global phenomenon there that serves to solve other industries with different insights we had before," Krantz said.
"A big differentiator"
App Annie says its new product will help companies see both mobile web and app metrics, such as the number of users using mobile web versus those on an app. In addition, it can provide insights on time spent on these apps, traffic, and more. These metrics can help with marketing, advertising strategies, commerce, customer service, and more.
"Think of us being like a credit score, and we can tell you how well you're doing head to head with your benchmark competitors," Krantz said.For example, a retailer can see how many users are engaging with its mobile app and find out the most common way they make purchases. It can see the advantages and disadvantages of people interacting with its mobile app versus its site.
What makes this product different from App Annie's previous offerings is that it can show mobile web and mobile app data side by side.
Krantz said that when he became CEO, one of the first things he worked on was making sure the company was cash flow positive. In the coming year, App Annie plans to continue to invest in research and development, and in the next two to three years, it wants to make a play at either M&A, an IPO or private equity.
"There's a huge opportunity to continue to go deeper as we compare and contrast the metrics with the same experience," Krantz said. "We feel like that will be a big differentiator. We believe that more focus on the total mobile performance makes more sense at this point in time."
Got a tip? Contact this reporter via email at firstname.lastname@example.org, Twitter DM at @rosaliechan17, or Signal, Viber or WhatsApp at +1 (224) 425-1882 . (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.