You know mobile app development is a big thing when the venture capitalists fund some of the app developers. SourceBits, a mobile app developer, based out of the US and Bangalore, India has raised $10 million from Sequoia Capital and IDG Ventures today. When the VC’s are in then you start believing reports that say app market will be $4 bn by 2011, because VC’s are in it to make money.
SourceBits which celebrated its 5th anniversary last month has developed some best selling apps for iPhone and Android. Night Stand an app which coverts your iPhone in to a alarm clock has reached number two spot in the app store and was downloaded 3 million times. SkyFire, RoboKill, Live Prayer and Beast Farmer are some of its iPhone apps. Most of the iPhone apps were developed for Android too but the Android app stock looks thinner. SourceBits develops apps for Mac, iPad, Blackberry and Palm Pre.
The achingly beautiful designs from SourceBits is evident in its website design which is one of the cleanest and most elegant website design I have seen in a long time. I assume the apps would be of similar quality.
But is the app development that big and how sustainable is it?