Contrary to what the majority of people think, Apple did not release the first smartphone in 2007 when it released the original iPhone. In 1992, IBM introduced the first gadget that satisfies the contemporary definition of a smartphone. It carried the moniker Simon Personal Communicator and represented a significant development in the 1983-invented field of consumer electronics known as mobile phones. Around the world, there are already more than 5.3 billion distinct mobile phone users, and this number is increasing at a rate of 1.8% each year. Additionally, specialized mobile software, sometimes known as apps, has evolved into the mainstay of smartphone usage and a crucial aspect of contemporary life.
Many claim that the first mobile app was the game Snake, which was included in the 1997 Nokia 6110 phone. Twenty-five years later, the number of apps on Google Play is about 2.9 million, while the number of apps on the Apple App Store is 1.96 million. A whopping 49% of smartphone users open their favorite app at least eleven times every day, and mobile apps account for 70% of all US digital media consumption. Therefore, to suggest that this software does not play a significant role in the lives of the majority of people is an understatement.
As a result, app development has grown into a significant industry, prompting millions of non-technical people to search for good app ideas. According to predictions, the mobile app market will grow four times by 2026 from its current $106 billion worth, making iOS and Android app development a significant industry. So it is a great time to examine ten individuals who amassed enormous wealth through the creation of mobile phone software. Below, we list their names.
Publicity 1. CHANGPENG ZHAO When a ground-breaking Web hub appeared in 2010 and made it possible for users to purchase Bitcoins, it democratized the concept of cryptocurrency exchanges. There are currently about 318 of these platforms operating online, but Binance is without a doubt the most well-known because it has the highest daily trade volume. Changpeng Zhao and Yi He, two Chinese computer programmers, established it in 2017. As of May 2022, Bloomberg ranked Zhao as the 13th richest person in the world. Zhao has an estimated net worth of close to $15 billion, according to a prediction from this prestigious journal. The growth of various industries, including mobile gaming , retail, and hospitality, was considerably aided by cryptocurrency exchanges like Binance.
Many retail point-of-sale and online businesses use the e-commerce platform Shopify. Tobias Ltke and Scott Lake are the creators, and they tried to create an internet store to sell snowboarding gear before coming up with the idea. Ltke, a computer programmer by profession, made the decision to create his own software to manage the internet transactions for his firm rather than buying one that was already built. As a result of his actions, Shopify introduced an app store and an API platform in 2009, enabling developers to produce apps for Shopify’s online stores. This German-Canadian businessman has a current net worth of $3.7 billion, and he continues to serve as Shopify’s acting CEO.
Publicity 3. TRAVIS KALANICK The idea behind the global ride-share phenomenon known as Uber was developed by Canadian entrepreneur Garret Camp. Nevertheless, Travis Kalanick is mostly linked to it because he co-founded the Uber company and served as its CEO from 2010 to 2017. In 2019, Kalanick made a $2.5 billion profit on his initial investment in the software by selling off precisely 90% of his Uber shares. Prior to being well-known for creating the first ride-sharing apps, he was largely well-known as the founder of the peer-to-peer file-sharing startup Red Swoosh.
Fourth, Kevin Strom The largest photo-sharing website in the world is called Instagram. A computer programmer from Stanford University by the name of Kevin Systrom, he co-founded it with another Stanford alumnus named Mike Krieger. With only thirteen people, Mark Zuckerberg’s Facebook, now known as Meta, paid $1 billion to acquire Instagram in 2012. The platform now contributes over $20 billion annually to Meta’s annual revenue. Systrom’s net worth is estimated by a recent Forbes article to be around $2.4 billion.
WHITNEY WOLFE HERD 5.
Advertisement In 1994, Kiss.com, the first dating website, appeared online. A year later, Match.com came out, and in 2000, eHarmony made its appearance on the dating online market. Launched in December 2014, Bumble is a well-known online dating app that is sometimes referred to as a feminist dating site. Whitney Wolfe Herd, who founded the company when it was just twenty-five years old, is now recognized as the youngest individual in history to take a company public at the age of thirty-one.
Chicago-based Grubhub is a platform for ordering and delivering food. Despite being founded in 2004 by Mike Evans and Matt Maloney, the business did not become well-known until it began to generate annual revenues of over $100 million in the early 2010s. With a net worth of $150 million, Maloney resigned from the board of directors of Just Eat Takeaway in October 2021. This Amsterdam-based company had acquired Grubhub in June 2021.
Message #7: NICK DALOISIO The smartphone app Summly was created by British internet entrepreneur and mobile developer Nick DAloisio. Yahoo purchased Summly for $30 million. He launched the software business Sphere more recently, which Twitter purchased in late 2021 for an undisclosed sum. A well-known iOS app by the name of Trimit that condensed text is also part of the Dalosios software development portfolio.
CHAD MURETA 8. Blockchain gaming investor, app tycoon, and best-selling author Chad Mureta. Mureta began his professional career in the real estate sector and has since had a varied background. He gradually changed his focus to the app industry and over the past ten years has built and sold eight firms. Mureta also oversaw the development and commercialization of over 115 apps, including the original iPhone Emoji app.
9. BRIAN WONG Images 5 and 6
Advertisement A well-known mobile advertising network in the Android gaming space is Kipp. It is a platform for rewards where players may earn real-world benefits for in-game achievements. Its creator, Brian Wong, was one of the youngest CEOs to get venture capital funding in 2010 at the age of twenty. He was included in Forbes’ 30 Under 30 Social/Mobile rankings a year later, in 2011.
10. ROBERT I DON’T Which Young Entrepreneurs Have Made the Most Money from Their App Idea? lists frequently include Robert Nay as a name. Robert created Bubble Ball, a mobile physics puzzle game, while he was only fifteen years old. The game received two million downloads in just two weeks (2010) on the Apple App Store. Through the magic of social networking, Bubble Ball received significant promotion from frequent users of social media sites. By enabling users to design new levels using a web interface, the Community Levels mode, which was implemented in 2012, increased the attractiveness of the app.