Andrey Korkunov, the founder of a leading candy company, has invested $1 million in Apps4all in exchange for a 15% stake, the Russian business daily Vedmosti reported yesterday.
Launched in 2011, Apps4all brings together a community of mobile app developers with a variety of media, event, training, research, and advertising activities. The startup – which claims to have attracted more than half of all active app developers in Russia and the CIS – helps large IT companies such as Google, Intel, Microsoft, Qualcomm, and device manufacturers interact with this community.
The company has reached breakeven this year, while its turnover could reach approximately $1 million, CEO Alexander Vasiliev told Vedomosti.
This is the first high tech investment for Korkunov, who also owns a bank based in Tatarstan. “I am expecting profound changes in the banking business thanks to the use of mobile applications, which bring users closer to banks,” the businessman told Vedomosti.
Last November Apps4all secured $500,000 from Softline Venture Partners, the venture arm of software licensing company Softline. The startup might attract additional investment later this year, Korkunov said.
