Premier finance news app Born2Invest is growing faster than expected
Born2Invest, the only multilingual news app for finance and business, posted uninterrupted growth despite being live for less than a year since July 2015.
“Our mobile app’s views and the number of users are continuously increasing at a rate faster than what we’ve anticipated,” Einhorn said.
The English edition of the app on Android is enjoying sizeable downloads and usage in English-speaking countries such as the United States and the UK, which are among its current biggest markets.
The Philippines, which is known for its laudable English proficiency, remains a top source of new users. Russia remains the app’s largest market. A huge number of users and new downloads from Brazil, Russia, Mexico, Venezuela, and Thailand have also been recorded at the outset of 2016.
He said the app is also gaining massive attention from countries where they least expected such as Egypt, Iraq, and other countries in Central Europe with severe freedom of information laws covering Internet usage and media consumption.
For Android, the app has gained 5,561 new users from March 22 to April 2, 2016, period. On March 24 alone, it has obtained 602 new downloads. Top new users for Android came from Russia with 2,348 (42.22 percent), followed by Ukraine with 728 (13.09 percent), Kazakhstan with 423 (7.61 percent), Belarus with 367 (6.60 percent), United States with 300 (5.39 percent), the Philippines with 151 (2.72 percent), India with 191 (3.43 percent), Indonesia with 50 (0.90%), Thailand with 51 (0.92%) and Germany with 41 (0.74%).
New readers for iOS is led by Vietnam with 44 users (21.26 percent), Thailand: 22 (10.63 percent), Iraq: 21 (10.14 percent), United States with 19 (9.18 percent), India and Macedonia with 7 (3.38 percent), Saudi Arabia with 7 (3.38 percent), Pakistan with 6 (2.90 percent), United Kingdom with 5 (2.42 percent), and Laos with 5 (2.42 percent).
Einhorn noted, “If you look at the Analytics you would see how the app is becoming ‘truly’ global as we aspired for it to be. But what surprises us is the growth rate—it’s just fast.”
The local language editions of the app are expected to increase the app’s popularity in non-English speakers in South America, Southeast Asia, Central Europe, and Africa. The app has been recently made available in Turkish, Tieng Vet, Hrvatski, and Polski.
The road to becoming a ‘truly’ global app
After its successful iOS launch and push notifications rollout in January, the app is anticipated to incorporate its “Video Story” to its 80-word summaries along with new language iterations. All these efforts are part of the company’s goal of making the app a truly global app for business and finance.
“To be precise, the app will be present in 190 countries with 54 languages to be rolled out within the next 6 months starting [this] January. We are confident about attracting new investors along the road as we are currently the biggest and most aggressive content curator app on the market. No other app or tech company boasts of such capacity or infrastructure we have now,” explained Einhorn.
The continuous growth in the app’s user numbers has also augmented the company’s revenue. It has improved to $400,000 in January 2016 from a seed financing of $500,000 in August 2015. Einhorn revealed that the company would be raising an additional $10 million-worth of operations capital to boost the company’s marketing and expansion.
The company is targeting to launch Born2Invest globally in 2017 with a projected revenue increase of $29 million. A revenue of this magnitude will make the app available for joint ventures and other growth-focused partnerships.