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Why Getjar's Business Model is so successful?

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Getjar’s Company Overview


GetJar, founded in 2004, is a mobile app discovery platform that revolutionizes the way users access and download mobile applications. Positioned as one of the earliest app marketplaces, GetJar offers a vast array of applications across different categories, catering to a diverse user base. The platform supports various mobile operating systems, providing a one-stop-shop for users seeking a wide range of apps. The company is best known for its now-defunct GetJar Gold virtual currency and its GetJar Rewards network. GetJar's primary focus is on offering consumers a wide range of free apps to choose from. The company boasts of having over 849,036 mobile applications for Android, BlackBerry, Windows Mobile, and other platforms. To date, GetJar has achieved over 2.2 billion downloads. GetJar was the first app store to cross the one billion downloads mark. The company has also worked with major brands and advertisers to offer exclusive free apps to consumers, such as Gameloft's Let's Golf 2 and Glu Mobile's Call of Duty: Modern Warfare 2. GetJar's business model revolves around being a mobile app distribution platform. It acts as an intermediary between app developers and users, providing a centralized marketplace for discovering and downloading mobile applications. The platform employs a freemium model, allowing users to access a multitude of free apps while also offering premium or paid applications. GetJar focuses on creating a dynamic ecosystem where app developers can showcase their products, and users can explore, download, and share applications seamlessly. Advertising and partnerships with app developers primarily drive GetJar's revenue model. The platform leverages in-app advertising, featured placements, and promotional opportunities for app developers to showcase their products prominently. Through strategic collaborations with developers and advertisers, GetJar monetizes its platform. The freemium model ensures a balance between offering free content to users and generating revenue through premium app offerings and advertising opportunities. This dual approach sustains GetJar's position as a prominent player in the mobile app distribution landscape.

https://www.getjar.com/

Country: California

Foundations date: 2004

Type: private

Sector: Technology

Categories: Software


Getjar’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: fun/entertainment, rewards me, badge value

Functional: saves time, simplifies, makes money, reduces risk, organizes, integrates, connects, reduces effort, avoids hassles, reduces cost, quality, variety, sensory appeal, informs


Getjar’s Related Competitors



Getjar’s Business Operations


Advertising:

This approach generated money by sending promotional marketing messages from other businesses to customers. When you establish a for-profit company, one of the most critical aspects of your strategy is determining how to generate income. Many companies sell either products or services or a mix of the two. However, advertisers are frequently the source of the majority of all of the revenue for online businesses and media organizations. This is referred to as an ad-based income model.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Customer data:

It primarily offers free services to users, stores their personal information, and acts as a platform for users to interact with one another. Additional value is generated by gathering and processing consumer data in advantageous ways for internal use or transfer to interested third parties. Revenue is produced by either directly selling the data to outsiders or by leveraging it for internal reasons, such as increasing the efficacy of advertising. Thus, innovative, sustainable Big Data business models are as prevalent and desired as they are elusive (i.e., data is the new oil).

Freemium:

Freemium is the sum of the words free and premium and refers to a business strategy that provides both free and premium services. The freemium business model works by providing essential services for free and charging for enhanced or extra capabilities. This is a typical practice among many software firms, who offer imperative software for free with restricted functionality, and it is also a popular approach among game developers. While everyone is invited to play the game for free, extra lives and unique game features are accessible only once the player buys.

Ecosystem:

A business ecosystem is a collection of related entities ? suppliers, distributors, customers, rivals, and government agencies ? collaborating and providing a particular product or service. The concept is that each entity in the ecosystem influences and is impacted by the others, resulting in an ever-changing connection. Therefore, each entity must be adaptive and flexible to live, much like a biological ecosystem. These connections are often backed by a shared technical platform and are based on the flow of information, resources, and artifacts in the software ecosystem.

Platform as a Service (PaaS):

Platform as a Service (PaaS) is a class of cloud computing services that enable users to create, operate, and manage apps without the burden of establishing and maintaining the infrastructure usually involved with designing and developing an app.

Software as a Service (SaaS):

Software as a Service (SaaS) is a paradigm for licensing and delivering subscription-based and centrally hosted software. Occasionally, the term on-demand software is used. SaaS is usually accessible through a web browser via a thin client. SaaS has established itself as the de facto delivery mechanism for a large number of commercial apps. SaaS has been integrated into virtually every major enterprise Software company's strategy.

Two-sided market:

Two-sided marketplaces, also called two-sided networks, are commercial platforms featuring two different user groups that mutually profit from the web. A multi-sided platform is an organization that generates value mainly via the facilitation of direct contacts between two (or more) distinct kinds of connected consumers (MSP). A two-sided market enables interactions between many interdependent consumer groups. The platform's value grows as more groups or individual members of each group use it. For example, eBay is a marketplace that links buyers and sellers. Google connects advertising and searchers. Social media platforms such as Twitter and Facebook are also bidirectional, linking consumers and marketers.

Open innovation:

A business concept established by Henry Chesbrough that inspires firms to pursue out external sources of innovation in order to enhance product lines and reduce the time needed to bring the product to the market, as well as to industry or release developed in-house innovation that does not fit the customer's experience but could be used effectively elsewhere.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

Open-source:

Compared to more centralized development methods, such as those usually employed by commercial software firms, the open-source model is more decentralized. Scientists see the open-source approach as an example of collaborative openness. Peer production is a fundamental concept of open-source software development, with deliverables such as source code, blueprints, and documentation made freely accessible to the public. The open-source software movement started as a reaction to the constraints imposed by proprietary programming. Since then, its ideas have extended to other areas, resulting in what is known as open cooperation. Typically, money is generated via services that complement the product, such as advising and maintenance.

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