Appconomy
Appconomy operates a global platform that increases app revenue for brands, retailers, service providers and mobile carriers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | $1.1m | Debt | |
| Total Funding | 000k | ||
Appconomy, Inc. operated as a mobile commerce platform provider with headquarters in Shanghai, China, targeting the retail sector. The company was established in 2010 by Steve Guengerich, a serial entrepreneur with a substantial history in information technology and venture development. Guengerich's career began in management consulting before he became a founding shareholder of BSG Corporation, a firm acquired for $330 million in 1996. He launched Appconomy while serving as a principal at the venture development firm Powershift Group, leveraging his extensive experience in launching and mentoring new ventures.
The firm's core business centered on providing context-aware mobile solutions for retail stores and brands. Appconomy developed a platform that enabled businesses and developers to create feature-rich mobile applications, integrating functionalities such as mobile payments, digital coupons, and customer loyalty programs. For its retail clients, the company offered specialized services including indoor positioning technology, targeted promotions, and mobile marketing campaigns designed to enhance the in-store customer experience and drive sales. The business model focused on equipping other businesses with the tools to build out their mobile commerce capabilities, positioning Appconomy as a key enabler in the app ecosystem.
Throughout its operation, Appconomy secured significant financial backing, raising a total of $36.6 million over eight funding rounds from institutional investors including True Ventures, Western Technology Investment, and Neusoft. The initial funding round occurred in late 2010. Despite these milestones and substantial capital investment, the company ceased operations and is now considered deadpooled, with its status marked as 'Out of Business' in November 2017.
Keywords: mobile commerce platform, retail technology, context-aware mobile apps, Steve Guengerich, Shanghai startup, mobile payments, customer loyalty programs, in-store promotions, retail app developer, venture capital-backed, Powershift Group, True Ventures, m-commerce solutions, indoor positioning, mobile marketing, digital coupons, deadpooled company, defunct tech startup