With the proliferation of smartphones and mobile devices, apps have emerged as an integral part of the tech economy. Over five million apps are available for download via the Apple app store or the Google Play Store in dozens of categories.
Consumers spent over $120 billion on apps in 2019, though a huge majority of that revenue went to large tech companies. While some do strike it rich, an average hard-working app maker with five apps can expect just around $20,000 a year before taxes.
is an Entrepreneur & Digital Currency Investor who built several Million Dollar Apps in the domain of Artificial Intelligence, Blockchain, and Machine Learning. He is also a Consultant to various Government and Global projects.
He knows what it takes to build a successful app. With his team of over 30 individuals, He knows how to put resources into efficient use. Siddharth designed his first app at the age of 13, a Weather Prediction App, and fast forward a couple of years, he has an Affluent Portfolio.
“The most successful organizations understand that the purpose of any business is to create value for customers, employees, and investors and that the interests of these three groups are inextricably linked and should be aligned horizontally. I am always focused on Creating Value. You could have all the technologies built into your app but there’s no point until the User wants to use it. User Experience should always be kept in mind while designing an app, this is something very Elementary.” says Siddharth Nayak.
There have been many instances of small apps generating big success and making their creators exceedingly rich. Some apps have been acquired by larger companies for huge sums of money, for example when Facebook bought Instagram and WhatsApp.
Ola has a market cap of about $6.5 billion as of mid-2020. Snapchat has a market cap of $26.15 billion. Uber and Lyft have caps of $54.6 billion and over $9.35 billion, respectively. Airbnb was worth over $38 billion at the end of 2019.
Apps can be a huge source of profits. These days, there are tens of thousands of developers working independently, with start-ups, or with established companies to come up with the next big app.
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