Company Description
Mobile applications can serve as an important communication channel for businesses in a variety of industries. According to Velvetech, developing a “decent” mobile app can cost between $10,000 and $500,000.i Additionally, it is estimated that an average mobile app can take four to six months to develop.ii Mobile apps have become an integral part of how users receive information and spend their leisure time, so it's no surprise that their development has become increasingly democratized. No-code and low-code tools have played an important role in recent years in making this technology more accessible to people who do not have specialized training, particularly enabling the ability to create customized tech tools.iii According to Gartner, Inc., the global market for low-code development technologies is expected to reach $26.9 billion in 2023, a 19.6% increase from 2022.iv No-code/low-code development tools are appealing because of their simplicity and ability to allow non-developers to quickly create apps or workflows. The lack of code can be advantageous to programmers and businesses that already have programming and development teams but would like to replace them due to cost concerns.vApphive enables entrepreneurs to create their own mobile applications from a digital platform that uses drag-and-drop elements and a pre-designed template, removing the need for computer programming knowledge.vi After gaining experience in designing and operating corporate websites, Apphive’s founder, Jonatan Vazquez Piña, discovered a need for simplified mobile app builder tools in response to client demands for app designs due to the high costs and time requirements of internal development. Apphive aims to make the mobile application design process simple: users answer a series of questions about the app's purpose, choose or create the desired interface template design, and select the desired functionalities from a comprehensive list of options. Throughout this process, users can test the app's functionality in real-time on their mobile devices.vii Apphive operates as a Software as a Service (SaaS) platform and offers subscriptions that allow users to publish the apps they create, in addition to the sale of pre-built templates.viiiWhile Apphive has a user base in various countries, including the United States, the company is primarily focused on the growing Latin American marketix and currently has users in Colombia, El Salvador, Venezuela, and Mexico. Apphive has been used to create more than 5,700 active apps and has over 500 paid subscriptions as of March 2023. Apphive's platform is available via the web and for various mobile operating systems, including iOS and Android, the two most widely used today.x
Key Deal Facts
Apphive reports that 5,700+ mobile applications have been developed using its platform, Traction includes over 500 paid subscriptions as of March 2023, User base reportedly includes multiple countries with a notable presence in Latin America, Apphive's revenue in 2022 reached $328,042, up from $289,678 in 2021
