As an entrepreneur knowing if and when to pivot is extremely difficult but if it's done right it can put the company on a better, more likely path to success. That's exactly what happened with Apptopia.
Jonathan and his co-founder Eli started the company in 2011 as a marketplace for buying and selling mobile apps. Things were going well, they had raised money from investors and were growing but they felt there was a bigger opportunity to pivot into a mobile app intelligence company providing data and analytics at affordable prices.
Over the past couple years since doing the pivot and rebuilding their technology platform things have gone very well. The company raised another $2.7 million this year from investors like Mark Cuban and Ashton Kutcher (via Sound Ventures) and growth is headed in the right direction. Apptopia's service is being used by thousands of individuals, developers, marketing teams, investors and corporate executives. Currently the company offers a free trial of the service but they're in the process of switching to a "freemium" business model where everyone gets a free account to access some of the features then you can upgrade to a paid account to access all of the features.
In this interview I spoke with Jonathan about changing directions for the company a couple years ago and how the team arrived at that decision, how the Apptopia service is helping clients with their market intelligence needs, why some of the early investors kept participating in future funding rounds but others did not, how Apptopia is acquiring their biggest customers, why they are switching to a freemium model, how they are differentiating themselves from their biggest competitor, what valuable lessons he has learned over the past 5 years, what advice he would give to any aspiring entrepreneur and so much more.
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