Video: How to Build a Billion Dollar App
There have only been 10 startups that have exited for over a billion dollars in the last 5 years, but at Mind the Product 2013, George Berkowski showed that there’s still huge opportunity out there. There are still 6 feature phones for every smart phone in the market and as prices come down that means a lot more people using smartphones and using apps. They will also be the first experience with the Internet for many in countries with little fixed broadband.
With 100 million apps and growing, there’s also a lot of noise in the market – which is why it’s important to be ambitious and have a billion dollar ambition from day one. George showcases 8 apps with billion dollar valuations, including Uber, Snapchat, Square, Angry Birds/Rovio, Flipboard and Hailo and highlights what made them so successful.
George is the former Head of Product at hit startup Hailo, one of London’s fastest growing startups, and was one of its first employees. Now he’s looking at bringing the chartered private jet business online through FlyVictor. He is also the Chairman of the MIT Enterprise Forum UK. He co-founded and ran product at WooMe, which grew to 10 million users before being acquired by Zoosk, served as the Head of Internet Strategy and eCommerce at BT, and as the VP of Marketing for MirCorp – who made Dennis Tito the first space tourist by arranging his trip to the ISS.