By a News Reporter-Staff News Editor at Investment Weekly News -- Tapinator, Inc. (OTC: TAPM) is pleased to announce a new focus on the mobile gaming industry, led by a seasoned management team with deep experience in the mobile gaming and social media space. The Company operates its own mobile games, publishes mobile gaming titles where it holds substantial ownership positions, and makes strategic investments into promising mobile companies
The mobile games and application space is a massive and quickly growing industry. In 2013, Apple paid out $10 billion to mobile developers and is on pace to far exceed this in 2014. Although Google does not disclose its developer payouts, it is catching up to Apple in terms of monetization and represents a multi-billion dollar market. Individual developers are building highly scalable businesses on mobile. Game developer Supercell announced that it generated $892 million in 2013 off just two games across Android and iOS. Another game developer, King Digital Entertainment, PLC (NYSE), generated sales of $1.88 billion in 2013, primarily off just one mobile/social game, Candy Crush.
Tapinator's executives and board members represent a diverse group of seasoned executives, whose backgrounds range from software engineering with an emphasis on mobile platforms, to investment banking and private equity management. The Company's Chief Executive Officer, Ilya Nikolayev, and its President/Chief Technology Officer Khurram Samad, have been part of the mobile gaming and social application industry since 2007.
The team created one of the first successful Facebook applications, Family Tree, and grew the property to over 6 million monthly active unique users. The team raised venture capital funding, achieved profitability, and successfully sold Family Tree in 2011 generating a significant return for all of its investors. Collectively, this management team's products have generated upwards of 60 million users across the Facebook platform, Apple's iOS, Google's Play, and Amazon's Appstore. Mr. Nikolayev and Mr. Samad formed Tapinator LLC in 2013 to focus on the sizeable opportunity that the mobile gaming market represents. As the developer and publisher of over 40 mobile gaming titles that, collectively, have over 20 million users, Tapinator has quickly become a leader in the mobile gaming industry. These titles focus on a number of different genres, including driving, parking, puzzle, shooting, tossing, and word games. A number of Tapinator's games have achieved over one million installs, including Trucker Parking, Drive with Zombies, Monster Truck Driving, Transporter Plane, and others.
Mr. Bob Crates will serve as the Company's initial non-executive director. Mr. Crates has over 25 years of experience as a private equity investment manager in a broad range of investments, including leveraged buyouts, venture capital, real estate, oil & gas and distressed securities. He has served as an officer and on the boards of directors of over 20 private and publicly reporting companies, including acting as Chairman of the Boards of Directors. He has provided investment banking services related to mergers & acquisitions, capital raising, bankruptcies, fairness opinions, and corporate valuation reports. He has acted as an operating officer for venture capital funded companies and for turnaround management conducted on behalf of European and domestic financial institutions. His employment affiliations include The United States Trust Company of New York and Luther King Capital Management. Most recently, Mr Crates formed RBC Capital to participate in various early stage development opportunities. Mr. Crates is a graduate of Yale University.
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