21 Mobile App Development Business Success Stories [2024]
Mobile app development is the process of creating software applications that run on mobile devices. These apps can be used for a variety of purposes, including games, productivity, and social networking.
Starting a mobile app development business is a great way to enter the world of software development. This type of company is growing in popularity as businesses are looking for ways to reach their customers through mobile apps.
To start a mobile app development company, you need to have strong technical skills and be able to develop high-quality software. You should also have a good understanding of how to market and sell mobile apps
In this list, you'll find real-world mobile app development business success stories and very profitable examples of starting a mobile app development business that makes money.
1. Appetiser ($8.4M/year)
Jamie Shostak, the co-founder of Appetiser App Development, came up with the idea for the business when he met Michael MacRae, who had apps with millions of users but was looking for a new challenge. They both shared a passion for building and growing tech products, and saw a need for speed, data-driven insights, and top-level quality in the industry. After landing two great clients, they realized the importance of setting up predictable growth systems and started reaching out to prospective companies through outbound sales tactics. They are now on track to make over $8,000,000 annually with over 200 employees worldwide.
How much money it makes: $8.4M/year
How much did it cost to start: $0
How many people on the team: 175
Appetiser App Development grew from a startup with $0 to now making over $8,000,000 annually with over 200 employees across the globe, serving clients that have billions in valuations like Pointsbet and Good Empire, by helping startups succeed with their app development needs.
2. Balsamiq ($6.6M/year)
Balsamiq Wireframes, a low-fidelity wireframing tool, was founded by Giacomo "Peldi" Guilizzoni in 2008. The idea for the tool came from Peldi's experience working at Adobe, where he realized the need for a simple sketching tool that could be used by any contributor in product meetings. With a focus on constant learning and improvement, Balsamiq has grown into a team of 33 people with a monthly revenue of about $550,000.
How much money it makes: $6.6M/year
How many people on the team: 29
How Balsamiq became a $550k/month company through staying focused on simplicity and taking care of their team and community.
3. Wolfpack Digital ($3.6M/year)
Gina, the founder of Wolfpack Digital, came up with the idea for her app development agency after realizing the lack of soft skills and business strategy in the tech ecosystem in Romania. With a diverse background in engineering, psychology, and business, Gina was able to bring together her interests and tap into the impressive tech talent pool in her hometown of Cluj. Since launching in 2015, Wolfpack Digital has experienced impressive growth, reaching a yearly revenue of over $1.5 million.
How much money it makes: $3.6M/year
How many people on the team: 88
Wolfpack Digital, an award-winning app development agency from Romania, founded by Gina Lupu, with a team of 50 in-house employees, has exceeded the $1.5M yearly revenue threshold, with an impressive 15-20% profit margin, focusing on fintech, health tech, IoT, social, and transportation industries.
4. Appscrip ($3M/year)
Rahul Sharma started Appscrip after identifying the lack of a specialized technology provider for startups in the on-demand services, social eCommerce, Fintech, and messaging platforms. With a focus on delivering cost-effective solutions in a shorter timeframe, Appscrip has grown to become a globally-acclaimed company with over 350 apps delivered per year and an in-house team of 150+ developers. Their success is evident through their numerous awards, recognitions, and contracts with renowned companies.
How much money it makes: $3M/year
How much did it cost to start: $150K
How many people on the team: 185
Appscrip is a globally-acclaimed service-based app and web development company that has delivered over 350+ apps/year globally with an in-house team of 150+ developers, at an average of 45 days/app that otherwise would take almost 6-9 months to develop, generating an average monthly revenue of $2,50,000 and garnering recognition from Deloitte, Clutch, Good firms, while also encouraging women entrepreneurs.
5. RipenApps Technologies ($1.8M/year)
After working in the IT field for a decade, Ishan Gupta realized that digitalization was the future and wanted to contribute at a larger scale. He partnered with three friends who had expertise in business consulting, IT and sales, and programming to launch RipenApps in 2017. Since then, they have grown from a team of 4 to 169+ and have delivered 500+ successful projects, resulting in a USD 1.5M turnover.
How much money it makes: $1.8M/year
How much did it cost to start: $1.5M
How many people on the team: 169
RipenApps is a fast-growing mobile app development company with a 100% industry success rate, and in just four years, it experienced a high turnover rate of $1.5M and increased its team from four to 169+.
6. SteelKiwi ($1.8M/year)
Steelkiwi, a Ukrainian outsourcing company for web and mobile app development, was founded by Anton Baterikov and another individual in 2011. They noticed a gap in the market for offering businesses an alternative to PHP development and decided to provide high-quality products using Python. Today, Steelkiwi has expanded its expertise and works with businesses in various industries, with over 80 employees helping clients grow digitally.
How much money it makes: $1.8M/year
How much did it cost to start: $1K
How many people on the team: 80
How we started a 150k/month website and mobile development outsourcing company that has grown to 80+ employees and offers services in graphic design, QA, business analysis, project management, and marketing in addition to web and mobile app development.
7. Never Settle ($1.8M/year)
Kenn Kelly, co-founder of Never Settle, came up with the idea for the digital agency after experiencing the ups and downs of the tech startup world. He realized the importance of taking care of people and decided to create a company that values and empowers both clients and staff. With a focus on service and building long-lasting relationships, Never Settle has become a globally recognized leader in mobile, website, and marketing solutions, completing over 1,000 projects in seven years.
How much money it makes: $1.8M/year
How much did it cost to start: $5K
How many people on the team: 15
Never Settle, a digital agency with over 1,000 completed projects and a focus on lean methodology and building relationships with clients, has made a name for itself in the eCommerce space, offering comprehensive solutions to businesses of all sizes while maintaining consistent and moderate growth.
8. Materialize ($1.5M/year)
Alex Nordlinger, the founder of Materialize, came up with the idea for his business while working on side projects as a software engineer. Realizing he could take on more projects by hiring a team, he decided to start Materialize, a software development studio that provides web and mobile app development services. The business has grown to 18 employees, with a revenue of $125k per month.
How much money it makes: $1.5M/year
How much did it cost to start: $3K
How many people on the team: 8
How a self-taught engineer built a software development studio, Materialize, into a 18-person team with a revenue of $125k per month, by leveraging his technical expertise and establishing well-defined processes to build products efficiently and cost-effectively.
9. Imaginovation ($1.2M/year)
Imaginovation has grown an average of over 40% in revenue every year since its founding in 2011. They have won several credible tech awards and have been featured in top publications. The company has a strong local presence and a focus on building SEO-optimized websites to establish an online presence. The future looks bright for Imaginovation as they continue to attract and retain customers with their client-centered approach and innovative technology solutions.
How much money it makes: $1.2M/year
How many people on the team: 35
Imaginovation, a technology and app development company in Raleigh, NC, was recently named one of the Top Technology Companies in North Carolina by Clutch and has grown an average of over 40% in revenue every year since it was founded in 2011 by co-founders Michael Georgiou and Pete Peranzo.
10. Razrtech ($1M/year)
Anshul Gupta, the founder of Razrtech, identified the problem he wanted to solve while working on various managed services and digital products. Through his extensive experience in building consumer web and mobile applications, he observed gaps in how creators and communities could monetize their content and manage their platforms effectively.
Determined to fill this void, Anshul began experimenting with different monetization strategies for creators and learned valuable insights over the years. This hands-on research enabled him to develop Socially, a platform designed to offer comprehensive support for community-driven monetization, including payments, memberships, and more.
During the ideation process, he paid close attention to user feedback and market needs, iterating and refining the platform to ensure it met the requirements of various industries. Although faced with setbacks, including the global pandemic, Anshul's resilient mindset and willingness to adapt helped him overcome these challenges and continue innovating in the tech industry.
How much money it makes: $1M/year
How many people on the team: 81
11. The Jed Mahonis Group ($960K/year)
Tim Bornholdt, co-founder of The Jed Mahonis Group, came up with the idea to start a custom iOS and Android app development consultancy after realizing the potential of the App Store. With a passion for technology and a friend who believed in the business, they started the company with just $250 each and have since grown it into a nearly seven-figure a year agency working with clients such as Great Clips and Profile by Sanford Health.
How much money it makes: $960K/year
How much did it cost to start: $500
How many people on the team: 8
"We started a custom iOS and Android app development consultancy that now makes nearly seven-figures a year by landing clients like Great Clips and the USA CUP after building successful concept apps."
12. Choicely ($840K/year)
Kaius Meskanen, founder of Choicely, came up with the idea for his business while playing around with SMS and voice call voting during a TV show. Realizing the need for more user-friendly engagement tools, he founded Choicely in 2015 and later pivoted to focus on building a mobile app builder that enables businesses to easily create high-quality mobile apps. With $70,000 monthly revenue and a client list that includes ITV Studios and the International Judo Federation, Choicely has experienced rapid growth and success in the media, sports, and entertainment industries.
How much money it makes: $840K/year
How much did it cost to start: $1M
How many people on the team: 15
Choicely is a no-code app builder that offers a simple, fast, and affordable platform for companies to build and maintain high-quality mobile apps, bringing in a monthly revenue of $70,000 with clients being leaders in media, sports & entertainment.
13. Modern Launch ($600K/year)
Cody Benedetto and Ryan Serkes, founders of Modern Launch, started their custom software development company after experiencing success with their own business ventures. Within just three months of launching, they generated over $100k in revenue and have been profitable since their third week in business. Their services include mobile application development, website development, and custom software development.
How much money it makes: $600K/year
How much did it cost to start: $5K
How many people on the team: 2
Modern Launch, a custom software development company, generated over $100k in revenue and achieved profitability within its first 3 weeks of bootstrapping, offering services including mobile application development, website development and design, and custom software development.
14. Bloomy Lab ($480K/year)
Alex, the founder of Bloomy Lab, came up with the idea for his business after facing difficulties with outsourcing companies while developing websites for his previous companies, Hasten and Tantify. This inspired him to build a team of creative professionals who could develop their own products, leading to the creation of Bloomy Lab and their focus on developing health, fitness, productivity, and life quality improvement apps. With a team of talented individuals, they have already created 20 apps in just six months and are showing impressive growth potential.
How much money it makes: $480K/year
How many people on the team: 19
Bloomy Lab, a web and app development studio, shares insights on how they developed their virtual staging platform Tantify and their process of launching new products without any ads, resulting in 40,000 downloads and $1,000 monthly revenue, as well as their plans for future expansion.
15. TRIARE ($300K/year)
Boris, the founder of TRIARE, came up with the idea for his software development company after working as a project manager for a German startup. When the company closed down, Boris decided to keep the team and build a business together. With just a $500 investment, they started providing software development services and eventually evolved into a full-cycle service provider. Through word of mouth and various marketing tools, TRIARE has attracted and retained customers, with their website receiving 22,000 unique visitors and generating dozens of leads.
How much money it makes: $300K/year
How many people on the team: 60
Ukrainian software development company TRIARE, with a current annual turnover of $500,000, shares how personal and collective responsibility, paired with patience and consistency, can help build a profitable business.
16. The Digital Vibe Podcast and Network ($240K/year)
Annette Thomas, the creator and founder of The Digital Vibe Podcast and Network, came up with the idea to start her business after feeling the need to challenge herself and express herself in a way that traditional avenues couldn't offer. Through self-education and using her voice to share her story, Annette has built a network that generates around $20,000 per month through various revenue streams including brand clothing, podcast sales, affiliate sales, and book reselling.
How much money it makes: $240K/year
How much did it cost to start: $10K
How many people on the team: 3
A founder shares how she built a podcast network with brand clothing, podcast sales, affiliate sales, and publishing book partnerships, generating around $20k per month, while staying true to her voice and values.
17. Aun Digital ($240K/year)
When a friend's cleaning business couldn't afford a website, Aun Ali discovered that many UAE startups faced similar challenges, inspiring him to launch Aun Digital. The firm offers affordable, comprehensive digital services and now generates annual revenue between $200,000 and $300,000, serving 20 regular clients.
How much money it makes: $240K/year
How much did it cost to start: $60K
How many people on the team: 50
Aun Digital, a UAE-based web design company, generated $200,000 to $300,000 annually by offering affordable and reliable digital services to small businesses, startups, and medium-sized enterprises, with 20 regular clients per year and an average project cost ranging from $10,000 to $15,000.
18. LeMI Apps ($168K/year)
a movie, or on vacation, LeMi Apps' SMS Marketing Auto Reply Apps for Small Business Automation allows users to set up automatic replies to missed calls, incoming texts, and messages from various messaging apps. Founder Michael Ginzburg, with his experience in mobile telephony and applications, identified a demand for a cost-effective alternative to expensive SMS marketing services and developed an Android app that offers keyword-based SMS auto-response at a fraction of the price. Despite facing challenges such as restrictions from Google Play Store, LeMi Apps has maintained its position as a leading SMS auto-reply app with high ratings and continuous support for its users.
How much money it makes: $168K/year
How much did it cost to start: $10K
How many people on the team: 4
This case study is about a mobile app entrepreneur who started with a simple SMS autoresponder app and has since released 17 more apps, occupying a leading position in communication apps, with a good achievement of $6,000 in revenue (temporarily) and over 500,000 users for their free app.
19. Mobapp Creator ($120K/year)
Leonardo, Germán, and Sebastian, the three co-founders of a No-code app builder solution called MobAppCreator, came up with the idea after years of working on various projects in the tech industry. They saw the potential of mobile apps after the launch of the original iPhone and noticed the similarities in their customers' requirements. They built a framework to develop no-code mobile apps and received a grant of 100K after participating in a product competition for entrepreneurs, which allowed them to dedicate all their time to the project and launch their business.
How much money it makes: $120K/year
How much did it cost to start: $50K
How many people on the team: 2
This case study features a team of three co-founders who provide a No-code app builder solution for small businesses and resellers, generating $120k per year while their running costs are only 10% of their overall COGS.
20. Panda Wish ($90K/year)
Mohammed Khonizi came up with the idea for Panda Wish after struggling to book a massage while traveling in the Philippines. He saw the need for a platform that would make it easier for clients to request beauty and spa services, while also helping massage therapists earn a good income. After conducting market research and piloting the app in Naga City, it quickly gained traction and attracted hundreds of therapists and clients.
How much money it makes: $90K/year
How much did it cost to start: $50K
How many people on the team: 1
Panda Wish, an on-demand beauty and wellness platform, built by Mohammed Khonizi, a Wayne State University MBA graduate, earned over $7.5k per month, following its successful pilot in the Philippines in 2019.
21. Rank Trends ($72K/year)
Md. Yousuf Ali, the founder of Rank Trends and Khan, came up with the idea for his business after discovering the potential of digital marketing through oDesk. With his background in web design and development, he launched Rank Trends to provide SEO, web design, and graphics design services. The business quickly gained traction and was recognized as the "Best SEO Service Provider in Bangladesh 2019." Today, Ali is expanding his retail business into the online space and plans to resume activities for Rank Trends soon.
How much money it makes: $72K/year
How much did it cost to start: $5K
How many people on the team: 2
This case study features Md. Yousuf Ali, the founder of Rank Trends, who shares how he started a successful digital marketing agency, which generated a revenue of over $6k per month through SEO and video production services.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
