A startup modelled around Thrasio called KalaGato, which utilises data to manage and purchase mobile apps, announced it would invest $100 million to grow its app acquisition business in addition to purchasing two mobile apps each month.
The company stated in a statement that it planned to acquire more than 70 apps over the following three years in order to attain a billion users. Furthermore, it states it has an aim to reach a Billion users over the next 5 years by identifying and acquiring undervalued mobile apps
According to KalaGato, it is the first company in the nation that buys out mobile apps using data in a Thrasio-style. It started out as a data analytics company in 2017 and changed its focus to assisting app developers and publishers with app sales last year.
KalaGato aims to acquire 1 Billion users over the next 5 years
“The mobile app market is growing from $700 billion in 2021 to $1.2 trillion by 2026. However, 0.001% of apps get venture capital funding, which includes every type of financing including family and friends. KalaGato provides a seamless exit to mobile app publishers and entrepreneurs with an option to sell their apps. We identify these apps through our proprietary and unique data platform and acquire them within 30 days,” said Aman Kumar, CEO and Co-Founder of KalaGato.
The company received $4 million in seed funding in December of last year from backers such as Anicut Angel Fund, AngelList, iSeed, Village Global, and 9Unicorns. The Delhi-based business has purchased a total of eight apps from the South Asian, Middle Eastern, and African regions as well as Europe.
KalaGato uses proprietary data to find and buy high-potential mobile apps. The KalaGato Insights Platform, which is based on 3.5 years of data from 20 million+ users and is updated daily, offers enhanced insight and aids in the identification of acquisition prospects. Famous Indian and international institutional investors, including 9 Unicorns, Village Global, and AngelList, support KalaGato.