Figure 1: Kiip Founder, Brian Wong
The recent success of mobile game apps has influenced the entrepreneurial battle to create the next million dollar app. However, a majority of released apps only earn a few thousand dollars before users become unwilling to pay for them. This issue leads many developers to seek assistance from the company Kiip.
A Sauder School of Business graduate, Brian Wong, founded Kiip after noticing that game app advertisements were frustratingly large and an app’s short life is not a result of a switch in consumer demand, rather a lack of incentive to pay associated expenses. Wong then discovered that by rewarding users with real-world prizes for their mobile game achievements, developers can keep their consumers interested and happy. Kiip’s team invented a reward system which developers implement in their apps and advertisers pay the company every time a user redeems a reward.
Figure 2
As UBC professor, Paul Cubbon, has mentioned “ideas are cheap,” therefore, the implementation process heavily influences an opportunities success. While other entrepreneurs followed the app creating trend, Kiip differentiates in that Wong approached the opportunity using his knowledge of computer sciences, giving him a unique perspective. The company’s success can be greatly attributed to his experience in different fields, which motivates me to explore new challenges that may provide similar advantages in the future.
Sources:
Figure 1:http://engineer.typemag.jp/wp-content/uploads/2013/08/kiip-wong01.jpg
Kiip Website: http://kiip.me/