One day after listing on the ASX, tech firm AppsVillage (ASX: APV) has announced the integration of their software with social media giant Instagram, providing access to 100 million new potential customers.
“We are dedicated to continuing to enhance the marketing channels outreach for our clients,” said AppsVillage Founder and CEO, Max Bluvband
“We are excited to provide this new enhancement to millions of SMB users who can now upgrade their business Instagram account into a powerful mobile business app”
The smartphone tech firm which raised $5m via their oversubscribed IPO provides small businesses with software that enables them to build their own customised mobile app, unique to their business.
The Software-as-a-Service is already integrated with Facebook, the owner of Instagram, and has already generated $631,000 in revenue for H1 2019 from their subscription model where small businesses pay USD $19.99 per month for the software. This has AppsVillage comfortably in line to eclipse the $750,000 revenue generated in 2018.
In 2019 alone, AppsVillage has reported to have acquired more than 2000 business customers and assisted in the creation of more than 4000 applications.
Beyond the subscription-based model, the Company generates additional revenue via 5-10% commissions from in-app purchases and 20-40% commissions from in-app Facebook advertising spend.
After Facebook, Instagram is the world’s second largest social media channel with more than 1 billion active users worldwide, of which an estimated 100 million are business accounts. Via the new SaaS integration, small businesses can now build an application based on their Instagram account details which enables them to send push notifications, advertise, offer coupons, schedule appointments and sell products.