Apple's iPad has been stated as the next revenue generating platform for the media companies, but it turn out to be that its two indian techies that made to be the top paid application on the App Store.
The two Indian-born graduate students Akshay Kothari, 23, and Ankit Gupta, 22, at Stanford University’s Institute of Design developed Pulse, the News Reader.
The two developed the service in the Launch Pad class, which asks budding entrepreneurs to develop and introduce a product in just 10 weeks. Mr. Kothari said the project was inspired by “a personal frustration at the whole news reading experience” on mobile devices.
Pulse is a revamped stylish new reader that shows news snippets is a grid of textx and photos. Users can finger-swipe back and forth across various articles from a single news source, or up and down through up to 20 news sources.
The app allows users to see text-only versions of articles, which are basically cleaned-up versions of a news site’s RSS feeds, or to see the full articles as they are presented on the Web. It also lets people easily share articles through Twitter and Facebook – bypassing the individual sharing tools presented by each news site.
The students estimate that about 15,000 people have downloaded their app, which translates into more than $40,000 in revenue, taking into account Apple’s 30 percent cut.
The pair have created a company, Alphonso Labs, and are now working on versions of the app for other devices, as well as talking to potential investors.
“You absolutely do not have to give away something great for free,” said Michael Dearing, a former eBay executive who is a teacher of the Launch Pad class. “If you build something great, people will pay you for it.”
Source - bits.nytimes.com