The company had raised $400,000 in seed funding from Tokyo-based mobile company I-FREEK.
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This morning, founder and CEO Alvin Koay published a press release, announcing that MobileApps.com has now effectively been terminated and that the domain name was put up for sale for the relatively high price of $1 million (a deal would also include the domain name MobileAds.com, to be fair).
According to this report, Koay acquired the domain for $10,000 back when Apple launched its App Store – you do the math.
Do you think MobileApps and MobileAds.com are worth $1 million, combined?