I’m going to avoid making a single Inception joke in this entire post. You are welcome.
MoMinis, an Israeli company, has taken on a second round of funding to the tune of $4.5 million, from its previous investors, BRM Group and Mitsui Ventures. The company has seen big momentum in its product, PlayScape, and is calling the new funds a result of the success of its product.
That product is an app full of apps. Essentially, on Google Play (the Android app store), it’s hard to find great games, and it’s hard for great games to be found. MoMinis has tackled that buy building an app that includes a pile of other apps, more than 50 so far.
As it’s free, consumers have taken to it as a way to get quality titles, in one place. And since it is 50 in 1, it keeps consumers coming back again, and again. In its release on its funding, MoMinis touted its retention and engagement. Eran Barkat of BRM Group put it in the following way: “In a market where 99.99% percent of mobile apps languish and disappear, PlayScape offers a solution for mobile game developers, providing distribution and discoverability.”
Developers can build for it, but are there enough consumers on board to make it worthwhile? MoMinis claims more than 15 million downloads in the past three months. That, coupled with a very high rating on Play gives MoMinis serious traction. How does the company make money? In the exact way you would expect, according to VentureBeat: “The app and the games are free, but users can pay for virtual goods within them.”
Nothing is hotter than mobile gaming at the moment, so this play is in the perfect space. In my view it does say something about how chaotic the Android app ecosystem is that this sort of app is required. That’s nothing against MoMinis of course, but it is curious.