. With Instagram recently having been acquired by Facebook for $1 billion and OMGPOP, makers of Draw Something, cashing in for $200 million, developers are attacking the mobile app space with a renewed vigor. Before jumping head first into a new project aiming to be the next big acquisition target, developers might be wise to look over a white paper recently put together by App Promo.
App Promo conducted a study last month in an effort to investigate how well mobile developers are performing in this crowded space. In its survey, the company found that a staggering 59% of mobile apps do not generate enough money to break even.
Boy Genius Report, Wake up call: 59% of mobile apps don't earn enough to break even
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