What are the competitors for the startup weekend
App Radar: Graz startup takes over Spanish competitor TheTool
Apps are literally a dime a dozen. The challenge is correspondingly big that your own app stands out and is even found in the App Store, Play Store and Co. This is exactly what the Graz startup App Radar, founded in 2015 and in which eQventure and Michael Altrichter have invested, specializes. And customers from 160 countries, including Rovio Entertainment (including Angry Birds), Wargaming (including World of Tanks) and DEGIRO (online trading) also show that the founders have hit a nerve, such as an annual doubling of sales for the startup in the past two years.
App Radar complements its own solution with TheTool
As announced today, App Radar has now taken over a competitor for the first time with TheTool from Spain. The software specializes in the analysis and interpretation of app marketing data and the more than 400 customers will be taken over by the Graz startup. It is an asset deal. According to CEO and co-founder Thomas Kriebernegg, a six-figure cash amount is currently flowing. The final amount depends on the performance, i.e. how many customers are migrated from TheTool to App Radar, who then also remain App Radar customers.
“This acquisition is an important milestone in the development of App Radar. They not only improve our market position, but can also offer our customers an even better and more comprehensive solution, ”comments Kriebernegg. “TheTool's app analysis features are an important piece of the puzzle in order to offer our customers a holistic product for all aspects of app marketing. The takeover is just a first step in the right direction. Thanks to our continuous product development, we will continually adapt our product portfolio to the needs of our users and continue to focus on growth in the future by expanding our European business, with a focus on Germany and Great Britain ”.
And Daniel Peris, Co-Founder and CEO of TheTool, says: "Both companies have been able to develop outstanding products in the past and thanks to the integration of our functionalities, App Radar now offers customers a complete solution for app marketing". He will accompany the company on its way and continue to support the company on its growth path.
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