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Austin Mobile App Firm Represents Ideal Startup Story
Published on Dec 10, 2010
Read our article, 'Austin Mobile App Firm Represents Ideal Startup Story' at 'Time to Start Up,' the small business blog by BizFilings.
A mobile app startup in Austin, Texas, has come to exemplify the rapidly emerging smartphone apps industry. Mutual Mobile was launched as a consulting firm in 2008, when the smartphone market was in its infancy and the app marketplace had barely begun to recognize its own potential.
Over the course of two years, the firm grew to 77 employees and expects to hit 200 over the coming year. Although plenty of companies sell mobile app programs, Mutual Mobile has adapted to the emerging market by gradually shifting its focus toward app management and consulting.
But unlike most startups, Mutual did not finance its inception through large investors. Instead, the company pooled resources and funded itself through consulting services.
Recently, the company was contracted by Google to develop an iPad app for one of its affiliates, Boutique.com.
"I feel like we do that every week," CEO John Arrow said. "It's a very progressive kind of continuous thing. We have had to work on simultaneously stabilizing our business and worrying about where will the growth be six months from now."
Currently, the company is generating revenue at a run rate in the tens of millions of dollars and serves as an ideal example of a bootstrapped startup.