Microsoft Invests in Mimvi (MIMV) Mobile App Discovery Platform
Microsoft invested in Mimvi on Tuesday, designed to improve its app discovery capabilities for Windows Phone 8. For if developers build the most wonderful apps for Windows Phone 8, but no one sees them, what happens? Everyone loses.
Microsoft made an unspecified investment into Mimvi on Tuesday, almost certainly in an attempt to improve app discovery on Windows Phone 8 as the software giant prepares to launch its latest operating systems.
Specifically, Mimvi will develop a number of products and services to complement the Windows Phone 8 apps that will be hosted on Microsoft's Windows Azure public cloud, the two companies said. The agreement also involves Microsoft making undisclosed investments in Mimvi in the form of engineering services, software and cash.
"Although Mimvi is not certain to be the next Google, it is interesting to compare how investors would have fared if they had invested in Google at Mimvi’s current $10 million market cap. If an investor had purchased $1,000 worth of Google shares (theoretically speaking, because Google was not a public company at this market cap and past performance is no guarantee of future results) at this ground floor level, that investment today would be worth approximately $19 million. We believe that an investment in shares of Mimvi represents a compelling investment for speculative investors looking for exposure to the brand new app search market."