Summary: Ukrainian mobile app developer Boosters has sold its popular sleep improvement app, Avrora, to American entrepreneur Ken Colbert. Colbert, who recently founded his own app development company, One Eleven, sees significant potential in Avrora and plans to further develop and expand its user base. Boosters’ CEO, Mykhailo Galian, decided to sell the app to focus on other growth opportunities and to donate $85,000 of the profits to charitable organizations supporting injured Ukrainians affected by the Russian invasion.
Key Takeaways:
- Boosters’ Charitable Contribution: Ukrainian developer Boosters will donate $85,000 from the sale of its Avrora app to charities aiding injured Ukrainians impacted by the Russian invasion, emphasizing the company’s commitment to supporting its homeland during a time of conflict.
- Ken Colbert’s Acquisition: American entrepreneur Ken Colbert purchased the Avrora app, recognizing its strong market presence and potential for further growth. Colbert plans to enhance the app and secure its position as a top player in the sleep improvement niche.
- Avrora’s Success and Legacy: Founded in 2018 by Mykhailo Galian, Avrora has achieved over 10 million users and $15 million in revenue, according to Boosters.
Ukrainian mobile app developer Boosters sold its sleep improvement app Avrora to American entrepreneur Ken Colbert and will allocate $85,000 in profits to charity organizations supporting injured Ukrainians affected by the Russian full-scale invasion.
Colbert has over 20 years of experience in development and recently founded his own app development company, One Eleven. He notes that he bought Avrora because of the product’s potential and its place in the market.
“We were very impressed with the quality of the Avrora app/code and track record of success, making this acquisition an easy decision for us,” says Colbert in a release. “We see a lot of potential for further product development in the sleep improvement niche, as it seems that almost everyone has some kind of problem with it nowadays. We plan to continue to work with the existing user base and increase the number of downloads to secure Avrora’s place in the top five apps in its niche. At One Eleven, we are excited about this acquisition and the idea that we can now tangibly help people around the world improve their sleep quality.”
Avrora’s Journey and Success
In 2018, Mykhailo Galian, CEO of Boosters, founded Avrora. Since then, the app has seen over 10 million users complete more than 40 million sessions, generating over $15 million in revenue, according to a release from Boosters.
In 2022, Galian decided to sell Avrora. The main reason was his desire to focus his resources on niches with even greater growth potential. But after the beginning of the Russian full-scale invasion of Ukraine, Galian says he ramped up the process of finding a buyer in order to donate part of the profits from the deal to help his fellow Ukrainians.
Charitable Contributions from the Sale
“Over time, with the help of professional sleep experts, we built a comprehensive application that has a smart alarm clock, sleep data tracking, nighttime sound tracking, and a library with more than two hundred pieces of content to help you fall asleep and stay asleep,” says Galian in a release. “In 2020, Avrora became the number one sleep app in the US by downloads and ranked third in the Meditation and Sleep category.
“So I’m extremely happy that the product that the Boosters team has put so much effort and energy into will get a second wind in the hands of Ken, who really sees the value in what Avrora provides and has an ambitious plan for its development. It brings me even more joy knowing that the profit from the deal will help Ukrainians affected by the Russian full-scale invasion of Ukraine.”
The profits will support several charitable initiatives, including the Children of Heroes charitable foundation, which helps children who lost their parents due to the war, and the KOLO charitable foundation initiative created to evacuate injured defenders from the frontlines. The company also aims to provide long-term assistance to improve lives and conditions—and provide special opportunities—in Ukraine during a difficult period of conflict.
The financial details of the exit were not disclosed.
Photo caption: Avrora app
Photo credit: Boosters
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