GasBag “one of the first” to use an advertising model for iPhone app
I love the name, but it many not do what you think. GasBag, built by two Aussies and two Americans, relies on users to input the location and price of gas. The way to make money? Run ads. The app has 75,000 users in the U.S. in its first month; the Australian launch is expected next month.
For now ads are from Toyota and Kia, insurer Esurance and classifieds site Cars Direct which should generate “hundreds of thousands” in revenues within a year for Jamcode the company behind GasBag.
“From our basic modelling it looks like we can monetise $1 to $5 per user, per year,” Jamcode managing director and ex-Sydneysider Mike Johnson said. “If we can scale that to half a million users by the end of this year when we expand to Canada, Britain and Australia, that’s a pretty profitable business from those banner ads.”
Mr Johnson wants to expand its advertiser offering and envisages location-based ads for nearby shops and retailers, and providing discount fuel vouchers through the iPhone.
That’s apparently the future, the one that so many people keep saying they don’t want.