With just two lines of code, TheMonetizr can turn any mobile application asset into buyable merchandise.
Name: Monetization Solutions LLC / “TheMonetizr”
Location: Northern Kentucky
Website: http://themonetizr.com
Product / Service Offering: In-application merchandise for game developers
Co-founder Interviewed: Andris Merkulovs
Other Key Management Team Members: Martins Bratuskins, Reinis Skorovs
Tell us a little about yourself with a focus on what motivates you.
We love information technology and love solving complicated tasks with the help of technology. Seeing a great potential never used before, we offer a new monetization opportunity for application developers as well as innovation in the industry. Our Northern European temperament pushes us further to solve challenges that are more difficult.
When did you establish your company and where did the idea originate?
The Monetization Solutions was established with a long-term vision of helping businesses to monetize their brand assets. The idea originated from a series of hypotheses and tests while working on corporate projects in our previous jobs, seeing problems from “the inside”. Well-established industries are well behind the technology curve. We know how to improve processes and bring automation to existing infrastructure.
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What need or needs does your company seek to fill for its customers?
We are helping mobile applications and game developers to monetize their brand. Mobile application monetization is hard, especially for early stage developers. Ads are annoying customers and generate relatively small revenue returns. If the application is profitable, mobile developers are exploring opportunities to engage customers and build their loyalty, at the same time increasing returns per user.
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With just two lines of code, TheMonetizr can turn any mobile application asset into buyable merchandise. It engages the application user in the application accomplishments. We leverage social influence, assuming loyal application users proudly advocate their achievements to their friends.
What is the one thing that sets your company apart from its competitors?
We make monetization one-hundred times simpler, just because it is two lines of code. We do everything for our customers. From a technical point of view, we automate the processes by using existing infrastructure. We are “Uber for printing”.
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What was the biggest challenge you faced while getting your company up and running, and how did you overcome it?
Moving from Latvia to the United States, leaving well-paid jobs, and our families behind is a challenge in itself. Of course, we had to prove the concept and build MVP, but apart from that, we think the biggest challenges are still ahead.
Are there resources you have utilized that other founders might find compelling or useful?
The Internet contains hundreds of high quality blogs, podcasts, articles and personalities to follow to learn. What is most important, is to take action!
What steps have you taken to secure funding for your company and what, if anything, would you do differently if you had to start over?
Moving from Northern Europe to the United States and registering a company in Kentucky. We have had to prove the need with the first customers, and spend every cent wisely. Eating, sleeping and working.
We are still early in our path; therefore, mistakes will be seen further in the future. In order to avoid that, we have joined a highly professional accelerator program, UpTech. Its’ fantastic program director and mentor group will guide us so we will not think of the scenario “doing differently when starting over”.
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Have there been any questions you have had as an entrepreneur of a fledgling startup that you had a particularly hard time finding the answers to?
Yes, and that is work ethics and full commitment of people, startups, and projects across the countries. There hasn’t been a unified term of what everyone means by working hard. For me, it means 100 hours or more per week, being accountable to the team, investors, and customers. It is not about bragging; it is about doing.
What challenges, if any, are you grappling with?
Challenges include, speed to product market fit, the speed of growing our waiting list, paying customers, and creating jobs for the state.
What is the most helpful tip or “hack” you’ve ever learned, stumbled across, or been given?
A very simple and basic one helps our team get things done. You must book time on your calendar to address the most important thing that stops you from moving forward. Turn off all emails, social media and notifications. Get your team together and address any roadblocks!
Is there anything else you would like to share about your company?
Brands who will join TheMonetizr waiting list (http://themonetizr.com/contact-us) through this article will get a free mobile application monetization consultation, custom iOS SDK implementation free of charge (save $1000), and will get first 1,000 merchandise products with doubled profit share. We are giving away more than $7,000 in total value.
Sandra Sloan
Sandra has previous supply chain and business operations experience which she is leveraging as an author with FundingSage focused on spotlighting entrepreneurs and their startup efforts.
