The Indian technological applications industry is undergoing a sudden spurt in growth, thanks to the various initiatives of the Government. Though the growth has stimulated in the start-up trend, there are a few players in the field who are the early entrants. MoMagic is one such technological company that entered the arena of applications development before the onset of aggressive growth.
About MoMagic Technologies
MoMagic is a private limited tech company based outside Noida, India. The company has its presence in India since the year 2011, and it currently functions across five nations in South East Asia. The company has more than a 125 million app installations to its credit. It is involved in the distribution of mobile apps both online and offline.
Apart from applications, the company also engages in content distribution. In a short span of time, MoMagic has emerged as a bigwig in the mobile internet market and app environment. The company’s partner enterprises are Original Equipment Manufacturers (OEMs), start-ups, e-commerce players, production houses and gaming houses.
MoMagic is a commonly used mobile platform, and it is delivered to the customer through all three core channels namely Factory Level Preloads, Retail Offline Stores and Online User Acquisition Platform. Since it was among the first few companies to enter the mobile internet ecosystem, nobody understands the market better than MoMagic. As a result, it is vitally associated with the end customer.
MoMagic is a dominant player in the areas of innovation and development, and while developing applications, services, and own products, the company is looking at a dynamic expansion.
Investing Partners
The principal investor of MoMagic Technologies is MediaTek, a company that specializes in system-on-chip for mobile devices, DVD, wireless networking, and HDTV. In November 2015, FIH Mobile Limited owned 10{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} stake in MoMagic. FIH is a global tech company that provides green manufacturing services.
Numbers that reveal that MoMagic is the Industry Leader
As of 2015, MoMagic had more than 90 million users in India. This figure includes 75 million phone and smartphone users (as a result of OEMs), 12 million smartphone users through Over the Air (OTA) sources and close to three million users through offline sources.
The first eight months of 2015 saw a rise of 15 to 18{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} of application installations. This number is on a monthly basis. The most popular application categories that were installed include Social Network, Games and entertainment related apps.
In the offline user acquisition platform, MoMagic is ranked Number 1 in India. The number of impressions per month is currently more than 10 million. The 10 million mark was made across 250 cities that include 15000 retail shops and 30 million app user acquisitions through the offline platform.
The reasons for the tremendous result in the offline platform are due to lesser usage of internet services in Tier II and Tier III cities, along with network issues.
The Future Scenario
MoMagic is expecting a tremendous growth in the revenue this Financial year and more than twice the existing increase in workforce.
The current growth rate of the handset market is said to be between 25{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616} and 30{ed162fdde9fdc472551df9f31f04601345edf7e4eff6ea93114402690d8fa616}. MoMagic is looking to expand its user base by 12 million more by the financial year 2015-2016. With the Government of India promoting the Make in India and Digital India initiatives, a colossal growth is predicted for the Indian app and m-commerce environment.
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