Keith Smith, co-Founder and CEO, originally hails from the Pacific Northwest and now calls New York City home. Keith spent the initial years of his career working as an analyst at a few financial institutions before founding CyberMortgage and then Zango. Keith was most recently co-Founder and CEO of BigDoor, which provides loyalty programs to large consumer brands, including; NFL, MLB, CBS, Viacom, and Starbucks. A successful entrepreneur, Keith regularly lends his time to early stage startups via TechStars and also serves as an advisor, investor and board member for multiple tech startups.
What does Payability offer app developers?
Payability provides financing solutions for app developers to receive their app store and ad network earnings faster instead of waiting on average 45 days after the end of the month.
Why is there such a need for this service right now?
There is a huge disparity in when app developers are spending cash on user acquisition (real-time) but then receiving earnings from in-app advertising (average 45 days after the ad runs). We’ve also seen funding sources become more difficult to come by – nearly all are requiring a minimum revenue of $100,000 and time in business for 3 years. These stipulations really put constrains on a business’s ability to finance their growth.
What types of app developers are you working with at the moment?
We work with all types of app developers. The developers who see the most value are actively growing their audience and monetizing. By advancing their earnings with Payability, they’re able to accelerate their user acquisition efforts
Do you have any successful examples or case studies of app publishers or developers you have worked with so far?
Absolutely. Check out this success story of one of our clients, Influence Mobile.
Is there a minimum revenue required to work with Payability?
We work with developers of all sizes.
What are the advantages that developers get from speeding up access to payments?
The biggest advantage to developers who are accessing their earnings weekly with Payability is the opportunity for them to readily reinvest in engagement and install campaigns. App developers who are reinvesting sooner and more frequently instead of waiting to spend when earnings come in have been able to noticeably decrease their CPI and ramp up their growth.
Is it safe to work with Payability and how are you funded?
We believe in our reputation so much that we will do whatever it takes to assuage doubts of potential customers. We are very fortunate to have loyal customers who generously provide references for us. Payability is self-funded so we’re able to put the customers first – we’re not answering to investors.
What else do you think is important for app developers to know about Payability?
I think its important for app developers to know that there are options to receiving their earnings on a schedule that works for their business – Payability is one of these options. App developers no longer have to accept these archaic payment terms of Net 30 (or longer), and can take control of their financing – without credit cards, venture capital or bank loans.
You check out Payability’s website here.