When most of us think about obtaining Android applications the Android Market is most likely the number one spot that comes to mind. We can't forget about GetJar though, over the past year they've been hard at work keeping their open Android Market alternative going; all while maintaining a database of applications for various other smartphone platforms. Seeing the value in their work, Tiger Global Management has stepped in to help GetJar further innovating in their area of expertise by investing $25 Million into the company.

“GetJar has the rare combination of a differentiated, cross platform app store solution coupled with a unique revenue model,” said Lee Fixel, Managing Director at Tiger Global Management. “We’ve been highly impressed with the leadership team and their ability to disrupt the marketplace with the fraction of spend compared to the likes of Google and others. I’m very excited to see what GetJar will do next with our investment during this tremendous growth period.”

$25 Million should keep things running smoothly for a while. If you're interested in the full press release for further details you can find it after the break. [Businesswire]

GetJar Secures $25 Million in Series C Funding from Tiger Global Management

New funding to spearhead GetJar’s mission to help publishers acquire Android users profitably

SAN MATEO, Calif.--(BUSINESS WIRE)--GetJar (www.getjar.com), the world’s largest open app store with over 1.5 billion downloads to date, announced it has raised $25 million in Series C funding from Tiger Global Management. Accel Partners, which provided its series A and B rounds, will also participate in the series C funding. The new capital will be applied to continued innovations in its market approach and to support its rapid growth by expanding sales, marketing and engineering initiatives.

As the battle between open versus closed ecosystems continues, GetJar plans to aggressively expand its offering to Android publishers in order to secure its position as the premier “open” Android Market alternative while continuing to support other smartphone platforms such as Blackberry and IOS. In the past year, GetJar has established partnerships with key players such as Yahoo!, Sprint, AT&T, Openwave, Rovio (developer of Angry Birds), Zynga and Glu Mobile, quadrupling the number of downloads per month and significantly extending its global reach. This growth has led GetJar to triple their number of employees and expand its operations in Europe. The news comes at a time when GetJar has received much external recognition - most notably, the company was named 2011 Technology Pioneer by the World Economic Forum for being an innovative company whose approach to technology will have a deep impact on business and society.

“GetJar has the rare combination of a differentiated, cross platform app store solution coupled with a unique revenue model,” said Lee Fixel, Managing Director at Tiger Global Management. “We’ve been highly impressed with the leadership team and their ability to disrupt the marketplace with the fraction of spend compared to the likes of Google and others. I’m very excited to see what GetJar will do next with our investment during this tremendous growth period.”

“It’s extraordinary that with hard work and an amazing team, GetJar has become the world’s largest open app store with over 1.5 billion downloads,” said Ilja Laurs, founder and CEO of GetJar. “I was excited to receive such incredible interest for this Series C round of funding and thrilled to add Tiger Global Management to our current investor base. I look forward to rapidly scaling the company to take advantage of the enormous global app market opportunity.”

In a new report, market research firm Gartner forecasts that global mobile app store revenues will triple from $5.2 billion last year to $15 billion in 2011, and keep growing to an astounding $58 billion by 2014. In addition, Gartner estimates total app store downloads will reach 17.7 billion, with 81 percent of those being free, while mobile advertising is expected to grow nicely over time into a multi-billion dollar market. As the world’s largest open app store GetJar is uniquely positioned to excel in this space.

GetJar Networks Limited was represented in the investment by Orrick, Herrington & Sutcliffe.

About GetJar

GetJar is the world’s largest open app store with over 1.5 billion downloads to date. The company’s key point of difference is its open market approach, which allows it to deliver applications for both feature phones and smartphones across all major platforms such as Android, BlackBerry, Windows Mobile, iPhone and Symbian among others. The company provides more than 75,000 mobile applications to consumers in more than 200 countries. GetJar has been selected by the World Economic Forum as a Technology Pioneer for 2011 for its innovative approach to technology and its deep impact on business and society on a global scale. GetJar is backed by Accel Partners and is headquartered in Silicon Valley with offices in the UK and Lithuania. For more information: www.getjar.com and follow us on Twitter@getjar.

 
There are 4 comments

heavyvino says:

I had forgotten about them.

fujii13 says:

Why? Any time GetJar gets exclusive release rights for an app, they've made it extremely annoying for the end user (hello Angry Birds?). I'll stick to the Android Market.

jg274105 says:

I just don't get it... What do people see in GetJar? The site is one of the worst I've seen. It's so unprofessional and annoying that I refuse to go there. Their "app" simply takes you to their webpage (which again, looks like crap) and to me felt even worse than the full browser.

I would say GetJar is second to mind, but really it's not even that. I think more of the unreleased App stores (Amazon, Tegra Zone, PlayStation Suite) before GetJar comes to mind.

In fact, the only time I remember GetJar even exists is when they get some 'exclusive' which usually isn't as good as it's hyped up to be or ends up on the market a few hours later. (Even in one case they claimed to have "Full" games when they were quite clearly demos)

greentj says:

Never heard of them before but it sounds likes it's worth taking a look.