Ukrainian IT company Boosters has sold its sleep improvement app Avrora to American entrepreneur Ken Colbert.
The businessman has over 20 years of experience in development and recently founded his own app development company, One Eleven. He explains the acquisition of the app by the potential of the product and its place in the market.
"We see a lot of potential for further product development in the sleep improvement niche, because it seems that almost everyone has some problems with it now," he said.
The entrepreneur also shared his plans to continue working with the app's existing user base and increase the number of downloads to secure Avrora's place in the top 5 apps in its niche.
Boosters CEO Mykhailo Galyan notes that he founded Avrora in 2018. In the 5 years of its existence, the app has helped more than 10 million people with sleep, who have completed more than 40 million sessions.
He said that the first version of Avrora was called Sleep Booster and consisted of a black screen, a huge Boost my sleep button, and a timer to set an alarm. The button triggered a breathing exercise to help the user relax and calm down before bed.
"Over time, with the help of specialized sleep experts, we managed to reformat the product into a comprehensive application that has a smart alarm clock, sleep data tracking, nighttime sound tracking, and a whole library with more than two hundred pieces of content that help you fall asleep and stay asleep," the company's CEO added.
According to him, in 2020, the app was the first among sleep apps in the US in terms of downloads and ranked third in the Meditation and Sleep category.
Mykhailo Galyan made the decision to sell Avrora in 2022. The main reason was the desire to focus resources on niches with even greater growth potential.
The amount of the deal was not disclosed, but Boosters donates UAH 3.5 million of its profits to charity. The first installments will go tothe Children of Heroes and KOLO charities.
The application is available for download on Google Play and App Store.
Boosters is a product company with three main mobile and web products in its portfolio: Promova, a personalized foreign language learning platform, Manifest, an app with daily affirmations, and JustDone, an AI assistant for working with texts.