Where To iPhone app sells for $70,000

A couple of months ago, when iPhone application developer Tap Tap Tap announced that it was shopping around its flagship Where To software, we wondered how much an iPhone app, albeit a successful one, might be worth.

Now we know. Ortwin Gentz, co-founder of Mac software developer Equinux, purchased the GPS-powered location finder for $70,000. The amount will be split between Tap Tap Tap's co-founders, John Casasanta and Sophia Teutschler -- who have since parted ways, as noted in the original Times post.

In its first three months on the market, Where To generated $200,000 in revenue with more than 70,000 sales. But the app was pulled off the App Store in October.

The program is once again available for purchase through the iPhone's app directory as of Tuesday. Gentz plans to continue development with the help of Teutschler.

Gentz had mulled over developing his own GPS locator from the ground up, but after calculating the development costs and timing -- he wanted to catch the holiday shopping season -- he decided Where To was a sound investment, he wrote on his blog. He estimates that he'll turn a profit in a year and a half, the blog post says.

Where To can be purchased for $2.99 in the iTunes App Store.

-- Mark Milian

Photo: Where To sold. Credit: Tap Tap Tap

Comments

[Janet Ali]

I think, developing apps to iPhone will the pilot technic to make money in sofware bazaar

[Henry and Hailey's preschool pals]

Is this the first app to have been sold? I would be curious to see what other companies make when they decide to sell their apps. I would love for my app to be successful enough that another company would want to buy it.