San Francisco, California – Entrepreneur and developer Iliya Yordanov today is pleased to announce that his fourth software startup, SilverWiz, has recently surpassed $1 million in paid downloads of the company’s flagship app, MoneyWiz for Mac, iPhone and iPad. Yordanov, now 27, launched his first startup at age 15 and sold it four years later, investing the profits into his second venture. Selling his second company, he bootstrapped Cramzy, which scored with two best-selling iOS apps, 18,000 COOL JOKES and The River Test. With more than 8 million downloads, Yordanov sold Cramzy and started SilverWiz in 2010. Hiring a team of full-time developers, the young dealmaker took aim at the highly competitive market for personal finance apps. The result, his radically innovative app, MoneyWiz, became a Top 10 Finance app on the U.S. App Store and more than 25 other App Stores worldwide.
According to Yordanov, developers put too much emphasis on trying to open up a new niche. “I am an active mentor in an acceleration fund, and I am a regular at entrepreneurs’ meetings. I can tell you that I’ve seen all sorts of fellow entrepreneurs. And there is one thing that most of them don’t seem to get – everybody seems to think that they need to invent something that has never been done before, create a new market so to speak. The probability of creating a new market is one in a million. That’s one of the reasons we see so many failed entrepreneurs. While I think creating a new market is fantastic, I must note that this is not the only way you can contribute to make the world a better place.”
He compared this with his own experience as an entrepreneur. “I decided to go into a very saturated market, personal finance software. This calm and well-established market doesn’t see much innovation. I found that there are a thousand things that can be done better to bring the overall standard of quality higher. This is exactly what we did with MoneyWiz, and that’s the main reason for our huge success. We created a disruption within a market that rarely sees it, and we did that for the benefit of our customers.”
* Entrepreneur and developer Iliya Yordanov announces that his fourth software startup, SilverWiz, has recently surpassed $1 million in paid downloads
* Yordanov, now 27, launched his first startup at age 15 and sold it four years later
* Selling his second company, he bootstrapped Cramzy, which scored with two best-selling iOS apps
* The young dealmaker took aim at the highly competitive market for personal finance apps, releasing MoneyWiz, a Top 10 Finance app on the U.S. App Store
* English, Arabic, Bulgarian, Chinese, Czech, Dutch, French, German, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Romanian, Russian, Spanish, Swedish, and Ukrainian
* iPhone, iPad, or iPod touch
* Requires iOS 4.2 or later
* 27.9 MB
Pricing and Availability:
MoneyWiz – Personal Finance 1.4.1 for iPad is $4.99 (USD) and available worldwide exclusively through the App Store in the Finance category. MoneyWiz – Personal Finance 1.4.2 for iPhone is also $4.99. MoneyWiz – Personal Finance 1.4.1 for Mac OS X is $24.99. Review copies are available on request.
Based in San Francisco, California, SilverWiz was founded by indie developer Iliya Yordanov in 2010. SilverWiz fills a gap in the software space. Copyright (C) 2013 SilverWiz. All Rights Reserved. Apple, the Apple logo, iPhone, and iPod are registered trademarks of Apple Inc. in the U.S. and/or other countries. Other trademarks and registered trademarks may be the property of their respective owners.