All has been quiet on the PR front since Mimvi (MIMV.OB) announced that Microsoft (NASDAQ:MSFT) had partnered and invested in the pure play app search and recommendation company at the end of September. That was until earlier today, when Mimvi announced it has signed an agreement with Entrepreneur Media (the publisher of Entrepreneur Magazine and Entrepreneur.com) to develop Windows Phone 8 Mobile and Windows 8 Surface apps in conjunction with Microsoft for Entrepreneur Media and the long list of companies that it works with. The press release states that the two companies will work "the full support of Microsoft" to launch a crowdfunding platform for the mobile developer within the entrepreneur community. The press release goes on to state that the "platform will help bring much needed exposure and resources to the developer community including crowd sourced funding, high profile media exposure, professional marketing, mobile search technologies and business development strategies among other benefits."
In particular, the agreement calls for Mimvi, a search and recommendation technology company that specializes in mobile app discovery solutions, to work closely with Microsoft to develop mobile apps and to provide mobile app search and recommendation services for the companies that work with Entrepreneur Media. Mimvi and Entrepreneur will release more details of the app developer offering on November 20, 2012. In addition to developing mobile apps and providing search and recommendation tools for the Windows Phone 8 Mobile and Windows 8 Surface platforms, it appears that Mimvi and Entrepreneur Media will explore ways to utllize Microsoft's Windows Azure Cloud Services as part of the deal.
The arrangement between Entrepreneur Media, Mimvi and Microsoft should have numerous benefits for both mobile app developers and companies seeking mobile apps. For instance, the partnership should enable greater exposure and credibility, wider distribution and social media reach and influence for apps and their developers. This should be a win for all concerned - the app developers, their clients, Mimvi, Entrepreneur Media and ultimately Microsoft as it will end up with more high quality and reputable apps on its mobile platforms.
Entrepreneur Magazine and its online version should become forums for publicizing the new apps - including feature stories and team profiles as well as outlining the app development opportunities available to the magazine's readership. Likewise Entrepreneur Media should find and gather advertiser interests in certain apps for white label opportunities and explore using the Mimvi technologies on their own apps and platform.
Meanwhile, as well as building new apps, Mimvi will likely look through the market to find new app developers with apps close to or ready for market. In addition it will install Mimvi Technologies (search, recommendation, MimviLink) into all apps for revenue generation and optimum performance. Eric Rice, Chief of Revenue at Mimvi, is now responsible for revenue generation. Mimvi will also provide a Countdown App for all apps on the market for crowdfunding to generate a user base pre-launch.
This agreement augurs well for all three parties - Mimvi, Microsoft and Entrepreneur Media. I would expect that many successful apps will be fostered through the arrangement and it to be a boon to Microsoft's endeavors to deliver not some much quantity of apps, but quality of apps to its Windows 8 Mobile and Windows 8 Surface platforms. I see this a great deal for Mimvi and Microsoft and consider them both strong buys as a result.
Disclosure: I am long MIMV.OB. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.