Blast Applications (Pinksheets BLAP) is rapidly becoming a significant player in the software development market with its social networking sites and smartphone deals in the works. A brief review of 2010 headlines gives an indication of the degree of hard work and dedication the company’s personnel are putting into its product line as a new player in not one but two multi-billion dollar markets, social networking and smartphone application software. Blast Applications is tapping into Facebook’s more than 500 million users and utilizing its app revenue and “ad clicks” with this virtually unlimited exposure to the market to become a stronghold in its industry. Facebook in 2010 is projected to make over $2 billion in revenue in ad sales, so one can see what the potential here is. In addition to its Facebook apps, Blast Applications Twitter apps will also be generating revenue. With more than 190 million users, Twitter users send short (often from mobile phones) messages ranging from short comments about what they’re doing, interesting news clips, stock-buying suggestions and even search for jobs or employment candidates to the tune of approximately 65 million tweets per day. Revenue generation is currently small relative to Facebook, however the non-publically disclosed numbers per Wikipedia suggested over $57 million in revenue in 2009 via venture capitalist growth funding from several groups. Blast Application’s apps are described by the company as “allowing users to have more fun, be productive and make social media sites easier to use and more intuitive than before.” Thus, the primary focus for Blast Applications is its application software designed to make faster, more user friendly and useful access to Facebook and Twitter while generating revenue from the sales of the apps and the ads that accompany them.
On December 7, 2010 Blast Applications announced that Nokia approved it as an application developer for its Ovi app store. This site receives approximately 3 million downloads every day with approximately 1.9 million of those being in the form of apps. Of significance here is that Nokia is based in Finland and has offices throughout the world. This gives Blast Applications a huge potential level of exposure and nullifies some of the risk associated with having a strictly domestic market that may wane in times of a tough domestic economy. Follow up to the Nokia news was more on December 13th with its news that a license and service agreement between Blast Applications and Inneractive Ltd. was completed. Under the terms of the agreement, Blast Applications can benefit from using an Ad Revenue 'MMM' Platform for Nokia's apps. "This agreement will open a new revenue stream for Blast Applications, as well as many other developers looking for immediate money," stated Offer Yehudai, Co-Founder and CMO at Inneractive. Current Inneractive software developers are making up to $30K per month from in-app ads, so we’re starting to see the big picture where Blast Applications is heading with its apps agreement with Nokia. No doubt, other agreements and partnerships are likely being inked to further solidify similar agreements and keep its revenue stream consistent and growing with the exposure their apps will now be getting in yet another venue.
Not in direct competition with MySpace, Twitter or Facebook; Blast Applications also has some of its own social networking and other types of venture sites in place. It currently owns and operates Tweact.com, Twuition.com, Tweexchange.com, Twedemption.com, CanDoBetter.com and Taskslive.com. My personal favorite is Twuition.com which is a create and useful approach to using Twitter for obtaining specific types of information including the current nation debt numbers, current weather conditions for a specific location and other bits of information sent personalized to a Twitter account. For the single adults, CanDoBetter.com is a creative approach to meeting other singles through its free member or premium member profiles. These profiles may be set up to link with Facebook accounts to track and find other members and even ask for relationship advice through the “Ask Dr. J.D. Block” link. Doctor Block is a Blast Applications couples therapist employed specifically for CanDoBetter.com. The company also employees dating expert Kimberly Dawn Neuman to its advisory board to further legitimize the site and increase its usefulness to a wider range of users.
With its synergistic relationship with two of the biggest names in social networking, Blast Applications looks to steadily grow its application inventory and revenue while also developing its own niches in social networking and other entertainment sites. I briefly spoke with CEO Dino Luzzi briefly December 8th and was very impressed with his level of expertise with his products and particularly with his work ethic. He spoke of the 12-13 hours a day he often works for up to 7 days a week to get and keep his company going and has a high regard for those who work hard and are industrious and noted that hard work paying off is part of the American dream. An immigrant from Italy, he loves America and spoke so very highly of the United States and particularly its military. I hope to continue speaking with him and keeping track of him, his company's progress and its growth over the coming months and years. Have a close look at Blast Applications, perform some more of your own due diligence on it, and add it to your watch list to see how the future unfolds for this dynamic and growing software company.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: I am not a professional financial consultant and am not qualified or trained to give financial advice. I may open a long position in BLAP in the next 72 hours depending on fund availability.