Mimvi, Inc. (MIMV.OB) a pure-play mobile technology company today announced that it has submitted its iOS search and recommendation app, Mimvi App Search, to Apple's (NASDAQ:AAPL) App Store. Mimvi's proprietary search and recommendation technology is a comprehensive discovery technology for Mobile Apps. Its proprietary search and "intelligent" recommendation algorithms enable the search and discovery of Mobile Apps, Mobile Content and Mobile Products across multiple devices and platforms, including: Apple's iPhone and iPad, Google (NASDAQ:GOOG) Android, (RIMM) BlackBerry, (NASDAQ:MSFT) Windows Phone, (NASDAQ:FB) Facebook and Web Apps. The company claims their search technology delivers more searchable results than any other service in the marketplace.
Michael Poutre, Mimvi's CEO and President, said, "This submission is in line with the product plan which we presented last November that provides Microsoft an exclusive 30-day release ahead of other platforms. Following the iOS launch, we will press ahead on the Android front." Poutre continued, "Given the discovery challenges which continue to plague both developers and consumers on the iOS platform, we are excited about the benefits that Mimvi's proprietary search and recommendation technology will generate."
Considering that Apple announced yesterday that it now boasts an astonishing 775,000 apps on its App Store, the arrival of this powerful app search and discovery tool can only be good news for Apple, as well as its developers and consumers as it should enable much easier discovery of apps. This is just another bit of good news for Apple, coming on the heels of its announcement yesterday that more than 2 billion apps were downloaded from its App Store in December.
Likewise, of course, this product release to Apple comes as great news for Mimvi and should bode well for its future prospects. The company announced the release of Mimvi App Search in the Windows Phone Store earlier in December. Later in December it announced it was utilizing Microsoft's Windows Azure cloud platform to extend its core technology to internal and external groups and partners in the Microsoft ecosystem. Its stock has been trading in the $0.29 to $0.40 range over past month. I would now look for it to stablize in $0.40's and move higher as its iOS App gains momentum and the company releases it Android Search and Discovery App later this month. Mimvi should be trading in the $1.00 range before too long.
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.