6 thoughts on “Updated: GetJar, an early app store maker, has been acquired”

  1. Hi Om,

    Thanks for updating the piece!

    I wonder if my calculation was wrong, as you are now stating a theoretical maximum of $78M if all performance targets are met.

    Using your $21 share price and 1,443,074 shares, it appears that there is a theoretical maximum of $35.6M (so less than my $38M with the $22.72 share price):

    $5.3M + ($21 x 1,443,074) = $5.3M + $30.3M = $35.6M

    Is something missing from this calculation, or is a different share class being used?

    Thanks again.

    All the best,

    Tim Merel

  2. Om:

    1,443,074 Class A ordinary shares =! 1,443,074 American Depositary Shares, or ADSs.

    If you read the securities filings of Sungy, you will learn that each ADS represents six Class A ordinary shares.

    It is the ADSs that are listed on NASDAQ.

    Therefore, 1,443,074 Class A ordinary shares = 240,512 ADSs.

    At a price of about $22 per ADSs, that’s an additional $5.3m if the performance targets are met.

    You may want to update the piece again.


    1. Raul – you make some good points about this being a net negative for the ecosystem but I don’t think that it’s indicative of a trend. The key long-term to a healthier ecosystem is to reduce the barriers for publishers to monetize in and support more platforms, stores, etc. Tools providers help with this, commerce engines like Lotaris help with this, service providers like CodeNgo help with this and appstores like Opera & others help with this too. The winners in the long run will be developers who best leverage these technologies and services to build their businesses more effectively and access the growing mobile customer base, particularly in developing countries.

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