Stockfolio is a very exciting MacOS based app that allows its users to track both stocks and cryptocurrencies in real time. The application itself makes revenue through app sales as it is a $24.99 app. It only takes a few hours each month to operate and updates are few and far between as the foundation is solid.
Tell us a little about yourself. Do you have a background in app development? The finance industry? How did you wind up starting Stockfolio?
Hello, and thanks for asking. I’m an investor, without a technical background, acquiring digital passive income assets. My professional background is actually in law. I ended up acquiring Stockfolio from the original developers, who are based in Belgium, in 2018 and I’ve been managing and growing it ever since.
Because I’m an investor, and I have acquired various apps during the last few years, I was familiar with the product and acquiring the app just made sense. At the time, the cryptocurrency market was hot and this was a good proxy for the market. Whenever Bitcoin surged, there were more downloads. The original developers did a tremendous job building out a very feature complete Mac app, with extensive stock and cryptocurrency price tracking support, and as such it has mostly been a breeze running this app on autopilot.
How often are updates needed for the app and how are those being managed?
Not often. I have updated the app twice since acquiring it, and it has mostly been to add some small new features that users were requesting. The original developer has always been easy to work with and happy to work on new updates when necessary.
How have you marketed the product?
No marketing has been done at all. The website ranks on Google and we get a little bit of traffic through that, but most users discover and download the app through the Mac App Store. There is a huge opportunity there for someone with marketing know-how.
Is this only available on MacOS or is it also an iOS mobile app? Is there an opportunity there if not yet on mobile?
This is another space for fantastic growth. The app is currently only available on MacOS. Many users have requested an iOS companion app but, given I don’t have a technical background, I felt a bit uncomfortable launching a completely new product from scratch, even if I could contract and collaborate with the original developers for this.
The app comes with an email list of approx. 8500 addresses of users who have paid $25 for Stockfolio. An iOS version could likely sell for $10 per unit. Realistically most of those users will have iPhones, given the Apple ecosystem. In combination with potentially getting featured on the iOS App Store, that could make for a great launch where you can pretty much instantly recover any investments made in development. (Stockfolio was featured many times on the Mac App Store in the first year after launch; the original owners had excellent contacts at Apple.)
Having an iOS app would also serve as a secondary acquisition / marketing channel, where someone who discovers the iOS app might then also purchase the macOS app (or the other way around).
What are the key differentiators between Stockfolio and its competitors?
Stockfolio is a very advanced macOS investment research tool. We show detailed trading data, including specialized trading metrics. On top of that the app directly integrates signal from social media (News, Stocktwits and Twitter). You can see in real-time what is happening. The competing apps are very basic.