AVG Android App Hits 70M Downloads, Investors Cheer 1Q
AVG Technologies, which offers Internet and mobile security, is hitting a chord with Android users. The company said today that its flagship mobile product, AVG AntiVirus Free for Android has surpassed 70 million downloads on Google Play.
John Giamatteo, COO of AVG, said mobile will continue to influence the company's strategy going forward, but he adds that for now it's less about monetization and more about growing a user base on smartphones.
"It's definitely the early days of monetization on mobile. Right now our focus has been on building a large community of users," Giametteo said.
That strategy appears to be working. AVG currently has 150 million active users and fully 36 million of them come from the mobile space.
The company's PC products have been able to shoulder the burden as the company finds it feet in the mobile space. After going public in February of 2012, AVG yesterday reported solid earnings. Revenue for the first quarter of 2013 was $104.7 million, compared with $83.0 million in the first quarter of 2012, an increase of 26 percent. Net income grew 74 percent.
AVG mainly targets the consumer space with its mobile products, but Giamatteo adds that the company has a found a sweet spot in offering security solutions for the small businesses.
The openness of Android makes it best suited for a security product, but Giamatteo says that AVG thinks the opportunity in mobile goes far beyond security alone.
"We just recently released a Windows application for family safety," Giamatteo said, adding that the features it will offer on any given platform depend on the platform itself. For instance, he says that while the closed nature of iOS might not make it a good fit for security, iPhone users might like an app that monitors data usage or batter performance.
AVG has apps in the works that shrink images for easier storage and sharing; a valut app that protects personal information; anti-theft solutions; and a cleaner app that will free up memory space.
The endgame for AVG is a unified suite of services and applications that works across screens.
"I think our cross-platform approach is resonating with the market," Geamatteo said. "As we continue to roll out the product roadmap over the next couple quarters, you'll see more deliverables on that around providing that unified experience so customers can log into their AVG account and manage their devices regardless of what kind of device it is."
Investors apparently like what they're seeing from AVG. Shares of the company were up 7 percent to $15.13 in early trading.