On Thursday Appster founded in 2011 with the co-founders, Mark McDonald and Josiah Humphrey, at last, placed itself into liquidation. App development business Appster started in Melbourne (Australia) by two young guys who appeared to be right out of high school.

The business developed tailor-made apps for businesses across the world and had operations in the US and India, as well as Australia.

With their debut on the list with a combined wealth of $58 million in 2015 has been always featuring on the list every year since. In a short span, Mark McDonald and Josiah Humphrey expended their hands out of their continent and opened offices in San Francisco, New York, and India.

The co-founders said that they were heartbroken and acknowledged that despite their best efforts, sometimes “things don’t work out”. They added, “Surprisingly, we were in one of the best cash positions the business had been in, just four months ago, but things spiraled out of control very quickly,”. “We missed forecasted sales targets by about 50 percent four months in a row with expenses of roughly $1 million per month, our cash reserves were depleted very rapidly despite attempting cost reductions.”

In 2018 Appster was ranked at 96th and 97th and had a combined wealth of $52 million. It always ranked top of paid advertising on Google Adwords as well as ranking highly in organic results has now collapsed.

These young tech gurus employed an army of about 400 people, mostly developers have been ranked as some of the country’s richest people under 40.

If you had a project with Appster what should you do next?

Appster, an Australian based company had most of its App development work done in their App development office Gurgaon, India. Like Appster there are a number of companies working in the same domain which provides App development services at affordable prices.

So, if you want to hire skilled developers at a reasonable price here I suggest App development companies, who forecast their App services to visualize your business ideas. Codal, DOM & TOM, DMI (Digital Management, Inc.), Quytech, Nagarro, Intuz are among the App Development companies that provide App development services.