ONE Store secures 10-million-dollar investment from Digital Turbine

Rhea-AI Summary

Digital Turbine (NASDAQ: APPS) has invested $10 million in ONE Store, a leading Korean app market, to expand its reach into international markets, leveraging Digital Turbine's SingleTap® technology and global growth solutions. The partnership aims to enhance ONE Store's app marketplace and provide optimized app install journeys and conversion rates for app developers.

Positive

• Digital Turbine's investment validates ONE Store's potential for global expansion.
• The partnership aims to bring Digital Turbine's technology to over 40+ million ONE Store users in South Korea.
• The collaboration will focus on advancing ONE Store's penetration into international markets and enhancing its app store business.
• ONE Store has previously received investments from Microsoft, Deutsche Telekom Capital Partners, and Krafton, further validating its potential.

Negative

• None.

Market Research Analyst

The investment by Digital Turbine into ONE Store signifies a strategic move to tap into the burgeoning app market in South Korea and beyond. By leveraging ONE Store's established presence in the Korean market and Digital Turbine's SingleTap® technology, the partnership is poised to enhance user experience and expand their global footprint. This is indicative of the larger trend where companies are seeking to create more integrated and seamless ecosystems for app distribution and monetization.

From a market penetration perspective, ONE Store's expansion into international markets could disrupt the current app store duopoly, offering developers an alternative platform with potentially lower fees and better terms. This could lead to a reshuffling of market shares among the leading app stores. Hence, stakeholders in the mobile ecosystem, including app developers, advertisers and publishers, should closely monitor the trajectory of this partnership.

Financial Analyst

The $10 million investment by Digital Turbine is a strategic move that aligns with its growth trajectory and prior investments in the mobile ecosystem. This partnership is expected to foster synergies between the two companies, potentially leading to increased revenue streams through user acquisition and ad monetization solutions. For investors, this move could signal a long-term growth strategy that diversifies Digital Turbine's revenue sources and expands its market influence.

Considering the previous investments from giants like Microsoft and Deutsche Telekom Capital Partners, as well as Krafton, ONE Store appears to be a compelling investment target with a track record of attracting significant capital injections. These investments could be seen as a vote of confidence in ONE Store's market potential and its ability to scale globally, which may have positive implications for Digital Turbine's stock performance in the long run.

Technology Industry Analyst

The partnership highlights the importance of on-device technology in the current mobile ecosystem. Digital Turbine's SingleTap® technology facilitates frictionless app installations, which could significantly enhance user experience and conversion rates for ONE Store's app marketplace. This technological synergy could yield a competitive edge, as ease of use and user engagement are critical factors in the success of digital platforms.

Additionally, the mention of the Digital Markets Act in the EU indicates a regulatory environment that may favor alternative app stores, creating a timely opportunity for ONE Store and Digital Turbine to capitalize on. Their combined capabilities could position them well in a market that is increasingly supportive of competition and consumer choice.

- Global mobile growth leader Digital Turbine invests in ONE Store, acknowledging its potential for global expansion beyond the Korean market.
- Both companies will concentrate their collaborative efforts on advancing ONE Store's penetration into international markets and enhancing its app store business.

SEOUL, South Korea, Feb. 6, 2024 /PRNewswire/ -- Korean app market ONE Store (www.onestorecorp.com), a provider of mobile content including games, apps, and multimedia content, announced that it has secured an investment of ten million dollars from Digital Turbine (NASDAQ: APPS), the global leader in growth solutions for the mobile ecosystem, bringing Digital Turbine's innovative SingleTap® technology to over 40+ million ONE Store users in South Korea, and joining forces in bringing ONE Store's app marketplace to key markets overseas.

Digital Turbine is a global leader in mobile growth solutions. Its technology enables frictionless distribution of apps and content to mobile users around the world, delivering solutions for results for the world's leading telcos, advertisers, and publishers. DT's technology is installed on 800+ million devices worldwide through partnerships with over 40 mobile operators and device manufacturers in multiple markets.

Digital Turbine decided to invest in the growth potential and business synergies of Korea's leading app market, which plans to extend its reach into the global market.

As part of this strategic partnership, app developers distributing their apps through ONE Store's leading application marketplace will benefit from an optimized app install journey and best-in-class conversion rates, and both companies will leverage their unique combined capabilities to facilitate ONE Store's entry into international markets and expanding its app store business.

The two sides expect synergies in different markets around the world by combining ONE Store's expertise in distributing games and apps through the mobile app market and capabilities in running a platform, and Digital Turbine's on-device technology and suite of user acquisition and ad monetization solutions. The companies plan to grow the app market platform into a highly competitive alternative app store that unlocks new growth opportunities for more app and game developers across more devices worldwide.

The investment from Digital Turbine further validates ONE Store's potential, following a 15-million-dollar investment from Microsoft and Deutsche Telekom Capital Partners in 2021, and an investment of 20 billion Korean won from Krafton, a leading game developer in Korea, last October.

"Digital Turbine's investment offers a great opportunity for ONE Store to work with an outstanding partner in expanding into global markets," said Peter Chun, CEO of ONE Store. "We will go beyond being Korea's leading app market to grow into a global player."

"We're excited to partner with ONE Store, trailblazers in alternative app markets reaching tens of millions of users," said Bill Stone, CEO of Digital Turbine. "This partnership will bring DT's unique technology to tens of millions of users and hundreds of app developers in Korea. We look forward to building on our partnership with ONE Store in Korea into other parts of the world such as the EU with the pending implementation of the Digital Markets Act next month."

View original content to download multimedia:https://www.prnewswire.com/news-releases/one-store-secures-10-million-dollar-investment-from-digital-turbine-302054499.html

SOURCE ONE Store

What is the ticker symbol for Digital Turbine?

The ticker symbol for Digital Turbine is NASDAQ: APPS.

How much did Digital Turbine invest in ONE Store?

Digital Turbine invested $10 million in ONE Store.

What technology will Digital Turbine bring to ONE Store?

Digital Turbine will bring its SingleTap® technology to over 40+ million ONE Store users in South Korea.

Who are the previous investors in ONE Store?

ONE Store has received investments from Microsoft, Deutsche Telekom Capital Partners, and Krafton.

What is the focus of the partnership between Digital Turbine and ONE Store?

The partnership aims to advance ONE Store's penetration into international markets and enhance its app store business.