In 2012, SavvyCard® – a technology startup and member of our very first Accelerator cohort – predicted that a multi-billion-dollar shift in the mobile app space would take place within 5-10 years. Their CEO, David Etheredge, believed there would be a major platform transition away from the use of traditional mobile apps (also called “native” apps) to the use of Progressive Web Applications (known as PWA’s).
In Q1 2018, 28 billion mobile apps were downloaded and $17 billion was spent in app purchases. However; Gartner predicts that by 2020, fifty percent of mobile apps will be replaced with Progressive Web Apps. Driving this prediction is data from companies like Google, Twitter and Starbucks which shows that Progressive Web Apps outperform Mobile Apps in every key metric including conversion rates, which Google found increased by over 52%.
In the belief there would be huge revenue opportunities available from the PWA space, SavvyCard developed a data enabled platform that utilizes readily available business data to mass deploy and maintain PWA’s that permanently connect businesses and their customers. Today, only a tiny fraction of businesses have deployed Progressive Web Apps. If Gartner is correct, within the next few years millions of businesses will be transitioning their digital and social marketing to PWA’s. This transition will generate billions of dollars in new revenue opportunities and SavvyCard is positioned to capitalize.
SavvyCard has invested significant capital in building a platform that will accelerate the transition from mobile apps to PWA’s for millions of businesses. Regionally in Florida, SavvyCard has deployed over 200,000 web apps for real estate agents, their property listings and for local businesses. SavvyCard Web Apps create recurring revenue for the company, leads for real estate agents, value for consumers and capture key first party data, such as consumer intent to buy or sell. To accelerate the business model and scale nationally, SavvyCard has completed a reseller agreement with CoreLogic (NYSE: CLGX), the world’s leading real estate data company and provider of Multiple Listing Service (MLS) software.
SavvyCard is currently the only company mass producing Progressive Web Apps for the Real Estate industry and due to first mover advantage and the CoreLogic partnership, the company projects to provide PWAs for over 50% of the Agents and Home Listings in the Residential Real Estate market by the end of 2021. SavvyCard is focused on dominating the PWA market for the $2.2 Trillion Real Estate industry, but the platform has obvious future applications for other verticals including Business Services ($2.1T), Financial & Insurance Services ($1.3T), Health Care ($1.2T) and Retail ($1.0T).