Private sale of crypto portfolio tracking app (CryptoTAIL) announced
Washington, D.C – A new app designed to help users track and sync their crypto assets has just been sold. RedON LLC just announced that CryptoTAIL, its crypto portfolio tracking app, has been acquired by a private software firm in Washington, D.C., as part of a larger portfolio purchase. The all-cash purchase is expected to close by late July.
CryptoTAIL was borne out of a specific need of passive crypto investors to be able to track their holdings across various exchanges. To meet that need, web and mobile versions of CryptoTAIL launched earlier this year. The app initially received positive reviews for both the Android and iOS versions and the team has been building on that user feedback since.
Maneesh Lekkala, CryptoTAIL’s Founder and Chief Product Officer, says the company was pleased with the initial results. He noted that they have focused their work on equalizing performance across platforms, “Out of a set of closely watched metrics, weekly active users (WAU) is higher for our Android app with a more engaged audience compared to our iOS app.”
The demand for an app like CryptoTAIL is reflected in the rapid growth of cryptocurrencies. The total market cap of crypto tokens has seen a staggering 1600% increase during the period from July 2017 until January 2018, from just under $4 billion to more than $68 billion. During that six-month period, Ethereum-based tokens saw their share of token market capitalization grow from 73.8% to 91.2%, with the market cap of Ethereum based tokens now at over $62 billion.
The rapid pace of growth impacted the development of CryptoTAIL. Mr. Lekkala explained, “Based on the changing landscape and user demand, we made a strategic shift mid-way through our development cycle to prioritize ERC-20 token wallet sync and it paid dividends. This has been one of the single most used feature of our app.” He added, “As they begin tracking their ETH addresses, users are pleasantly surprised to see random airdropped tokens in their Ether wallets automatically tracked by the app for them.”
Looking forward, the CryptoTAIL team will offer guidance and support to the new app support team to maximize ongoing development efforts.
The original CryptoTAIL development team includes:
- Rafal Janicki (Infrastructure Architect)
- Artem Luminov (Lead Backend Developer)
- Hung Luu (Founder, HDWebSoft)
- Vu Tran (Mobile Developer)
- Hue Luan (Web Developer)
- Vimal Kutmutia (UI/UX Designer; Founder, 17Seven Studios)
- Oahid Riton (UX Designer)
The team was advised by a group of seasoned professionals, including: Andy Acs (Co-Founder, TripScout)
- Rajesh Nerlikar (Mentor/Startup Advisor)
- Morgan Giddings (Founder, Piper)
- The Bitcoin Podcast Team (Corey, Marcello, Demetrick)
Check out CryptoTAIL, download the app at www.cryptotail.com/app
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