Summary: Ukrainian mobile app developer Boosters has sold its popular sleep-enhancing app, Avrora, to American entrepreneur Ken Colbert. Colbert, who recently founded his own app development company One Eleven, sees great potential in Avrora and plans to continue expanding the user base. Boosters CEO Mykhailo Galian has decided to sell the app to focus on other growth opportunities and donate $85,000 of the profits to charities supporting injured Ukrainians injured by the Russian invasion.
Key findings:
- Charitable donation from the boosters: Ukrainian developer Boosters will donate $85,000 from sales of its Avrora app to charities supporting injured Ukrainians affected by the Russian invasion, underscoring the company’s commitment to supporting its homeland in times of conflict.
- Ken Colbert’s Acquisition: American entrepreneur Ken Colbert has purchased the Avrora app because he recognized its strong market presence and further growth potential. Colbert plans to further develop the app and secure its position as a top player in the sleep improvement niche.
- Avrora’s success and legacy: Founded in 2018 by Mykhailo Galian, Avrora has reached over 10 million users and $15 million in revenue, according to Boosters.
Ukrainian mobile app developer Boosters has sold its sleep-enhancing app Avrora to American entrepreneur Ken Colbert and will donate $85,000 of the profits to charities supporting injured Ukrainians injured by the large-scale Russian invasion.
Colbert has over 20 years of development experience and recently founded his own app development company, One Eleven. He says he bought Avrora because of the product’s potential and its market position.
“We were very impressed with the quality of the Avrora app/code and track record, so this acquisition was an easy one for us,” Colbert said in a press release. “We see a lot of potential for further product development in the sleep improvement space, as it seems like almost everyone has a problem with it these days. We plan to continue to work with the existing user base and increase the number of downloads to secure Avrora’s place among the top five apps in its niche. At One Eleven, we are excited about this acquisition and the idea that we can now concretely help people around the world improve their sleep quality.”
Avrora’s journey and success
In 2018, Boosters CEO Mykhailo Galian founded Avrora. Since then, over 10 million users have completed more than 40 million sessions on the app, generating over $15 million in revenue, according to a Boosters press release.
In 2022, Galian decided to sell Avrora. The main reason was his desire to focus his resources on niches with even greater growth potential. However, after the start of the large-scale Russian invasion of Ukraine, Galian says he accelerated the search for a buyer in order to donate part of the profit from the deal to help his Ukrainian compatriots.
Charitable donations from sales
“Over time, with the help of professional sleep experts, we’ve developed a comprehensive application that features a smart alarm clock, sleep data tracking, nighttime sound tracking, and a library of more than two hundred pieces of content to help you fall asleep and stay asleep,” Galian says in a press release. “In 2020, Avrora became the number one sleep app in the U.S. by downloads and ranked third in the meditation and sleep category.
“That’s why I’m very happy that the product that the Boosters team has put so much effort and energy into is gaining new momentum in the hands of Ken, who truly recognizes the value of what Avrora offers and has an ambitious plan for its development. It gives me even more joy to know that the profits from the deal will help Ukrainians affected by the large-scale Russian invasion of Ukraine.”
Profits will go to various charitable initiatives, including the Children of Heroes charity foundation, which helps children who have lost their parents in the war, and the KOLO charity foundation initiative, which was created to evacuate injured defenders from the front lines. The company also aims to provide long-term assistance during a difficult period of conflict, improving life and conditions in Ukraine and providing special opportunities.
The financial details of the exit were not disclosed.
Caption: Avrora App
Photo credit: Boosters
