Six years ago, during the worst financial crisis since the great depression, we started working with mobile app developers. They were “the crazy ones, the misfits, the rebels, the troublemakers.” At a time when many were questioning the viability of the US economy, let alone the tech sector, these developers left stable jobs and started companies to build mobile applications. It was not easy. We know. We were there with them. Today, the story is quite different. Mobile and its applications have disrupted every segment of the economy from media and entertainment, to communications, to travel, to retail and healthcare. Time spent on mobile devices by the average US consumer hasrisen to 2 hours and 42 minutes per day in 2014. 86% of that time is spent in apps, and about 60% of that time is spent in applications built by independent app developers. Over the past six years, we have been honored to work with and support these developers. Over 170,000 developers are using the Flurry platform for analytics, ad monetization and traffic acquisition. Together, they have over 540,000 applications on our platform. That number has been constantly increasing since 2008 and it is showing no signs of stopping.
Today, Flurry is entering a new phase of its life. I am excited to announce that we have reached an agreement to be acquired by Yahoo and expect to be joining Yahoo very soon. Like us, Yahoo is committed to mobile and has become a mobile first company with over 450 million mobile MAUs, a number that has grown by 36% since last year. Yahoo is committed to being a part of consumers’ daily life on mobile. More importantly, Yahoo knows that it can’t do this alone. We need the help of all the mobile app developers to deliver great content, services and experiences to billions of consumers.
As part of Yahoo, Flurry will continue to serve the application developer community in the way we always have, only better. With Yahoo, we will have access to more resources to speed up the delivery of great products that can help app developers build better apps, reach the right users for their apps and more importantly, make money from ads that look great and blend into the app experience. We have accomplished a lot on our own, but joined with Yahoo we are in an even better position to achieve our goals.
Over the past six years, we have done a lot as an industry. And, we still have plenty of exciting opportunities ahead of us. Mobile gaming is still just 14% of the $93 billion gaming software industry. US mobile advertising still counts for less than 5% of the $162 billion US Advertising industry. US mobile payment accounts for under 1% of the North American $157 Billion payments market. M-commerce accounts for less than 1% of the $3.25 trillion US retail industry. These markets and others are all up for grabs. We want app developers to grab them. We want innovation to continue. We want disruption to continue and we at Flurry, as part of Yahoo, want to be there for developers just as we have been the past six years, only faster and better equipped to help them win.
We want to thank 170,000 loyal app developers, marketers and partners for working with us up to this point. We can’t wait to show you what’s next… we’re only getting started.