The CEO of New York-based visual search startup Blippar recently boasted that his “company is going to be worth hundreds of billions.” This statement was made after Blippar received a Series C financing round of $45 million to help grow its business.
That’s a remarkable claim, given that the most recent six months of Blippar Android app data reveal plummeting user retention rates. App analytics show that the vast majority of Blippar’s users abandon ship within a month of first using the app.
Compare these stats to an average of almost 50 users who continue using the free apps of competitors after 30 days.
Blippar’s free app is currently ranked No. 40,218 on SimilarWeb’s Android App Index. This rank is based on the number of current Blippar installs and active users over the last month.
Suffice it to say, these app stats appear more likely to be from a self-promoted pony rather than a unicorn.
If the free visual search app can’t retain users’ eyeballs, the prospect of success for this developer’s bottom line doesn’t appear too rosy.