Telecom buys 20pct stake in app builder
Telecom has taken a 20 per cent stake in 20-person Auckland software firm App La Carte, which sells cloud-based software that lets businesses cheaply put together mobile apps.
App La Carte chief executive Aaron McDonald said the company was created 18 months ago by a group of developers who wanted to make it easier for people to build mobile apps themselves, rather than outsourcing all development.
Its software could be used to create anything from a simple "landing page" to mobile apps that could be used to take payments and engage in e-commerce, he said.
McDonald would not reveal the size of the investment by Telecom, which has taken the option to increase its stake to 40 per cent.
Telecom described the investment as "modest".
The investment was made through Telecom's Digital Ventures business unit, which last year invested $5 million in a 40 per cent stake in healthcare monitoring firm Vigil Wireless Sensor Technology.
- The Dominion Post