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Interesting. I wonder if they did that and then bought it themselves a few times to juice it into the list.
I'd say that's exactly what happened.

There's no better App Store marketing that the top lists and on a slow week it will only cost $125 (30% cut to Apple) * whatever number of sales it takes to break the list. Much cheaper than a big ad campaign. Very smart way to game the system.

I don't understand how this works ... what does this accomplish ?

They're remaining on the same spot in the list.

The list is 'top grossing'. You get there by having a high sales by dollar per unit time. They put the price up and bought the app a few times. They get 70% of what they paid back. And the app is suddenly grossing the same as a $0.99 app that's selling hundreds every minute. This launches it into the chart. Then they drop the price and real customers see it and think it's a very popular $0.99c app.