Banned App Store Developer Had Been Trying to Auction Off Business

MacRumors · Aug 5, 2009, 11:04 AM

Yesterday we reported on a MobileCrunch story> about developer Khalid Shaikh, whose developer status was terminated by Apple over third-party intellectual property complaints, resulting in the removal of all of his apps from the App Store. Shaikh had several hundred apps under his name in the App Store, many of which seemed to simply pulled data on a specific subject from the web without providing any other original or unique content. Additional information has come to light about Shaikh showing that he has been attempting to sell Perfect Acumen, the business entity responsible for the development of his apps, for some time now.

On Flippa.com, his auction is titled "1400 iPhone Applications for Sale" with the most recent listing date as July 2. Although all of the apps he previously had in the App Store were listed under his name alone, the details within this auction reveal that the apps were the products of Perfect Acumen. The auction is still active and shows no offers pending or accepted.

Previous auction listingsshow an interesting trail of information for the business, with the first auction in January indicating that the business had 5 employees and earned $1800 per month in revenue, all the way to the current listing that states the business has 60 employees with revenue between $10,000 and $50,000 per month. Shaikh also reveals in this listing that headcount is expected to increase to "120 to 240" by the end of this year and that they plan to have over 10,000 apps within this same time frame.

According to Perfect Acumen's website, the company is a "website design/development, graphics and internet marketing company" so iPhone app development is apparently only one aspect of its operations. The current auction consists of "100% ownership" of the company, including its website, content, 1400 iPhone apps, and 100 Android applications. No mention whatsoever is made of Apple's decision to terminate its relationship with Khalid Shaikh and withdraw all of his apps from the App Store.

Article Link: Banned App Store Developer Auctioning Off Business

thegoldenmackid · Aug 5, 2009, 11:06 AM

Do they take PayPal. I cannot imagine Apple somehow approving it again.

jessica. · Aug 5, 2009, 11:08 AM

Because investing in a defunct company is always a good idea.

optophobia · Aug 5, 2009, 11:09 AM

Quote:

Originally Posted by thegoldenmackid

Do they take PayPal. I cannot imagine Apple somehow approving it again.

No, they only accept itunes payment

DrJason · Aug 5, 2009, 11:22 AM

What a joke.....asking price of $1M to 10M is a HUGE range and business is only generating $10K to $50K in revenue

BTW, anybody that is considering purchasing this business should contact me about some beautiful land in central Florida and I have a great bridge in NYC for sale

fhall1 · Aug 5, 2009, 11:28 AM

Quote:

Originally Posted by DrJason

What a joke.....asking price of $1M to 10M is a HUGE range and business is only generating $10K to $50K in revenue

BTW, anybody that is considering purchasing this business should contact me about some beautiful land in central Florida and I have a great bridge in NYC for sale

c'mon give them a break...that's $10K to $50K of fictitious revenue PER MONTH!

rdowns · Aug 5, 2009, 11:32 AM

Quote:

Originally Posted by DrJason

BTW, anybody that is considering purchasing this business should contact me about some beautiful land in central Florida and I have a great bridge in NYC for sale

Why are you selling? Do you have pics?

rlmccormick · Aug 5, 2009, 11:55 AM

That description is far too amateurish to be written by a company that supposedly has experienced executives. Do they really think they are going to attact a bid with that posting?

SFStateStudent · Aug 5, 2009, 12:12 PM

I would hope that he diversified some of that suspect income.....

Just wondering if he'll take Western Union or a bank/travelers cheque....

jb510 · Aug 5, 2009, 12:24 PM

It's not THAT bad people... this is a guy who has built a software development network for mobile platforms that he is selling. That network represents more than just iPhone and does have value... the PROBLEM is there is no discussion of any pending legal actions against the company, any smart buyer would pursue that in their due diligence, but this is a far cry from buying a bridge in Brooklyn.

kisbys · Aug 5, 2009, 12:30 PM

loving how they get $5 of revenue for every $1 spent great (supposedly) margins (nothing to do with them) sounds like the american dream, or possibly a little money laundering

Doctor Q · Aug 5, 2009, 12:33 PM

Hey, I know how to make money fast: I'll buy his business and then immediately turn around and sell it for twice as much!

Since people were willing to buy useless apps, there must be people willing to buy a business that can no longer function, right?

uberamd · Aug 5, 2009, 12:36 PM

10,000 apps by the end of the year? So they will basically be the developers behind 1/6th of all apps in the App store? GOOD developers spend a year making one or two quality apps.

Shasterball · Aug 5, 2009, 12:38 PM

Umm, I think it's a little too late buddy now that everyone knows Apple will not be accepting any more apps from your business and has pulled all your current apps.

MarkAK · Aug 5, 2009, 01:11 PM

Typical foreign business tactics............

I hope he receives nothing.

Scooterman1 · 09:19 AM

And he'll try to blame Apple for costing him between 1 & 10 million dollars.

BUSINESS FOR SALE. 1400 recompliled Apps for the Palm Pre, AND MS Mobile 6.5.....
Anyone interested?

HyperZboy · Aug 5, 2009, 01:14 PM

Quote:

Originally Posted by jb510

It's not THAT bad people... this is a guy who has built a software development network for mobile platforms that he is selling. That network represents more than just iPhone and does have value... the PROBLEM is there is no discussion of any pending legal actions against the company, any smart buyer would pursue that in their due diligence, but this is a far cry from buying a bridge in Brooklyn.

What are you smoking? The man has NO iPhone apps anymore. Apple yanked them all!

This auction of the business including iPhone apps constitutes FRAUD and this man should be going to jail!

arn · Aug 5, 2009, 01:19 PM

just to clarify

he was trying to sell before Apple banned him.

arn

Scooterman1 · Aug 5, 2009, 01:23 PM

Quote:

Originally Posted by arn

just to clarify

he was trying to sell before Apple banned him.

arn

It's kind of sad that he built a business, and couldn't sell. However, we don't know the circumstances around why he wanted to sell. After all of the correspondence Apple claims to have sent him, he may have seen this coming. Or, seen litigation coming.

It is good that no one bought it, and had this happen right after buying.

bmclemons · Aug 5, 2009, 01:27 PM

This whole thing sounds like fraud to me.. If he stated 5 employees and now has a lot more in a short amount of time. Frankly, it very suspect oriented. Pay a $5k deposit just to discuss it? Sorry... but honestly this whole thing pops up a ton of red flags for me!

wolfshades · Aug 5, 2009, 01:54 PM

Betcha he has a rich dead uncle in Nigeria as well, with no place to send his million dollar estate. What to do...what to do.....

akacaj · Aug 5, 2009, 01:56 PM

One of those 1400 apps is a ripoff of my app iFight. He sold it for $5. Just checked the app store and it is gone. Had I known that this is what he was doing I would hate complained to Apple a long time ago. I have seen an increase in sales as of last week I wonder if that is when his apps got taken down.

sishaw · Aug 5, 2009, 01:57 PM

This whole episode is a business case for the old saying, "if it seems to good to be true, it is!"

Dmac77 · Aug 5, 2009, 02:07 PM

I just love the whole "$5,000 for specifics about the company"

Don

akutad · Aug 5, 2009, 03:54 PM

Boy do I have a deal for you!! I have some swamp land if anyone is interested for $500K and ohhh yeah,... I have an ice factory in Alaska for $1.2M.

Aug 5, 2009, 11:04 AM	#1
MacRumors macrumors bot Join Date: Apr 2001	Banned App Store Developer Had Been Trying to Auction Off Business Yesterday we reported on a MobileCrunch story> about developer Khalid Shaikh, whose developer status was terminated by Apple over third-party intellectual property complaints, resulting in the removal of all of his apps from the App Store. Shaikh had several hundred apps under his name in the App Store, many of which seemed to simply pulled data on a specific subject from the web without providing any other original or unique content. Additional information has come to light about Shaikh showing that he has been attempting to sell Perfect Acumen, the business entity responsible for the development of his apps, for some time now. On Flippa.com, his auction is titled "1400 iPhone Applications for Sale" with the most recent listing date as July 2. Although all of the apps he previously had in the App Store were listed under his name alone, the details within this auction reveal that the apps were the products of Perfect Acumen. The auction is still active and shows no offers pending or accepted. Previous auction listingsshow an interesting trail of information for the business, with the first auction in January indicating that the business had 5 employees and earned $1800 per month in revenue, all the way to the current listing that states the business has 60 employees with revenue between $10,000 and $50,000 per month. Shaikh also reveals in this listing that headcount is expected to increase to "120 to 240" by the end of this year and that they plan to have over 10,000 apps within this same time frame. According to Perfect Acumen's website, the company is a "website design/development, graphics and internet marketing company" so iPhone app development is apparently only one aspect of its operations. The current auction consists of "100% ownership" of the company, including its website, content, 1400 iPhone apps, and 100 Android applications. No mention whatsoever is made of Apple's decision to terminate its relationship with Khalid Shaikh and withdraw all of his apps from the App Store. Article Link: Banned App Store Developer Auctioning Off Business
	0

Aug 5, 2009, 11:06 AM	#2
thegoldenmackid macrumors 604 Join Date: Dec 2006 Location: Plano, TX/Winston-Salem, NC	Do they take PayPal. I cannot imagine Apple somehow approving it again. __________________ halfwheel
	0

Aug 5, 2009, 11:08 AM	#3
jessica. macrumors Nehalem Join Date: Feb 2005 Location: Wrong girl from the right side of the tracks	Because investing in a defunct company is always a good idea. __________________ Because I'm an ahole.
	0

Aug 5, 2009, 12:12 PM	#9
SFStateStudent macrumors 604 Join Date: Aug 2007 Location: San Francisco California, USA	I would hope that he diversified some of that suspect income..... Just wondering if he'll take Western Union or a bank/travelers cheque.... __________________ MBP 2.5GHz 640GB 4GB RAM Mac Pro iPhone 4S iOS 5 Black 64GB AC+ NEW iPad Apple TV 2G
	0

Aug 5, 2009, 12:33 PM	#12
Doctor Q macrumors god Join Date: Sep 2002 Location: Blood Donation Center	Hey, I know how to make money fast: I'll buy his business and then immediately turn around and sell it for twice as much! Since people were willing to buy useless apps, there must be people willing to buy a business that can no longer function, right? __________________ I support the MacRumors Blood Drive!
	0

Aug 5, 2009, 11:22 AM	#5
DrJason macrumors newbie Join Date: Jul 2008	What a joke.....asking price of $1M to 10M is a HUGE range and business is only generating $10K to $50K in revenue BTW, anybody that is considering purchasing this business should contact me about some beautiful land in central Florida and I have a great bridge in NYC for sale
	0

Aug 5, 2009, 11:55 AM	#8
rlmccormick macrumors regular Join Date: Jun 2008	That description is far too amateurish to be written by a company that supposedly has experienced executives. Do they really think they are going to attact a bid with that posting?
	0

Aug 5, 2009, 12:24 PM	#10
jb510 macrumors regular Join Date: Sep 2007	It's not THAT bad people... this is a guy who has built a software development network for mobile platforms that he is selling. That network represents more than just iPhone and does have value... the PROBLEM is there is no discussion of any pending legal actions against the company, any smart buyer would pursue that in their due diligence, but this is a far cry from buying a bridge in Brooklyn.
	0

Aug 5, 2009, 12:30 PM	#11
kisbys macrumors regular Join Date: May 2009	loving how they get $5 of revenue for every $1 spent great (supposedly) margins (nothing to do with them) sounds like the american dream, or possibly a little money laundering
	0

Aug 5, 2009, 12:36 PM	#13
uberamd macrumors 68030 Join Date: May 2009 Location: Minnesota	10,000 apps by the end of the year? So they will basically be the developers behind 1/6th of all apps in the App store? GOOD developers spend a year making one or two quality apps. __________________ My Rants - Latest: Android on the 1st gen iPod Touch i7 rMBP 15" - Apple TV Classic 160GB Modded - iPhone 5 White - iPhone 4 Black
	0

Aug 5, 2009, 12:38 PM	#14
Shasterball macrumors 6502a Join Date: Oct 2007	Umm, I think it's a little too late buddy now that everyone knows Apple will not be accepting any more apps from your business and has pulled all your current apps.
	0

Aug 5, 2009, 01:11 PM	#15
MarkAK macrumors newbie Join Date: Jul 2009	Typical foreign business tactics............ I hope he receives nothing.
	0

Aug 5, 2009, 01:13 PM	#16
Scooterman1 macrumors 6502a Join Date: May 2008 Location: Houston, Tx	And he'll try to blame Apple for costing him between 1 & 10 million dollars. BUSINESS FOR SALE. 1400 recompliled Apps for the Palm Pre, AND MS Mobile 6.5..... Anyone interested? __________________ --i-------------- ---P---3-------- ----h---2---3--- -----o---G---G-- ------n---B---S-- -------e--------- Last edited by Mitthrawnuruodo; Aug 6, 2009 at 09:19 AM. Reason: Merging, please use EDIT to add to a post...
	0

Aug 5, 2009, 01:19 PM	#18
arn macrumors god Join Date: Apr 2001	just to clarify he was trying to sell before Apple banned him. arn
	0

Aug 5, 2009, 01:27 PM	#20
bmclemons macrumors newbie Join Date: Sep 2007 Location: San Francisco, Caifornia	Fraud! This whole thing sounds like fraud to me.. If he stated 5 employees and now has a lot more in a short amount of time. Frankly, it very suspect oriented. Pay a $5k deposit just to discuss it? Sorry... but honestly this whole thing pops up a ton of red flags for me!
	0

Aug 5, 2009, 01:54 PM	#21
wolfshades macrumors Demi-God Join Date: Nov 2007 Location: Toronto, Ontario Canada	Betcha he has a rich dead uncle in Nigeria as well, with no place to send his million dollar estate. What to do...what to do.....
	0

Aug 5, 2009, 01:56 PM	#22
akacaj macrumors regular Join Date: Dec 2008 Location: NY	One of those 1400 apps is a ripoff of my app iFight. He sold it for $5. Just checked the app store and it is gone. Had I known that this is what he was doing I would hate complained to Apple a long time ago. I have seen an increase in sales as of last week I wonder if that is when his apps got taken down. __________________ Tingalin, iFight Pro, Jersey Shore iPhone App and of course I had to do a Real LED Flashlight for iPhone 4 app.
	0

Aug 5, 2009, 01:57 PM	#23
sishaw macrumors 65816 Join Date: Jan 2005	This whole episode is a business case for the old saying, "if it seems to good to be true, it is!"
	0

Aug 5, 2009, 02:07 PM	#24
Dmac77 macrumors 68020 Join Date: Jan 2008 Location: Michigan	I just love the whole "$5,000 for specifics about the company" Don __________________ The Electronic Frontier Foundation
	0

Aug 5, 2009, 03:54 PM	#25
akutad macrumors regular Join Date: Jul 2008 Location: London, Ontario, Canada	Boy do I have a deal for you!! I have some swamp land if anyone is interested for $500K and ohhh yeah,... I have an ice factory in Alaska for $1.2M. __________________ 15" Aluminum MacBook Pro (Penryn), 2.5 GHz, 2GB RAM, 250GB HD; 8GB iPhone 3G Wisdom Begins in Wonder - Plato
	0

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