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macrumors bot
Original poster
Apr 12, 2001
56,581
19,330


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
 

DrJason

macrumors newbie
Jul 2, 2008
8
0
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

macrumors 68040
Dec 18, 2007
3,633
1,001
(Central) NY State of mind
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

macrumors Penryn
Jul 11, 2003
27,397
12,514
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

macrumors regular
Jun 7, 2008
120
5
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?
 

jb510

macrumors regular
Sep 19, 2007
166
9
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

macrumors regular
May 31, 2009
163
0
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

Administrator
Staff member
Sep 19, 2002
39,154
5,908
Los Angeles
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

macrumors 68030
May 26, 2009
2,785
1
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.
 

Shasterball

macrumors 6502a
Oct 19, 2007
973
210
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.
 

Scooterman1

macrumors 6502a
May 15, 2008
939
12
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?
 

HyperZboy

macrumors 65816
Feb 7, 2007
1,086
1
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

macrumors god
Staff member
Apr 9, 2001
16,299
5,569
just to clarify

he was trying to sell before Apple banned him.

arn
 

Scooterman1

macrumors 6502a
May 15, 2008
939
12
Houston, Tx
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

macrumors newbie
Sep 11, 2007
17
0
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!
 

akacaj

macrumors regular
Dec 21, 2008
227
0
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.
 

sishaw

macrumors 65816
Jan 12, 2005
1,147
19
This whole episode is a business case for the old saying, "if it seems to good to be true, it is!"
 
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