MFSoftware: A year in the life of a bootstrapped mobile applications company – with founder Matthew Formica

What’s the difference between a funded mobile company and a bootstrapped one? Fundamentally, not much except for one clear and very important feature: The business model – more specifically, the revenue model.

This is my second episode with Matthew Formica of MFSoftware – the last being just about a year ago right after he launched his 12th iPhone application. A year later his pace has slowed as his approach has matured and is now focusing on creating new applications that have tangible value for users and honing in on the appropriate business models that can sustain his company.

His latest application is called iStockPicks and is a freemium app that helps you pick and trade stocks and we discuss his thinking behind the model, the opportunity and the feedback he’s had. We also look back over the previous year in the life of a 9pm-5am entrepreneur in the mobile world, discussing marketing tactics and techniques (what worked and didn’t work), what revenue models are working and lessons he’s learned by doing.

Always a great and informative session, Matthew’s insights are valuable to the mobile application community.


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About Matthew Formica

Matthew Formica
Matthew Formica has been involved in the mobile industry since the iTunes App Store launched, but has been programming far longer than that. He started programming in BASIC and 6502 Assembly for the Apple IIc+ when he was 9 years old, and after graduating with a computer science degree, went to work for Apple.

Many software developers will be familiar with Matthew’s work at Apple – his job in developer relations as “Software Evangelist” made him a spokesperson for Apple Engineering, helping guide developers through the “Intel Inside” Macintosh transition. Having learned software development the Apple way, it was only natural that Matthew would take up iPhone app development upon leaving Apple to get his MBA at NYU Stern. His “Stock TickerPicker” iPhone app launched in September 2008, and continues to have an active following to this day. Since then, his company, “MF Software,” has released nearly a dozen applications, mostly finance related.

Now employed as a project manager at Intel, Matthew writes iPhone apps nights and weekends to supplement his income. Several more iPhone apps are in the pipeline, and all of MF Software’s products can be found at, or on Twitter at

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About the author

Rob Woodbridge

I'm Rob, the founder of and I've spent 14 years immersed in the mobile and pervasive computing world. During this great time I've helped some of the most innovative companies grow their business through mobile. If you are in need of a mobile business advisor or coach, connect with me here to get things rolling.

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