Rags to Riches

[Wired.com]

The iPhone is a revolutionary handset. But it is also the key to a virtual gold mine — the iTunes App Store, where independent developers can become multimillionaires in just a year.

Since its launch in July, the App Store has grown to become an indie developer’s dream come true. Steve Demeter, developer of the vastly popular $5 iPhone game Trism, announced he made $250,000 in profit in just two months. His team? Himself, mainly, with a little bit of help from a friend and a contracted designer (whom he paid $500). If his profits continue at this rate, Demeter will earn nearly $2 million by July 2009.

“I really didn’t think about the money,” Demeter said in a phone interview with Wired.com. “I got an e-mail from a lady who’s like, a 50-year-old woman who says, ‘I do not play games, but I love Trism.’ That’s what I did it for.”

Read More http://www.wired.com/gadgetlab/2008/09/indie-developer/

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