CEO and co-founder, Jeff Smith, on expanding Smule’s business model In the fourth month after launching its first product, Smule, a maker of popular iPhone apps, was only supposed to make $30,000 in revenue. Or so, CEO and co-founder Jeff Smith thought. Instead, the company brought in $300,000. The estimated goal for 2009 revenue was $1.4 million, and already Smith is confident Smule will easily beat that expectation. That's especially when the company starts charging its nearly 1.5 million users for more goods "within the application," in the next 30 days, said Smith. Smule, best known for turning the iPhone into a wind instrument through its popular game called the Ocarina, currently charges users an upfront application fee of $1, for an all-you-can-eat experience.In this segment, we talk about Smule's ...   [ Read more ]