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iSwifter claims to be on course for $10 million 1st year revenue

Flash to iPad streaming tech company also looking to broaden business

iSwifter, which develops technology to stream Flash content to iOS devices via bespoke apps, claims to be well on its way to a $10 million revenue total for its first year of operation.

The claims were made this week by Rajat Gupta, the company's founder, alonside the announcement of several key hirings.

Ajit Mayya, formerly a senior director of engineering at VMWare will lead a team of engineers, including new hires Lucian Masalar, and Pankaj Kumar, in projects designed to expand the companys remit and market reach.

"Ajit has been a key executive at multiple start-ups and his experience at VMware, the technology leader in systems virtualisation with a $40 billion market cap, is going to be totally awesome for us," said Gupta and fellow co-founder Rohan Relan. "With Ajit on board, we are building a world-class engineering team and will broaden the company's streaming offerings beyond Flash applications to become the 'Netflix of Applications.'"

One mainstay of the company's current business is the facilitation of popular Facebook games such as Zynga's Cityville on iPad, which does not support Flash plugins. According to the release accompanying the statement, many users will happily pay to be able to play otherwise free games on the iPad, and are happy to monetise with in-app purchases once they do so.

"Streaming Flash applications for mobile is just the beginning for iSwifter," said Mayya. "Users want instant access to their content and applications regardless of the device they are using: be it music, video or iSwifter based applications streamed over WiFi and 3G/4G networks."