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MAT 004: How Kenny McPeek Lost Over $250,000 from His App And Why I Still Think It Will Be a Success!

MAT 004: How Kenny McPeek Lost Over $250,000 from His App And Why I Still Think It Will Be a Success!

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In this session of the Mobile App Tycoon Podcast I talk to Kenny McPeek, a professional horse trainer and developer of the app Horse Races Now.

Kenny’s passion for horse racing led him to create this app for horse racing enthusiasts as well as to get the younger generation interested and involved in the sport!

Unfortunately, Kenny’s journey from idea to final product has been a majorly bumpy one.  His first experience hiring a developer resulted in him being ripped off and given nothing in return.  Lately, he’s been struggling to get approval from top racing tracks to use their video content in his app.

However, through all this Kenny continues to believe in his app…and apparently he’s not the only one!  Horse Races Now has over 20,000 users with 100 more downloading it every day!

In this interview, Kenny will share both his successes and his failures with this app, and how he’s going to turn this app from a financial failure to a success!

In this session you’ll learn:

  • Why Kenny decided to get into app development when he was already a successful horse trainer.
  • How Kenny got ripped off for $45,000 from an app developer that produced NOTHING.
  • How much it cost Kenny to develop his app once he found legitimate developers.
  • Why Kenny compares his development experiences to the explorers, Lewis & Clark
  • What app Kenny would eventually like to model his monetization methods after.
  • How Kenny is going about getting approval from race tracks to use their video content in his app.
  • How Kenny gets 100+ new users every day WITHOUT marketing!
  • Kenny’s advice for choosing app developers.

Right click here to download the MP3

Items mentioned in this podcast:

Kenny’s App in the Webby Awards (link coming soon)

If you are enjoying these podcasts, please take the time to leave me an honest review on iTunes.  Reviews help new people find the podcast as well as give me feedback as to how I’m doing!  Click here to leave a review!


  1. To be honest, I was very disappointed with the last podcast – you featured a kid that a) could not communicate clearly even the basics of his business and b) had the entire business plan based on ripping off other’s ideas and then ripping off his buyers by constantly changing up prices. Sure, that may be a good strategy to make a quick buck (which he has apparently been able to do) but it does not seem to be sustainable over the long run.

    But this time it was the complete opposite – the guy is not after the money – he is doing it truly because he is passionate about what he is doing and is genuinely interested in getting other involved. I couldn’t care less for horse racing myself, but that’s details. His mindset and attitude is what makes me applaud his efforts and I bet those 20k+ users and the contacts he has made while working on the app will really benefit him again and again the future.

    • Hey Dima – I agree with you about Kenny’s passion and how it has really helped him keep moving forward with this app and make it the best it can be. However, I don’t feel the same way you do about Spencer’s business. I definitely don’t think he “rips off” other people’s ideas…as he said in the interview he only goes after an idea if he can improve upon it. That kind of relates back to one of my previous blog posts here: http://www.mobileapptycoon.com/how-to-come-up-with-killer-app-ideas-series-part-2-improve-on-an-existing-idea/ I think Spencer’s strategy can be very easily abused by new developers though if that principle of improving on the idea is not followed though, in which case it probably wouldn’t be sustainable. But the way he teaches it with providing value and improving, it can be sustainable and profitable.

      It’s interesting to compare the two different strategies of Spencer and Kenny though…just goes to show that there are multiple avenues to make money with apps 🙂

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