DERMANDAR The concept: Meaning ‘all around’ in Lebanese slang, Dermandar specializes in digital image technologies. The concept is simple: pictures taken with a normal camera can be turned into a panorama picture within seconds using the online tool that Dermandar has created. It was co-founded in January 2010 by Elie Grégoire Khoury and Elias Fadel Khoury and launched as an iPhone application in June 2011. Sources of revenues: The iPhone application is priced at $1.99 in the Apple store, of which Apple takes 30 percent commission. This revenue now covers five to 10 times Dermandar’s expenses, rendering the company “very cash-flow positive,” according to Khoury. 2011 accomplishment: 1.8 million downloads since the launch of its iPhone application on June 8 2011 (97 percent of Dermandar usage is on the iPhone app and not the website). These downloads are mainly coming from the United States (21 percent of downloads), China (12
