SAN JOSE, Calif., July 28, 2016 (GLOBE NEWSWIRE) -- Apigee, the API company, today announced that the Apigee Edge API management software delivers new capabilities to help businesses monetize API programs with a wider ecosystem of API users, from individual app developers to large enterprise customers. Apigee Edge now supports enterprise-grade API monetization models appropriate for large enterprise customers that may have complex on-boarding logistics from legacy vendor systems, customized contracts, and massive API volumes.
“APIs have become a competitive advantage for many enterprises, such as MapQuest. Finding the right API commerce solution is important for all companies to deliver more effective and lucrative business models for their API ecosystems, as we identified while working with MapQuest. Models like revenue sharing or pay-by-performance can go a long way in attracting and keeping developers, and we are now extending our monetization capabilities to serve the requirements of big businesses consuming APIs,” said Anant Jhingran, Apigee CTO.
API Monetization: No One-Size-Fits-All
Apigee Edge’s API monetization capabilities are designed to help companies maximize the business value and foster rapid growth of their digital programs. With Apigee, customers can manage the end-to-end process of monetizing APIs – including creating rate plans, managing limits and notifications, configuring reports and billing documents, and delivering a developer portal to maximize API program value.
With the enhancements announced today, the monetization capabilities in Apigee Edge enable businesses to deploy API commerce solutions appropriate for companies with complex business-to-business (B2B) business models. Key new monetization capabilities in Apigee include:
- Partner and API traffic on-boarding: This new capability enables Apigee customers to move traffic from existing in-house and legacy vendor systems with little to no downtime, easily transfer previous API usage state, and expose monetized API traffic on Apigee.
- Custom rate plans: This feature provides a simple interface to enable companies to manage API rate plans with custom properties, such as API quotas shared by multiple developers within the same company.
- Generic notifications with guaranteed delivery: With Apigee’s new Webhook-based notifications feature, customers can set up automatic delivery of rate plan limit notifications to their in-house notification systems. Users can register an in-house notification system with Apigee, and notifications will be delivered and retried for delivery in case of network issues.
MapQuest Extending Value of its APIs with Apigee Monetization
MapQuest, one of the most recognized mapping brands, benefits from a large ecosystem of software developers, from businesses big and small, that use its APIs to build and run apps that use MapQuest data, such as its geolocation and mapping services.
Apigee Edge and the Apigee Edge monetization capability have helped MapQuest better manage their B2B business. Apigee Edge has enabled MapQuest to offer their products via a virtual, self-service storefront. They can now more effectively manage and cater to a wider range of customers with varying needs, regardless of application type, user base, or stage of development.
The monetization capability in Apigee Edge appealed to MapQuest's enterprise-level customers. With the ability to customize their interaction with the platform, MapQuest has created an improved customer experience by quickly serving pertinent information to customers regarding their contracts. Now all of MapQuest’s API traffic passing through Apigee is automatically analyzed for the appropriate micro-charge stipulated by the customers’ contract. Enterprise customers receive email notifications once they've reached a specified percentage of their contract quota, giving them the tools to make decisions about their usage and contract needs and making for a better overall customer experience. Internally, MapQuest is now able to make better, data-driven decisions based off of the traffic they send through Apigee.
“API ecosystems are getting bigger, more complex and more business-critical,” said Jennifer Kinney, chief technology officer and vice president of engineering at MapQuest. “It’s important that businesses have the freedom to deploy many different ways to orchestrate value creation through APIs. Apigee’s monetization capabilities provide the flexibility and agility to allow API providers to quickly determine and execute on the right business strategy for their digital initiatives.”
The Apigee Edge platform is an enterprise-grade API management platform that empowers organizations like MapQuest to securely deliver and manage APIs and API traffic at scale. In addition to API monetization, Apigee Edge includes comprehensive API management capabilities including API gateway, developer portal, analytics, multi-tenancy support for high scale, and much more.
The Apigee Edge API management software is part of Apigee’s enterprise-grade API platform, which also includes Apigee Insights, an API-based, self-service predictive analytics solution; Apigee Link, an API-first Internet of Things (IoT) product for connecting devices to the Internet; and Apigee Sense, an intelligent API security product.
Apigee® (NASDAQ:APIC) provides a leading API platform for digital business. Many of the world's largest organizations select Apigee to power their digital business, including 33 percent of the Fortune 100, four of the top five Global 2000 retail companies, and five of the top 10 global telecommunications companies. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. Apigee is headquartered in San Jose, California.
Safe Harbor Statement
This press release contains forward-looking statements, including statements regarding the launching of and planned functionality, adoption and implementation of products developed by Apigee; the potential future customer benefits of using Apigee technology; the market adoption of digital technologies; planned customer adoption and implementation of Apigee’s products; and potential future customer opportunities and opportunities between Apigee and MapQuest. These forward-looking statements are based on current expectations and are subject to inherent uncertainties, risks and changes in circumstances that are difficult or impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks and changes in circumstances, including without limitation risks and uncertainties related to market adoption of digital technologies, the ability of Apigee’s software to meet its customers’ needs, the quality of Apigee’s software, support and services and related infrastructure capacity and any incorrect implementation or use of Apigee software.
The foregoing list of factors is not exclusive. Additional risks and uncertainties that could affect Apigee’s financial and operating results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Apigee’s Quarterly Report on Form 10-Q filed with the SEC on May 27, 2016. Apigee’s SEC filings are available on the Investor Relations section of the Company’s website at http://investors.apigee.com and on the SEC's website at www.sec.gov. Apigee disclaims any obligation to update the forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
MapQuest, an innovator in the digital mapping industry, continues to be one of the leading mapping brands, reaching more than 42 million multi-platform users around the world.* We enable everyday explorers to find, learn about and locate their desired destinations and we work with businesses to build great location-based experiences. We work with our clients to provide access to innovative products and solutions to help them address rapidly changing demands and trends. MapQuest, Inc., a wholly owned subsidiary of AOL Inc., is based in Denver, Colo. For more information, please visit http://www.mapquest.com or https://developer.mapquest.com. Join the conversation on Twitter (@MQDeveloper).
*According to comScore Multi-Platform Worldwide Audience Custom Report, Avg. Jan15-Dec'15
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