Although the name Backflip Studios might not be immediately recognisable, most every iPhone and iPod touch owner will know its games: Ragdoll Blaster, Paper Toss and Harbor Havoc 3D.

These three budget priced games have taken the Colorado-based studio to high-flying success inside of a year, with VentureBeat reporting that Backflip Studios has tallied up around $1.75 million from ad-funded games and virtual goods.

"Sales come and go in spikes," explained chief executive of Backflip Studios Julian Farrior. "But ad revenue is steady and I can build a business on that."

Farrier found his way to the iPhone after becoming an investor at app maker Earthscape; a venture he undertook after seven years in management at Yahoo. Seeing the massive potential in iPhone development, he set up Backflip Studios in April 2009, and has seen over 13.5 million downloads of his games inside of six months.

Backflip is set to double its workforce to 12 people in 2010, and expects success to grow with Ragdoll Blaster 2 on the slate for January.