Etymology
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developer (n.)

1833, "one who or that which develops," agent noun from develop. Photography use in reference to the chemical bath used to bring out the latent image is attested from 1869; meaning "speculative builder" is by 1938.

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Definitions of developer

developer (n.)
someone who develops real estate (especially someone who prepares a site for residential or commercial use);
developer (n.)
photographic equipment consisting of a chemical solution for developing film;
From wordnet.princeton.edu