Facebook App Sells $3 Million
An event sure to flood Facebook with new me-too applications, a three-month-old mapping app called "Where I’ve Been" was sold to Trip Advisor for $3 million, according to the blog InsideFacebook.
Justin Smith informs the blogosphere that the application was created and made available to Facebook members just three months ago, but in that time "Where I’ve Been" app creator Craig Ulliott managed to rake in about 2.3 million users.
And that, apparently impressed TripAdvisor, who has not confirmed the acquisition.
If TripAdvisor really did acquire the application, then that could mean there is a solid marketplace at Facebook for developers looking to move beyond the general web into more focused demographics. And focused demographics are valuable to advertisers.
It also means we can foresee the application clutter about to build. Copycatters never miss an opportunity.
But most importantly, don’t you dare say the word "bubble." We’ll file this one under "acceptable product under right market conditions with the right audience and a buyer looking to expand its reach."