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Facebook Apps Market Develops

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[ Social Media]

It’s interesting to see that a market for Facebook applications — or widgets — is developing, although the prices are still small. In one of the latest transactions, Inside Facebook notes that Slide.com (run by PayPal co-founder Max Levchin) has bought the app Favorite Peeps for a reported $60,000. Another site, FaceWatch, has also written about the purchase.

Facebook Apps

Favorite Peeps apparently has over one million users and was developed by Dennis Rakhamimov, a software engineer at a company funded by Peter Thiel — another PayPal co-founder, who is also an investor in Facebook. Inside Facebook notes that the deal values each user at less than five cents, compared with the $25 per user paid by Viacom for the Xfire gaming site and the $36 per user paid by News Corp. for MySpace. Another Facebook app, Extended Info, was recently bought by a travel company called SideStep — although no purchase price was disclosed. The creator of the app, Trey Philips, just finished his third year of university and said he put the widget together in a few hours at the Facebook F8 hackathon. Within days it had 60,000 users. VentureBeat has also noted the rise of the Facebook app-buying market.

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