Tuesday, September 29, 2009

Crowdsourcing: Startup Hopes To Shake Up DYI Facebook App Market By Sharing Ad Revenue

A new startup thinks it can take a slice of the booming make-your-own Facebook app market with a seemingly simple strategy: Pay users to create apps. AppBank, which launches today, gives users a cut of the ad revenue generated from the ads that surround the basic polls and quizzes they build...Hsu, along with a partner, started Oversee.net nine years ago and then sold some of their holdings in the company to Oak Hill Capital Partners for $150 million a year-and-half ago. He’s funding AppBank with his own cash; the startup currently has six full-time employees. The plan is to eventually expand to include other social networks and also let users create more sophisticated apps. “We acknowledge that quizzes and games and gifting apps are sort of the fad,” Hsu says. “(We want to be on top of the) next series of popular apps that end users can crowdsource themselves.”
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