Lots of people are talking about the rumor that TripAdvisor has acquired the Facebook application “Where I’ve been” for a whopping $3 million dollars! It hasn’t been confirmed quite yet, but it’s likely to be true. Why is it such a big payday? Well, considering that the app made it’s grand entrance on Facebook around June 8th, developer Craig Ulliott has then made about $43,000 each day his app has been available. Not too shabby!
So now why would TripAdvisor be willing to acquire a Facebook application when they have their own app that pretty much does the same thing? Well, their own application is called “Cities I’ve Visited” which has significantly less users than “Where I’ve Been.” Essentially they decided it would be worth it to buy-out the competition which has 2.3 million users, and slap their brand on it.
Should this rumor end up being true, I think a lot of developers are going to be trying to do the same thing as Craig Ulliott has done, and develop a great app that would eventually make them worthy of a nice payday too. He’s given people hope that they too can make an easy million dollars. I still don’t see how TripAdvisor thought that the application was worth $3 million, so I’ll be curious to see if their purchase ends up being worth more than what they paid for it, and if we’ll see other Facebook apps sell to larger companies as well.