AppBank: Learn to make money as a social networking pro |
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Mass High Tech
AppBank: Learn to make money as a social networking pro
Want to make a little money on Facebook? If so, a new startup may have a pitch for you.
AppBank today is releasing a way for everyday Facebook users -- college students, stay-at-home-moms and others -- to create and publish polls, quizzes, games and other social networking applications.
And here's the best part. If a quiz, test or game goes viral, AppBank shares a portion of the ad revenue with the content creators. Or, as the company says in its promotional materials: "With AppBank, you turn your spare time into "Cash Time" by creating content your friends and Facebook users can engage with."
That means you can now become a professional social networker of sorts.
Of course, scoring a Facebook hit is no easy task. Just as most iPhone applications never see the light of day, most Facebook content will never hit the mainstream.
But AppBank -- operating in private beta and stealth mode for several months-- says its top content creators are making as much as $769 per month.
For example, recent college grad Jennifer Pinel said she used AppBank to create a Facebook quiz called "What TV Couple Are You?" It took just 30 minutes to create the app, and she's already pulled in a few hundred bucks.
Other top earners include quizzes with names such as "Who is your ideal TV husband?" and "Which pin-up girl are you?" So far, about 3,000 apps have been created in the network.
AppBank -- which is free to use and maintains offices in Seattle and San Francisco -- pays its content creators every two weeks via PayPal. The company makes money by placing highly-targeted ads alongside the user-created apps.
AppBank's founders have bootstrapped the company to date with about $450,000. The company is led by Fred Hsu, who previously founded Oversee.net, a domain name operator that scored $150 million in private equity funding last year.
UPDATE: GigaOm reports that company has been profitable since April with more than eight million Facebook users accessing one of the AppBank apps. Meanwhile, paidContent notes that the company -- targeteing 50 million views a month -- is on track to hit $1.2 million in revenue this year.
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