Can you say "Facebook bubble"?

Wow. That’s all I can say. Inside Facebook says that TripAdvisor has bought the “Where I’ve Been” app for Facebook for a massive $3-million — which works out to about $1.30 for every one of the widget’s 2.3 million users (and I use that term loosely). As the site notes, that’s about 30 times what Slide paid for the “Favourite Peeps” app a couple of months ago.

Pete Cashmore at Mashable says that works out to about $43,000 for developer Craig Ulliot for every day that his app has been in existence. Not bad. Just a little while ago, Andrew Chen wrote a blog post in which he pondered how an app like Ulliot’s might monetize its users — I guess he just got his answer.

Peter Kafka of Silicon Valley Insider says that the price paid for Where I’ve Been might not be all that insane after all, depending on what TripAdvisor does with it, and Phil Sim of Squash says flipping is nothing to be ashamed of.

Update:

This appears not to be happening. Inside Facebook has a (brief) update here.

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About mathewi

I'm the chief digital writer at the Columbia Journalism Review in New York, and a former writer for Fortune magazine and the Globe and Mail newspaper.