Tuesday, July 10, 2007

Red Herring: Facebook Gold Rush AND Facebook pimping out CrudWare

"Sensing opportunity on the social media frontier, Bay Partners is planning to formally launch a program Wednesday to fund software coders who can push out applications that ride on the back of the newly open Facebook platform.

The venture capital firm, based in Menlo Park, California, has cobbled together a business plan that calls for “tens” of investments in the $25,000 to $250,000 range—far lower than the typical early-stage venture round of several million dollars and up.

Though other venture programs like HitForge, backed by VC and entrepreneur Navil Ravikant, have moved toward a studio model by making small investments to jumpstart Web 2.0 companies, Bay Partner’s “AppFactory” is unusual in that it focuses explicitly on the Facebook platform. Facebook in May opened up its interface to third-party developers to write mini-applications, such as slideshows and video players, for users who want to deck out their profiles."

Pimpware article:

Facebook has become the latest website to be found pushing services that deliver highly deceptive security warnings designed to trick users into buying software.

Purveyors of this scam are making use of Facebook Flyers, small ads that get posted on Facebook pages associated with a specific region. At 5,000 impressions for just $10, it's a bargain.

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