For those of you who don’t know, for the last 6-7 months I’ve been working on a Facebook application called Honesty Box. Honesty Box lets users on Facebook send each other anonymous messages and replies knowing that there’s a level of protection built in that reduces the likely-hood of spam because of the close nature of the social network. Dan Peguine, a co-founder, hired me to assist him and his partner in June with the explosive growth of the application and I’ve been working on it ever since. Adonomics is currently the benchmark by which applications can guestimate their worth in the marketplace. Of course this estimate and finding a buyer are two different things, but it’s an important gauge of the applications value. We have been tracking our “worth” through Adonomics for a while and have seen some interesting phenomena. Today when I checked our valuation, we were at $6.2 Million!
Honesty Box has been an interesting project to work on because of it’s growth. Each day, we have traffic that rivals some smaller dot com sites and we only exist in a small ecosystem known as Facebook. This was all due to their opening up their developer Platform for everyone to build applications. If you were lost by my OpenSocial rant a few weeks ago, Facebook allows anyone who wants to, to create an application and let it live within their website. It requires minimal skills to get started - but you have to have a good idea. This is a huge shift in the way websites are built and how they aggregate user data. During the first few weeks of the application being live, over 1,000,000 users signed up to use Honesty Box. We now have over 4M users, with over 250K of them visiting the application each day.
Tags: adonomics, code, facebook, honesty box, opensocial, platform, value
A sad bit of news, Adonomics has lowered the value of HB back to the 2M ($2,107,650) mark again. Must have been a bug in their system somewhere.