Why the iLike Facebook application is worth $287 million

Stuart Dredge Web 2.0

logbook.jpgStill think Facebook applications are just novelty widgets with no intrinsic value? Think again. A developer has just sold on eBay his Logbook application (pictured), which lets people catalogue their music, films and books and make money from Amazon sales.

The winning bid was £2,550, which doesn’t sound like much until you have a look at the application’s page on Facebook, and see it’s only got seven active users. That’s $364 per user, in other words.

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Facebook application iLike poses threat to MySpace

Katherine Hannaford Web 2.0

facebook-ilike.jpg Someone get Rupert Murdoch on the phone quick-smart! It appears that the Facebook application iLike has surpassed MySpace in regards to the number of fans/friends individual musicians have.

By far the most popular application on the social-networking site, iLike has eight million users on Facebook, with about 10% of that number using the application each day. Artists such as Kayne West and Nickelback reportedly have a vast…

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