AppBank is a new startup company founded and funded privately by Fred Hsu, a founder of domain services company, Oversee.net. AppBank is a social media quiz generation platform that operates on Facebook, allowing its users to create quizzes to pass along virally through the social media platform.
Although the company has two competitors, it is different because it has a revenue sharing model, giving its users the opportunity to generate revenue from their quizzes, which is something competitors do not allow. The company’s homepage highlights the amount of money some of the top users are making, which is sure to entice people into creating more quizzes.
I always wondered if it was possible for these quiz companies to generate revenue by selling user data to third party companies. Perhaps these companies could create quizzes to test new products or services offerings in lieu of – or in addition to consumer focus groups.
It’s always interesting to check in on people who have left the industry see the new and exciting things that are happening with them in business.
Thanks to Donna Mahony for sharing the article about the company. The company also received coverage in today’s Wall Street Journal.