Long-time software entrepreneur Lee Lorenzen had an epiphany when he heard about the first company being built on the back of Facebook.
“When I heard about iLike, it dawned on me,” Lorenzen said. “This is a complete greenfield opportunity.”
Although his VC/incubator Altura Ventures was not a Facebook F8 launch partner, Lorenzen immediately shifted the focus of the Altura 1 VC fund and its portfolio companies squarely on Facebook.
The new vision for Altura, Lorenzen says, is to provide funding, technical assistance, product guidance, and monetization tools for application developers not keen to sell out early like some have.
Lorenzen believes developers will realize much greater value by developing their products and monetizing through ad networks than selling out at low per-user prices now.
As such, Altura Ventures recently acquired Appaholic, the application tracking service built by Jesse Farmer (former contributing author to InsideFacebook) (not to be confused with SocialMedia’s Appsaholic), and brought Farmer in house to further develop the service. It’s an important part of a bigger effort by Altura called Adonomics, which will provide a suite of monetization and measurement tools for application developers.
Adonomics promises not only a simpler way for developers to buy installs (it will negotiate deals with ad networks and publishers on a CPM, CPC, or CPI basis and simply charge developers CPI), but also an integrated dashboard to measure user engagement post-installation.
After generating new user installations, Adonomics will tell developers how many of those users subsequently uninstall their application, and how many times they are coming back to the canvas page. The goal is to provide better measurement of the value of generated leads so as to allow developers to make more informed buying decisions.
“You can think of Adonomics like a meta ad network,” Lorenzen said.
Time will tell whether Altura/Adonomics can deliver better advertising ROI metrics to developers. The service is currently in alpha and will be expanded to more developers in the coming weeks.
One thing’s for sure – it’s exciting to see new tools for developers and entrepreneurs as the Facebook arbitrage market forms.