I am extremely excited to finally be able to announce the official launch of Buddy Media. Wow. That felt amazing to say. This has been 3 months in the making.

Here’s my story and how I got here: I’m an entrepreneur (and husband of 1, father of 3 and artificial heart valve recipient). Starting companies is the only thing I’ve ever really done. I started my first company, U-Wire, as a student at Northwestern University. Soon after graduation, U-Wire was sold to Student Advantage, which became a billion dollar public company before it wasn’t a billion dollar company. U-Wire is now owned by CBS and is under the visionary direction of Ben French.

GOLF.com, my most recent dot com, was sold to Time Inc. in 2006. As part of the sale, I agreed to stay on board for a short period of time. Timing is everything. I put in my time at Time, so to speak, and a few months after I left, F-Day. Facebook launched the platform and I knew I wanted to be a part of it.

I spoke to dozens of developers, investors, content providers and other stakeholders to figure out how I could participate in what I see as one of the most important developments in the internet space since I jumped in in 1994. I also reviewed all of the early apps, and one of the apps caught my eye, Matches. Matches is a simple concept. It helps people connect to people they are attracted to. I saw it balloon in the first few days from zero to several hundred thousand installs (it has since flatlined as the developer, Aryeh Goldsmith, focused on more promising ideas, but it still is used by about 5000 people each day).

I called Aryeh after reading about several of his apps on AllFacebook.com and said we needed to meet. Aryeh agreed, we had breakfast at the French Press on the Upper West Side of NYC. And the rest, as they say, is history. We shared a common vision for creating applications and we decided to go into business together. He builds great technology. Kass and I build great businesses.

Buddy Media’s primary focus is building out AceBucks. AceBucks is the largest underground currency on Facebook. More than 100,000 Facebook users have opened up their AceBucks account with virtually no marketing. And the application isn’t even close to where we need it to be (details to be launched and announced shortly).

The idea behind AceBucks is simple. AceBucks is a Facebook-wide currency that lets you earn money by doing things you already do. This includes adding applications, taking surveys, playing games, referring friends, opening up a store and selling your goods and services and much more. Once you have earned ‘em, you can burn ‘em by buying all sorts of virtual and real goods and services. You can go to the Acebucks Mall and buy a virtual car for your buddy or a massage or jewelry for your girlfriend. You can bid on real items. AceBuckers have already bought iPhones, iPods, gift certificates, stereos and much more. Starting in the next week, you will be able to buy stuff from other AceBuckers who open their own shops on AceBuck. AceBucks is the currency that makes peer-to-peer commerce possible.

AceBucks will be a central part of the engagement of Facebook in the future. I have no doubt. It is a currency that, although virtual, makes a ton of great things work and happen. When you start to think about it, the ideas are endless and we plan to launch a powerful API shortly that lets app developers tie into the currency. (If you have an app, please call. Let’s talk about ways we can make your app better.)

What I’m most excited about with Buddy Media is the team I am lucky enough to work with. First, and foremost, my wife, Kass, who as COO will handle all operations. I’ll never forget the investor questions before we launched our first company together, GOLF.com. We were young (mid 20s), still dating (though she did have a worldwide exclusive right at the time) and about to launch a company together. There was significant push back. Not usually the best formula for success, we were told. Nonetheless, we’ve seen significant success together and work really well as a team. I focus primarily on partnerships, sales and all things revenue generating. Kass focuses on making sure the business runs smoothly. All businesses need both to be successful and I am lucky to have found that person in my wife and best friend.

Next, Aryeh Goldsmith. I knew he was onto something when I first saw his applications. He is a killer programmer, has a wonderfully creative mind and is an all-around likeable and knowledgeable techie. Just ask anyone who has attended the Facebook Hackathons. Aryeh is now Buddy Media’s CTO.

Hailing from Madison, Wis., and signing up for her fourth tour of duty with me, is Analisa Rudy. Ana was our first hire at GOLF.com. She is one of the most productive and detail-oriented product development professionals around. After GOLF.com, I hired Ana’s consulting company, Looper Concepts, at both Time Inc. and for my consulting clients. Analisa is the force that will make sure we continue to launch innovative products and services that users want.

And lastly, my investor and partner group. It is by far the most kick ass group of investors I’ve ever been involved with (this includes my own companies and other deals I’ve done). In total, we have about a dozen investors who not only bring money, but also expertise, contacts, networking abilities, product development and financial knowledge, street cred and much, much more. If you are truly judged by the company you keep, this company should be judged well.

A big thank you to Howard Lindzon of Wall Strip fame. Sorry for not returning your call re: GolfNow.com (awesome company … check it out) months ago. I know you’ll never let me forget it. But luckily we connected again as he was selling his business to CBS and have since done several deals together. Howard saw my vision as early as our first conversation at Stone Rose. Since then, he made introductions that lead me to Roger Ehrenberg, James Altucher, Peter Thiel, Mark Pincus and others.

If you have a Facebook app, looking for a job or are at all interested in the space, drop me an email (michael atsign buddymedia dot com). Let’s figure out a way to work together. Specifically, we’re looking for the following:

• Application developers and companies that want to activate users and leverage the AceBucks currency in their apps.
• Programmers interested in building-out an exciting, next-generation media and marketing business.
• An aggressive business development pro who can create partnerships with other app developers, corporate partners, rewards providers, advertisers and more.

As I’ve learned several times before, this is just the beginning. I believe that we have 12-18 months to make this company rock and we will be doing everything we can to make it work and work well.