We covered angel-funded Hawaiin startup ChipIin last May. The startup was the subject of a funny series of profiles by a local newspaper which wrote that ChipIn had “the potential to be not just Hawaii’s – but the world’s – hottest tech phenom in recent memory.” In a later profile ChipIn acknowledged that its original epayment business model didn’t work so it did a restart. Now in its 3rd or 4th incarnation ChipIn seems to have won some financial return for its investors. Facebook app rollup firm BuddyMedia is buying 5 Facebook apps from ChipIn. They include Pirates vs. Ninjas.
For sure, ChipIn’s Facebook apps have been a huge success. BuddyMedia says the applications have been installed by 5.6M Facebook users and generate more than 5M page views a day. ChipIn CEO Carnet
Williams explains that the reason they sold the Facebook apps was to help them to add operating cash to the $1M in angel funding that they have raised and to help them to focus on their core business.
