Over the weekend I won an auction for a facebook app for sale on AppMRKT (a site run by Ben Bleikamp and Johnathan Otto). The app is called Mixology101, it was originally built by Steve Vorholt of Ohio State University, and had around 1300 users when I bought it.

So why did I buy this app? Well, several reasons; the primary reason was that there is a lot of undeveloped potential here, and with the right guidance could be huge. The other reason for doing this was to use this as a case study for those of you interested in seeing how a facebook app can be like any other property and be rebuilt/remodeled and re-monetized.

In the next few weeks I’ll be discussing what we’re doing, how we’re doing it, and why. So the goal is to show you how an application can go from a few thousand users to tens of thousands, and eventually hundreds of thousands.