Facebook, the largest social networking site in the world recently announced that they will be launching their own app store. This is the company's latest strategy in profiting from the large population registered in Facebook.

The app store will focus on social apps that would utilize Facebook as a way to login or register. Developers who have such apps can either benefit from this strategy or they could lose steam since Facebook will be the one rating the said apps. Facebook would use an app rating system metric wherein it will rank the apps. If the apps are able to maintain the standards set by Facebook, they will be "prominently displayed". Facebook said that they are expecting "high-quality" apps for the store. Examples of apps that meet this standard are Draw Something, Pinterest, Spotify, Battle Pirates, Viddy, and Bubble Witch Saga.

On the other hand, if the apps are not up to par with Facebook quality, these apps will receive low ratings and will be delisted. This metric rule would surely cause a controversy to some developers especially the ones that will be affected by this ruling. Despite that, Facebook mentioned that if the app was initially rejected, the social networking site would disclose their reason for doing so and they would also provide suggestions and recommendations in order to improve the app. After doing the said revisions, developers can then resubmit their apps for approval.

Aaron Brody shared in the Facebook developer blog some additional information about this subject. He wrote that ""In the coming weeks, people will be able to access the App Center on the web and in the iOS and Android Facebook apps. All canvas, mobile and web apps that follow the guidelines can be listed. All developers should start preparing today to make sure their app is included for the launch."

The App Center will feature a wide variety of apps ranging from social games to music services. Aside from that, the App Center will also include apps that are designed for PCs and mobile devices (both for Apple and Android smartphones). The new App Center is said to be officially released in the coming weeks.

One of the problems that Facebook investors are facing is its slow revenue growth. The reason behind this is that users now prefer to access Facebook through their smartphones. Facebook only has limited ads in smartphones thus the decline in revenue growth. Facebook is set to prepare the company's initial public offering that its initial value is set to be estimated around US$77 billion to US$96 billion.