BetaHouse Incubates Web 2.0

I recently had the opportunity to sit down with Greg Gibson, one of the founders of BetaHouse, a CoWorking group here in Boston. The premise of BetaHouse is pretty simple: For $400 a month, you get a desk, WiFi, access to a fully stocked (beer, caffeinated beverages and fatty snacks) refrigerator, a barbecue every Friday, music, and — most importantly — a group of other geeks with which to network, socialize and bounce around ideas.

The idea is to provide a creative environment in which techies and entrepreneurs can develop their ideas and bring them to market — and of course, get funding.

One idea that Gibson himself has developed in the BetaHouse office is PrayAbout, a social networking site based around support and prayer. Once you join the site, you can put in prayer requests that other people will answer, effectively creating a support group community to help you deal with your challenges.

The site appears to perform a useful social function and attracts people from around the world. One thing that Greg noted was that a number of people who have received support (such as a suicidal man in South Africa) have in turn become more involved with the site, providing support to others.

PrayAbout is quite different from other social networking sites in that it’s not ad-supported — all revenue is derived through subscriptions. It currently has some 14,000 subscribers, and that number is growing.

As for BetaHouse, time will tell how well this works. One issue I see is turnover. Once an idea is funded, the developers behind it will likely move to new offices in order to accommodate an expanding team, continually leaving BetaHouse with empty desks that need to be filled.