A few weeks ago I published my thoughts about application studios on this blog and today I am happy to announce the launch of new app studio, Vancouver-based Social Crowd Ventures. Social Crowd Ventures is a joint project between W Media and Adarsh Pallian, the very talented developer behind chart.ly and Tweetizen, and plans to launch 4-5 (mostly) Twitter-based applications until the end of the year. The first project that got launched last week is Justbought.it, a location-based social tool that allows you share photos and tweets on amazing finds and one-of-a-kind purchases as you stumble upon them (check out coverage here. When deciding about what future apps to develop, Social Crowd Ventures will not only keep the 4 success factors in mind that I outlined in my post last week (focus preferably on one vertical, develop a success formula that can be repeated, leverage inherent strength of the platform you develop for, come up with revenue streams beyond advertising) but will also try to incorporate as much community feed-back into the decisions as possible. Stay tuned for more announcements – go and try out Justbought.it and let us know what you think.