Updated: Well, Expedia/TripAdvisor denied this report...at least they say the report is untrue. We’ll take their word for it, for now.

Original post: Inside Facebook is reporting that travel community site TripAdvisor (owned by Expedia) has purchased the popular ‘Where I’ve Been’ Facebook app for $3 million, a price tag that works out to $1.30 per user.  There’s been a lot of debate about the viability of Facebook-oriented apps as standalone businesses or acquisition bait so this deal will only add fuel to the fire.  It should also spur more interest from VCs, who have been upping their interest in Facebook-related plays.  Last month, Bay Partners announced a new Facebook-only funding program, AppFactory, to distribute investments between $25,000 and $250,000 to developers, figures that make sense in light of the $3 million for Where I’ve Been.

As for TripAdvisor, the Expedia unit continues a steady diet of acquisitions, having made several purchases throughout the year, the most recent being cruise social net The Independent Traveler.