New social media arrival Sum Zero is set to corÂner a niche zone of the marÂket by offerÂing a meetÂing place and soundÂing board for investors from around the world.
In a develÂopÂment almost calÂcuÂlatÂed to whet the interÂests of the jobÂbing conÂtent manÂagÂer and social media manÂagÂer, SumZeÂro can be conÂsidÂered a social netÂwork with a difÂferÂence. Its emphaÂsis is radÂiÂcalÂly difÂferÂent to Facebook’s, as it is a platÂform for investors across the globe. It’s designed to be a kind of virÂtuÂal salon where they can share thoughts, disÂcuss potenÂtial breakÂthroughs and chew the fat over posÂsiÂble new projects.
No one can ignore social media any more
The world of adverÂtisÂing and marÂketÂing has, in a few short years, been transÂformed by social media platÂforms to such an extent that no one with a comÂmerÂcial interÂest can posÂsiÂbly ignore them. Google’s recent $250 milÂlion acquiÂsiÂtion of the social media marÂketÂing start-up WildÂfire is a case in point. The search leviathan is clearÂly aimÂing to extend its reach into the world of social media camÂpaignÂing. Even Facebook’s recentÂly announced pledge to place the develÂopÂment of a mobile platÂform as its highÂest propÂerÂty is driÂven by the need to attract social media adverÂtisÂing revÂenue more effectively.
ForÂmer FaceÂbook friends re-unite
IntriguÂingÂly, there is someÂthing FaceÂbook and SumZeÂro do have in comÂmon. The new network’s founders, Divya NarenÂdra and Aalap MahadeÂvia, and it’s first major investors, Tyler and Cameron WinÂklevoss, were budÂdies with Mark ZuckerÂberg durÂing those HarÂvard stuÂdent days, and they all colÂlabÂoÂratÂed in the setÂting up of what became the FaceÂbook phenomenon.
The origÂiÂnal partÂnerÂship didn’t end hapÂpiÂly, with the WinÂklevoss twins famousÂly suing ZuckerÂberg over the hanÂdling of Facebook’s profÂits and the asserÂtion that he’d stolen their idea. Now they’re investÂing $1 milÂlion in SumZeÂro via their new investÂment firm, WinÂklevoss CapÂiÂtal – the very first investÂment the new firm has takÂen on.
The new site has an excluÂsive memÂberÂship (investors can only join by inviÂtaÂtion), but since its launch in June, numÂbers have risen to 7,500. It is preÂciseÂly the kind of venÂture the WinÂklevoss twins had in mind when they set up their comÂpaÂny. Cameron WinÂklevoss has made it clear that he and his brothÂer are all about supÂportÂing entreÂpreÂneurs with a focus on angel investment.