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How Tagged Found A 100 Million User Path Post Facebookocalypse
This is an interesting story of an early Facebook competitor, who continually out-innovates Facebook to survive and has reached $35M in revenue.
They went somewhere Facebook wouldn't go (dating) and sell virtual gifts.
link source: techcrunch.com »
Page Excerpt
Heard of Tagged? Back in 2005 it was a teenager-only social network, catering primarily to U.S. high school students as Facebook charged through the college crowds. By 2007 they were profitable and worth over $100 million.
Just one problem though. Facebook eventually started letting high school students in, and then everyone else. Tagged responded by opening up to everyone, too. But by mid 2007, CEO Greg Tseng tells me, Tagged knew it was in trouble.
So Tseng and team decided to reach out to users and ask them what they wanted. “The most important thing we learned was that people were using our site to meet new people.”
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Just one problem though. Facebook eventually started letting high school students in, and then everyone else. Tagged responded by opening up to everyone, too. But by mid 2007, CEO Greg Tseng tells me, Tagged knew it was in trouble.
So Tseng and team decided to reach out to users and ask them what they wanted. “The most important thing we learned was that people were using our site to meet new people.”
Read Full Article »
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