Social Networks

Socialwise is melding the explosive internet phenomenon of social networking with the development of platforms that integrate traditional eCommerce products and services into the latest social network applications.

Social networking sites such as Facebook, MySpace, Bebo and Hi5 exploded onto the internet scene, effectively changing the way users interact online in a social environment. Focusing on building online communities of people who share interests and activities, or who are interested in exploring the interests and activities of others, a social networking site is a place where a user creates a profile and builds a personal network that connects him or her to other users to create an online community. Social networking has created new ways to communicate and share information and, for large segments of the population, has become the most widely used daily communication tool.

These sites have grown into a phenomenon with hundreds of millions of internet users. The two most prominent social networking sites worldwide are Facebook and MySpace. According to numbers from ComScore, May 2008, Facebook has 123.9 million users worldwide, and MySpace has 114.6 million. In terms of U.S. users, MySpace leads with 73.7 million users and Facebook has 35.6 million, with an average of 3% weekly growth since Jan. 2007.

A study of Facebook users by MarketingHub.info found that:

1. 84% of members are between the ages of 14 and 26
2. 55% of members are female and 45% are male
3. 47% of members are currently studying at a high school or college level
   

Social networks connect people at low cost and benefit eCommerce platforms by acting as a customer relationship management instrument for companies selling products and services, or as a wide-reaching advertising tool.

Look for applications that feature our Socialwise Group Gifting Platform and BillMyParents on popular social networking sites.

Facebook is a free access website with over 115 million active users and is the most used social media site in the world. It allows users to connect and interact with other users by joining networks organized by city, workplace, school, and region. Facebook users create profiles, including photos and lists of personal interests, exchange private or public messages, and join groups of friends, facilitating the exchange of information with a large population, quickly and exponentially. The exposure to Socialwise applications such as Group Gift Card on this social website is extremely significant.

MySpace is one of the largest social networking sites in North America with 83,895,693 users, a dominant position primarily aimed at youth and young adults under 25 years of age. With around 111,000,000 active global users monthly, it serves a similar purpose in social networking as Facebook, with the main differences being the slightly younger demographic and “friends” on MySpace tend to be more social contacts, with fewer colleagues and business professionals. With over twice as many female members as males in this very consumer-driven demographic, this adds up to a huge base for which eCommerce constitutes a large portion of their spending dollars and is a very effective market for Gimme! and other Socialwise applications.

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