Mobile social networking is practically nonexistent in day-to-day life. This means (a) it’s a dead end or (b) there’s a lot of room for expansion. As it gives Bluepulse $6 million in funding, VantagePoint Venture Partners appears to be betting on (b).
First, to substantiate that claim of nonexistence, I’ll cite an M:Metrics study. Now, to support the theory of expansion, Bluepulse’s press release states, “[M]arket analysis firm Juniper Research forecast mobile operator revenues from user-generated content will increase tenfold over the next five years, rising from $576 million in 2007 to $5.74 billion by 2012.”
The release then continues, “According to Juniper, social networking services will account for 50 percent of that total, with the number of active mobile social network subscribers accelerating from 14 million in 2007 to 600 million in 2012.”
Do you buy that forecast? What about the concept of “luck”? Bluepulse, which was created in Australia, just moved into YouTube’s old San Mateo offices; they have to be as good a place as any for a young company trying to corner a market.
On to the matter of what Bluepulse is all about, then; the subject is thoroughly (and enthusiastically) addressed by Eric Ver Ploeg, a managing director at VantagePoint Venture Partners. “Bluepulse has undoubtedly developed one of the most compelling social networking platforms for mobile,” he stated. “Because the app has been built for the handset from the ground up, it offers a mobile-specific social networking experience, rather than a pared down Web experience on a phone.”
Hat tip to Red Herring’s Ken Schachter.
