Justin Bieber invests in up-and-coming social network for teensBy J. Angelo Racoma on November 5, 2013 6:56 pm@jangelo
One of today’s most famous teenagers has led a $1.1 million seed for an upcoming social network targeted at the younger generation, called Shots of Me.
Social networks like Facebook and Twitter are quite popular among the younger set. However, it has been reported that Facebook is hemorraging users, especially among teenagers, who are flocking to the likes of Twitte and photo-sharing service Instagram.
Perhaps seeing this as an opportunity to introduce a more exciting social networking tool, investors led by singer Justin Bieber have led a $1.1 million seed round to finance a social networking startup called Shots of Me.The new social network is the brainchild of a team that had previously developed social mobile games under the RockLive brand. The new company’s investors likewise include boxer Floyd Mayweather and industry veterans Shervin Pishevas and Tom McInerney.
According to Shots of Me CEO John Shahidi, Bieber has been “very involved in our products, helping us test things and providing feedback.” He added that the new social network attempts to address features and needs for this demographic that are not found on other social networks. It “tries to deal with things like cyber-bullying,” he said, which attracted the teen idol.
The app is geared for launch later this week on Apple’s iTunes App Store, and Bieber’s popularity among the social network’s intended target market is seen as a big marketing benefit. He is tied with fellow singer Katy Perry as the most popular Twitter user (46.5 million followers), and creators are hopeful that this will help the app gain traction once it launches.
Bieber reportedly got connected with the developers after getting hooked on playing RockLive apps and sharing about these socially-connected games with Twitter followers. Shots of Me has raised a total of $2.7 million and is currently in talks with other potential institutional investors.
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