06 April 2008
I think I'd be correct in saying that these have been the most successful internet startups over the last five years.
MySpace, Flickr, YouTube, Facebook, Digg, and Bebo.
This what I can see is common amongst them:
- They don't sell products and are free to use.
- They are not technology companies. They use fairly standard web technologies and none hold any patents of significance [that I know of].
- They are fantastic at marketing their brand, but they don't do in the traditional way. They are all brands that have grown through online awareness; no massive tv, radio, or press campaigns.
- Their users create most of their content and do most of their marketing for them.
- Their business model is advertising. Same as a traditional media company; build an audience, then sell access.
- All have raised significant VC rounds, although I'm not entirely sure they are all profitable businesses.
User Generated Content - must remember that.
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