Nine years after starting the what he hoped would be the biggest way to upload mobile social media, CEO Chris Wade, who has just sold ShoZu to white-label telecoms services business Critical Path, conceded: “It is unclear to me that there is a standalone business model in social aggregation.”
Social media consumption has been a runaway success on mobile, but not necessarily so for some of the middle men that make those services possible. ShoZu received $36 million from VCs including SEB Venture Capital and Atlas Venture. But Wade, still ShoZu’s largest individual investor, admitted to the challenge in an interview with paidContent:UK…
– ShoZu’s foray into paid apps has been a “medium” success: Last June, the company hopped on the apps bandwagon and launched an app for the premium price of $4.95. “The great news is that every day on seven or eight app stores, people are paying for our app,” says Wade. “But are they in the tens of thousands? Absolutely not.” He says the company plans to reevaluate the offering. He mentions more services storage and content replication, and a possible change in pricing, too.
– ShoZu brand to live on: “We