Blog Post

Social Platform Shakeout Begins

ONESite, a profitable white-label social networking platform, purchased Social Platform in what Social Platform CEO Eric Schlissel calls the beginning of the end for the more than 30 players making such software. “I think a lot of companies will go out of business and will consolidate along a few key players,” Schlissel said. Terms were undisclosed, but with ONESite making $5 million last year as a dominant player, and Schlissel starting Social Platform on a $10,000 personal investment, we’re thinking scratch-off winnings rather than MegaMillions.

11 Responses to “Social Platform Shakeout Begins”

  1. @Alan

    The problem with VCs, they really believe their investment is the one which is going to pan out. its always the case with hot tech trends. ATM, optical, DSL and Social Networks. Its the same story all the time.

  2. I am hoping someone can help me out. I read a great article about the future of social marketplaces. The author had come up with an equation of sort to represent the components of a future social network. Does anyone happen to know where I can find this article on GigaOM…I have tried searching to no avail.