Emode purchases Ringo and changes name to Tickle
Emode, a matchmaking and social networking site purchased Ringo, another social networking site, and changed it's name to Tickle (see IDG News Service: Social networking site Emode tickles Ringo).
The article also offers some interesting commentary on the potential profitability (or lack thereof) of social networking sites:
Although social networking is an emerging and interesting phenomenon, it remains to be seen if it will evolve into a solid business model, analysts said. "I don't know that this is a market yet," said David Card, an analyst with Jupiter Research. At this stage, social networking is more of an online feature than a market around which a real business can be built, he said.
"Social networking is about a year old and it's very much in niche status, mostly that of younger people interested in connecting with others," said Charlene Li, a Forrester Research analyst. Yet providers of social networking services are attracting venture capital funding, mostly because these Web sites have found a new way to attract users, and thus have new opportunities to generate revenue, she said.
posted November 14, 2003