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Here comes the flood: VC firms funding corporate media push into social media

Somewhat lost in the news because of Google’s acquisition of Motorola, Buddy Media, a New York startup raised US$54-million at a US$500-million valuation.

Buddy Media helps corporations set up and run their presence on a wide range of social networks.

From Buddy Media:

We are in the midst of a massive shift online from a search and intent-based world to a social, people-based world. The last three years were about the consumer side of social platforms, as we watched Facebook, Zynga and Twitter grow exponentially.

The next three years will be all about the enterprise side of social, and how companies engage and grow their businesses by tapping into these massive platforms. Buddy Media plans to help accelerate this movement by providing our clients easy-to-use and powerful tools to help them tap into these social platforms to increase revenues, find new customers, and build deeper relationships with current customers and more.

My Take
This is a good example of a key trend: the flood of corporate media that will be hitting social networks over the coming years.

[See: Social Media Is Not Corporate Media]

Buddy Media has some big VC firms behind it which means lots of other VC firms will, sheep-like, jump onto other, similar investments. That ups the pressure on corporations to be very active in social media. Corporate media is not, however, social media — businesses should be listening to the conversations rather than trying to actively engage users.

[See: I Don’t Want A Social Media Relationship With My Hard Drive]

What will happen to social networks as more and more corporations feel the need to “engage” and become desperate to do something in social media?

Clearly, social media won’t be the same experience for users that it is now, and that first attracted them to social networks.

Will corporate media make social media better? It’s unlikely. Even those corporations that take a light approach are at the mercy of the corporations that take a heavy approach and end up alienating millions of people towards corporate media on social networks.

My prediction is that people will move to less visible communities, where they can hang out with others, in places that aren’t in full view of the corporate eye — which is ever vigilant and ever wanting to become “part of the conversation”.

Author | Tom Foremski: In Silicon Valley

Tom Foremski: In Silicon Valley
Tom Foremski is a former Financial Times journalist and the Founder and Publisher of Silicon Valley Watcher, which is an online news site reporting on the business of Silicon Valley and the culture of disruption. More
  • I agree. I agree. I agree. Although I’m not a fan of the iPhone, I’ve been an avid Nokia user of all their flagship models since cell phones landed in South Africa and must admit that the Lumia 800 does not appeal to me at all. I’ll definitely be looking at other brands if this is all that is on offer in October when my contract is up for renewal. Nice review. Thanks. :)

  • Sdfsdafs

    what, have u even try a lumia 800 

  • Kerrytlc

    I have a Nokia lumia and think its a great phone, but does anyone know why the battery goes very quickly?

  • Chris Rawlinson

    Sir Nic, 

    A couple of things dear chap:
    The settings menu and most functions can be pinned to the home screen negating the need for you to scroll and search (or much like other phones you can use apps that create shortcuts if you want)The alerts are easy to find and turn on or off, just go to the settings section of the facebook app or just turn off sounds and notification from the settings menu.The apps look very different! I just walked around my office and no one agreed they looked identical, the UX is similar but surely that’s a good thing, the facebook app was revamped last week, check the update.If you need a hand let me know :)Chris

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