Ads

Tuesday, November 5, 2013

Justin Bieber leads $1.1 million investment in new teen-focused social network


Justin Bieber leads $1.1 million investment in new teen-focused social network

bieber-phone-hello

Justin Bieber recently led a $1.1 million seed investment into a new social network aimed at teenagers. The network — called Shots of Me — has been developed by brothers John and Sam Shahidi, previously responsible for the RockLive brand. Other investors include boxer Floyd Mayweather and venture capitalist Shervin Pishevar.
The Shahidi brothers say they became aware of Bieber's interest in their company after the star tweeted about his progress in their games. Since then, he's reportedly been involved in testing products and providing feedback. CEO John Shahidi said Bieber's "eyes lit up" when they told him of Shots Of Me's plans to cope with cyber-bullying and its focus on teenagers. CNN Money says Shots of Me will address what teens "aren't getting on other networks," coming after data released earlier this year showing that the age group is growing tired of Facebook 'drama.'
THIS IS BIEBER'S FIRST VENTURE CAPITAL INVESTMENT IN A SOCIAL NETWORK
This investment is Bieber's first in a social network. The singer — who was recently usurped from his position as most-followed person on Twitter — has used social networks to gain a staggering fanbase. He was first spotted on YouTube, almost destroyed Instagram's servers, and had The Vatican Today mention his Twitter account as a yardstick for the Pope's popularity. Shots of Me is planning to reach the Apple Store later this week.