CNN MONEY - May 20 - Thread.com is a new site that lets singles view profiles of their friends' pals on Facebook and request introductions. Facebook already has all the raw ingredients of the largest dating site in the world. More than 400M people worldwide have profiles. And since Thread relies on users' pre-existing profiles, rather than asking them to create new ones, it takes less effort to get started than most online dating outlets. Last year, Thread landed $1M in venture funding from First Round Capital and Sequoia Capital. Angel investors, including RottenTomatoes.com CEO Joe Greenstein and LinkedIn founder Reid Hoffman, also put in additional $200,000. Thread's close ties to Facebook bring a few risks. "If Facebook decides to do something, Thread must follow along, and in one fell swoop it could take their bottom line with it," says Mark Brooks, an Internet dating industry consultant. Facebook is already at the center of a firestorm over privacy issues. Thread still has to figure out how to monetize its matchmaking, whether through advertising, subscriptions or virtual gift-giving. Roelof Botha, a partner at Sequoia Capital, had already tried his hand at Facebook matchmaking -- cutting and pasting his friends' profiles and sending awkward e-mails back and forth -- when the Thread business plan hit his desk. "A lot of people were doing this manually, so I thought, 'What a wonderful idea,'" he says. Brooks, the Internet dating industry consultant, agrees: "They're bottling what we already do in the real world." FULL ARTICLE @ CNN MONEY
See all posts on Thread.com
| |
Comments