Social Networking continues to attract entrepreneurs and investors alike, despite growing concerns about the long-term business viability of the segment. And a bunch of local entrepreneurs have already latched on to so-called next generation social networking models, termed ‘lifestreaming’. Indian startups such as Lifeblob (received $1 million from Seedfund this month) and LifeinLines, which follow global precedents, fall within this category. What is the future of such me-too startups? Is ‘lifestreaming’ as a model really the next generation of social networking? Norwest Venture Partners India managing director Niren Shah, who was part of the original Baazee management team and served as senior director of strategy and ventures at eBay in the US prior to Norwest, shares his thoughts on the space.
By Niren Shah
There have been several startups in the space of Digital Lifestyle Aggregation (DLA) which have come up globally in the past 18 months. DLAs let users create and organize memorable digital assets (using emails, photos, videos, documents, SMS, blogs, social apps, etc.) and help them share these with family and friends. Users use it to build personal diaries, family tree histories (genealogy) for social casting, etc.
I think it is an interesting space especially for ‘Gen Y’ whose life revolves around the online world and I believe it will continue to grown in the long term. Globally, the early adopters have been the Internet savvy ‘digerati’ who want to preserve their digital memories for the future.