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Created in 2013 as a "private" social network described as the "anti-Facebook" for its stand on privacy and advertising, Ello (ello.co) opened its doors publicly in August 2014 on an invitation-only basis. (Paul J. Richards, AFP)
Ello, the little social networking site that could, just raised an additional $5 million from investors, bringing its total investment to $11 million.
The new funds come from current investors Foundry Group, Techstars Ventures and FreshTracks Capital. The previous round $5.5 million last fall went toward hiring developers and adding several features to the site: drag-and-drop editing, drafts and full-screen browsing and navigation. Mobile apps for iOS and Android are to be released this spring.
"The money we've raised will be 100 percent used to let Ello continue to hire only the best people and to let us take our time to grow and build Ello right, with the right features in the right order," Paul Budnitz, Ello's CEO, said in an e-mail.
Mark Solon, managing partner at Techstars Ventures, will join the Ello board.
The Ello team has grown to 27 people, with about two-thirds in metro Denver. Co-founders and head designers Todd Berger and Lucian Fohr are in Boulder. Other co-founders include members of software developer Mode Set in Denver. Budnitz is in Vermont.
A recent hire includes Pete Sheinbaum, the former CEO of Daily Candy, as Ello's chief operating officer.
"Our dev team are all senior developers. We purposely hire rule breakers who have their point of view and are free to express it in the things they make," Budnitz said.
The new money will be used to improve and expand the site.
"No, we didn't use up all our money yet," Budnitz said.
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Anti-ad social network Ello raises another $5 million
An anonymous reader writes On Slashdot, we frequently write derogatory comments regarding social networking sites. We bash Facebook and the privacy implications associated with having a great deal of your life put out there for corporations to monetize. Others advocate for deleting your Facebook profile. Six months ago, I did exactly that. However, as time went on, I have fully realized social media's tacit importance to function in today's world, especially if you are busy advancing your career and making the proper connections to do so. Employers expect a LinkedIn profile that they can check and people you are meeting expect a Facebook account. I have heard that not having an account on the almighty Facebook could label you as a suspicious person. I have had employers express hesitation in hiring me (they used the term "uncomfortable") and graduate school interviewers have asked prying questions regarding some things that would normally be on a person's social media page. Others have literally recoiled in horror at the idea of someone not being on Facebook. I have found it quite difficult to even maintain a proper social life without a social media account to keep up to date with any sort of social activities (even though most of them are admittedly quite mundane). Is living without social media possible in 2015? Does social media have so much momentum that the only course of action is simply to sign up for such services to maintain normality despite the vast privacy issues associated with such sites? Have we forgotten how to function without Facebook?
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Ask Slashdot: Living Without Social Media In 2015?
The author has posted comments on this articleStuti Agarwal & Manali Basu, TNN | Apr 3, 2015, 12.30PM IST
the various social networking sites offer a plethora of pro motional options to businesses, free or paid.
For one, the various social networking sites offer a plethora of pro motional options to businesses, free or paid. And for start-ups, nothing can beat some free or cheap publicity . Shoe-designer Kartick Kapoor is all praise for social networking sites. "It has helped me a lot in reaching out to my target market. I can choose who to address -just men from Kolkata or girls aged 18-25 in Delhi. Updating info is also easy . The viral aspect of it, where friends of friends of friends can see and highlight your page, is particularly helpful. Though it is mostly free, the paid ads come as cheap as $1 per day . You can also choose which day to put up an ad.It has also got me a lot of leads for exhibitions and fashion weeks. My best of online tie-ups has been through social media and it's way better than a personal website, which requires a lot more effort and money to maintain."
Jewellery designer Priyanka Khaitan, too, has found many clients after she uploaded designs online. "I've not only received appreciation, but also get so many queries over social media. I can also quote the price and show other designs to clients online, who cannot or do not want to come down in person to check out what we offer."
Social media has also helped Papercup, a product-design com pany, in its brand promotional activities. "We started operations in 2010.As a startup, social media helped us reach out to many potential customers. We also have over 1,200 likes on our page without paying a single penny for advertisements.People today spend sufficient time online and that is what our brand capitalized on," said founder Somrwita Guha.
Oindrila Banerjee, who founded Own It Now, a company manufacturing ethnic home decor, in August 2014, said, "I was invited to an exhibition for the first time after the event organizers noticed my social media page and liked it."
And then there are people who have witnessed magic, thanks to social media.Hungry and Skinny , a home bakery started in November 2014, saw a manifold increase in its customer base after it opened its own social media page. "Ever since I started selling my sweet treats, my friend had been suggesting that I make a social media page. After a lot of hesitation, I finally created the page six months after I started selling. Overnight, my client base expanded to 100 new customers! Social media helped me reach out to people that I normally wouldn't have, and helped others to know about me and check my stuff out. It also played a major role in innovation because people see the pictures and suggest modifications or give more ideas," said entrepreneur Dishari Dutt. Even your idea or start-up might be waiting for that social media push. Go ahead and give it a try . Who knows, something fantastic might be waiting for you on the other side of the network!
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Business boom on social media
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