Amidst the social networking dotcom frenzy, Neuracom Corporation follows Friendster, Tickle and Lycos by launching Funchain.com, a social networking service that combines personal connections with blogging. The service is designed to make it easy for beginners to create their blogs and connect those with other blogs. Neuracom Corporation hopes this will be a compelling service that will bring more stickiness to the social networking phenomenon.Neuracom Corporation recently launched Funchain.com, the FriendBlogs Engine. FriendBlogs are collaborative journals on the web, composed of short, frequently updated posts written by friends connected through their similar interests.
Funchain.com is the latest in the growing explosion of social networking services, sparked last year by Friendster, which generated buzz and bucks from venture capital firms and other investors. Friendster received $13 million from blue-chip VC firms Benchmark Capital and Kleiner Perkins Caufield & Byers. Spoke Software, a business-oriented social networking facility, got a total of $12 million from Doll Capital Management. Others are expected to follow as more join in the bandwagon.
Neuracom Corporation's CEO, Jason Banico, hopes that the activity of FriendBlogging will create a niche in the social networking space currently dominated by rivals such as Friendster, Tribe.Net, Orkut and others. "We intend to create a compelling service that combines social networking with blogging, both hot online activities for the past two years," Banico said. Banico hopes to tap the 10 million user market for blogging, as well as the 50 million user market for social networking.
The service began as a thesis project by two Asian programmers, Jaeyoun Kim and Raymond Ong, who are now partners of Neuracom Corporation. The service has since then attracted a select set of loyal users, starting from Asian friends of Kim, Ong and Banico.
As for business models, Banico says that Funchain.com will support itself by advertising revenues. The service will be unveiling its premium subscriber service and its e-commerce strategy within the year.
Funchain.com can be reached at
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