Social Media Finds Traction With (Big) Boomer Demographic: Investors Take Note

Like other tech products that teens and early movers first seized on, social networking sites also are attracting a broader audience--of boomers--78 million in number and 3x the size of the teen market. Investors appear to be taking notice. The NY Times reports http://www.nytimes.com/2007/09/12/technology/12social.html?em&ex=1189828800&en=dba0be3c324d09fd&ei=5087%0A
that several SM sites have opened catering to a demographic interested in sites of their own. "Last week, VantagePoint Ventures, an early investor in MySpace, announced that it had led a $16.5 million round of financing for Multiply, a social networking site aimed at people who are settled. In August, Shasta Ventures led a $4.8 million financing round for TeeBeeDee, a site coming out of its test stage this month. The name is short for “To Be Determined” (as in: just because you’re not trolling for a mate on MySpace doesn’t mean your life is over.) Also in August, Johnson & Johnson spent $10 million to $20 million to acquire Maya’s Mom, a social networking site for parents, according to a person briefed on the deal. The site has been in existence about a year."