Martha Stewart Starting Social Networking Site: MySpace.com Terrified
Posted on May 25, 2006Martha Stewart Living Omnimedia announced is diving into the online social network business: the company is starting social networking site like MySpace.com, but aimed at adult women.
It's an interesting project. The real question is whether soccer moms have time to add 1,000 people as friends, upload videos of their day and list all their favorite bands. MySpace.com is reportedly terrified of this new competitive threat which the blogosphere has already nicknamed "MarthaSpace."The network would appeal to women aged 25 to 45, and allow members to share photographs, scrapbooks, recipes and similar projects with each other and home design experts, said the company's chief executive, Susan Lyne.
"There is no place like MySpace, like Friendster, for that demographic," Lyne said at a financial conference. The social network would be part of the Marthastewart.com Web site, founded by lifestyle expert Martha Stewart, rather than a separate Web site like MySpace. The community is tentatively scheduled to launch in the second half of 2007, spokeswoman Elizabeth Estroff said. Social networking and other types of online communities are becoming more interesting to investors following the success of MySpace, which Rupert Murdoch's News Corp. bought last July for $580 million.
MySpace boasts more than 56 million members, many in their teens and 20s. It has prompted the launch of competing sites, such as JibJab Media's JokeBox.com and Sisterwoman.com, which is designed for women over 21.