There was a great article in the NY Times last week about social networking sites catering to older folks.
Not only was it fascinating reading (one of the sites, Multiply, had a 96% retention rate), it was a bit of an eye opener that VC’s were looking seriously at funding this kind of social network (finally) because of the demographics and stickiness of the over-50 population.
“Teens are tire kickers — they hang around, cost you money and then leave,†said Paul Kedrosky, a venture capitalist and author of the blog “Infectious Greed.†Where Friendster was once the hot spot, Facebook and MySpace now draw the crowds of young people online.
“The older demographic has a bunch of interesting characteristics,†Mr. Kedrosky added, “not the least of which is that they hang around.â€
Some interesting factoids from the article:
- There are 78 million boomers — roughly three times the number of teenagers — and most of them are Internet users who learned computer skills in the workplace.
- The number of Internet users who are older than 55 is roughly the same as those who are aged 18 to 34, according to Nielsen/NetRatings.