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.”
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.
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