All eyes are on alumni-based social network Classmates.com, which is hoping to raise as much as $125 million in an initial public offering. A successful IPO may convince other independent social networks, Facebook being the most prominent of these, to try going public, according to this article.
Mobile social networks are a growing phenomenon. Established players like Facebook and MySpace have added mobile features, and mobile centered social network startups are jumping into the fray. According to data from M:Metrics Inc., only 3.5% of U.S. mobile users access social networks or blogs via a mobile device even once a month.
Omnicom Group interactive shop Agency.com reportedly is in the doldrums, having endured a recent wave of client defections. Founder Chan Suh has re-emerged as chief executive and has brought in a new senior management team. Big ticket clients eBay and search engine Ask.com reportedly are pleased with agency's work, but some observers say Agency.com suffers from perception problems across the industry and internal competition from rival Omnicom shops.