Bluepulse has reeled in $6 million from former MySpace
investor VantagePoint Venture Partners and moved from Australia into the former YouTube digs in San Mateo, California,
in a bid to race to the front of the mobile social networking pack.
Tuesday’s funding announcement came a day after rival mobile
social networking entrant MocoSpace disclosed that General Catalyst Partners had
led a $3 million A round.
With MySpace and Facebook dominating the domestic social
networking landscape on personal computers, mobile devices have become the new
battleground. Along with Bluepulse and Boston-based MocoSpace, companies like
Groovr and Twitter are vying to stake out pieces of the mobile community
business.
Eric Ver Ploeg, managing director at VantagePoint, said Bluepulse,
with about 100 million page views per month after a December beta launch, has the
business “nailed.”
“We’ve been investors in the mobile space for six and a half
years now,” he said. “We were also the main investors in MySpace and through
that saw the key parameters in the social networking model.”
Rupert Murdoch’s News Corp. bought Intermix Media, the
parent of MySpace, for $580 million in 2005, providing a handsome return for
VantagePoint.
Bluepulse’s 25-year-old chief executive, Ben Keighran, began
writing the code on which Bluepulse is based when he was a computer science student
at the University of Technology in Sydney.
He grew frustrated when he was unable to share a mobile
application he had written with his friends. Mr. Keighran then met Tony Faure, Yahoo’s
former regional vice president and managing director of South
Asia, who encouraged him to build a platform that would be the
foundation of a “killer app for mobile.”
Mr. Keighran ultimately dropped out of the university to
pursue the project. With users in 150 countries, Bluepulse lets any mobile
phone user with a data plan to download its software and text, chat, create
pages and use widgets. The company plans to carry advertising once it has built
a large community and already has begun tests with ad networks.
Mr. Ver Ploeg predicted that one dominant company along with
several niche players are likely to emerge from the competition in mobile
social networking.
“I’d be surprised if, by the end of next year, there wasn’t
a clear winner emerging,” he said. That winners circle is unlikely to include
MySpace or Facebook, he added. Though they will have mobile extensions to their
social networks, Mr. Ver Ploeg argued they are unlikely to be able to translate
their PC-based popularity into mobile dominance when competing against
companies focused solely on handheld devices.