It wasn’t that long ago that the most significant investment you could ask someone to make was a financial one. But something started changing with the advent of the social web a few short years ago. It suddenly became more critical to get people to invest their social capital (their ability to influence those in their social circle) than getting them to invest their financial capital.
The make or break point for facebook wasn’t getting outside investors to put in money, it was convincing users to to risk sharing a new idea with their friends. They could raise all the money in the world, but if they couldn’t get people to refer people they wouldn’t succeed.
Thankfully their timing was perfect. We were all hungry for online connection, so we took the social risk and made the investment. It worked. Really well. And in the process it made a few people insanely rich financially, and the rest of us much richer socially.
Some of you noticed that I all but disappeared from this blog a few months ago. In September, my brother Matt (who’s brilliant) approached me with an idea and asked me to join him in working on a new project with an incredible team. He wanted to create an opportunity for people to invest their social capital and see both social and financial rewards. I think we’ve done exactly that.
We designed Moolala to combine the hottest space on the web (Daily Deals) with the most powerful marketing force ever (word of mouth). Rather than spending millions of dollars on traditional marketing and advertising, we’ve designed a system that rewards our users really well when they do the marketing for us.
We launched on Wednesday and the response has absolutely blown us away.
Let me know what you think of Moolala (and yes, it’s an affiliate link).
Please note: If somebody else has already referred you to Moolala, please use this link instead and put their email address in the referral code box in the final step so they get credit for your invite instead of me.