Diaspora Raises $100,000 In Micro-Funding To Create Open Source Social Network

Posted May 13, 2010

Given that Facebook has seen its fair share of hack attacks recently, this opened up an opportunity for a group of people to create an alternative. Personally I miss the older Facebook when it had a major focus on the classes you were taking and the school you had attended. But that business model limited Facebook too much so I can see their reasoning for expanding beyond colleges.

Diaspora* is a company started by several individuals at New York University and it was profiled by The New York Times. Diaspora is going to be an open source social network that is similar to Facebook’s older days when it was college-focused.

Diaspora is launching their service with the help of micro-funding. Kickstarter.com is a micro-funding service where entrepreneurs can receive donations for their projects.

The NYU students started off by giving themselves 39 days to raise $10,000. Done. After the NYT coverage, they raised over $50,000 even faster than expected. And now they have raised $100,000. Investors include Fred Wilson and Leo Laporte.

Will they succeed? Its only a matter of time before we find out. The four people on the Diaspora team include Ilya Zhitomirskiy, Dan Grippi, Max Salzberg, and Raphael Sofaer.