Open Community Social Network, Badoo Raises $30 Million

Posted Jan 21, 2008

Badoo is a London, England-based social network that distinguishes themselves by giving users control over the size of their audience.  Badoo gives members instant message capabilities.  The instant message isn’t just limited from user-to-user, but it works very similar to the way that Twitter does.  Users are encouraged to say what they are doing and anyone can see it.  This open community is different from Facebook, Friendster, and Bebo in the sense that anyone can look at anyone else’s profile.  Badoo has close to 13,000,000 users and growing according to all of the pages built in to the site.

The idea of an open community seems like a great idea since its different, but it can have some very serious implications, especially for communities that are growing at a rapid pace.  Sometimes the wrong crowd begin interacting with the innocent and naïve as demonstrated in the past on Craigslist and MySpace.  As long as Badoo begins to develop a method to protect too much user information from leaking, they should be just fine.

Perhaps the $30 million that Finam, a Russian financial group should be a good start towards put together strong information security.  Finam now controls 10% stake in the social network and will participate in growing the social network in Russia.  Currently, Badoo does not contain any advertisements.  The investment is part of Finam’s Information Technology arm.  Finam also owns 68.5% of Mamba, a dating social network based in Russia.

[Information Source: Quintura Blog / TechCrunch]