Vatorx2
Location: 456 Haight Street Apt 1, San Francisco, California, United States United States
Stage: Pre-launch
Number of employees: 1-5
Short URL: vator.co/five
Followers (2)
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FIVE

FIVE. Assemble your crew…
Startup/business
San Francisco, California, United States United States
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Company description

1. Introduction

500 Million Friends isn’t cool. You know what cool?  FIVE Friends…

FIVE (jazzy name TBD) is an online community where individuals create inner circles to share common activities. FIVE encourages users to promote shared unified experiences.   

  • Product/service – Power/voice for small cohesive groups. Collective shared experiences are rewarded, then highlighted to external communities. The pain of a large flat network is removed because individuals and are locked into one group (users can only belong to one self inner circle).

 


Team
Business model

2. Business Overview

  • Company description and business model
    • Five is the next evolution in online relationships. Users form an inner circle of five friends and earn rewards through the aggregation of unified/collective online activity (i.e. All 5 members “checking in” to the same location, commenting on a post, participating in a Groupon deal, sharing an article). The actions of the group are solely rewarded when the entire group completes the task. A user may only belong to a single inner circle. High performing inner circles will be featured as “stars” to the larger online community (i.e. Foursquare’s Mayor system). 

 

Competitive advantage
    • FIVE exponentially accelerates online consumption. Instead of making a sale to one person, you make it to five.  Members of the inner circle have an obligation to their friends consume and report online consumption (i.e. media, goods, services) since the group is only rewarded for unified activities. This translates to loyalty/conformed behavior within the circle to join in activities for the greater good of your friends and increased social status when compared to other inner circles. 

FIVE makes relationships matter. Since inner circles consist of five self-selected parties, group cohesion creates, drives and elevates value within the relationship chain. Products and services are now presented to users within their “circle of trust”, and users will be more likely to purse these opportunities based on group loyalty online, status recognition and/or underlying group formation purpose.

  • Competitive analysis
    • In the incumbent social networking environment, more (i.e. friends, content) is perceived as better. The networks themselves are designed for people to aggregate as many relationships/intersections as possible. These actions however dilute the importance of our meaningful relationships, and diminish overall community value. Other competitors seeking to develop more intimate/micro communities face local limitations and don’t drive uniformed engagement.