You’re reading this here first ... According to multiple sources, Viacom has invested in social networking company TagWorld for MTV Networks—not for the site but for access to the company’s tools and technology. We’ve been hearing about this for months in various forms but couldn’t confirm until now. TagWorld was founded in 2005 by Fred Krueger and Evan Rifkin and is still listed as beta; it has more than 3 million registered users, according to a press release from late last year. It allows users to build their own sites and share a la MySpace.com and the others, has its own music and video players, and is testing video chat and the now-requisite widgets. MTVN has talked for months about building its own social networking rather than acquiring one of the remaining large established companies. This would add to their arsenal.
The investment should fall under Nick Lehman’s MTVN Games and Interactive Media group, which includes Xfire and Flux. MTVN PR declined comment.
Related: Social Networking Site Tagworld Gets Funding
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MTVN Invests In TagWorld; Eager For Social Networking Tools
By Staci D. Kramer - Tue 16 Jan 2007 03:23 PM PST
Posted in: Companies, Viacom, MTVN, Social Media, VC+M&A
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- From Ron Mwangaguhunga Tue 16 Jan 2007 08:05 PM
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A bit of a letdown, no?
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- From Staci D. Kramer Tue 16 Jan 2007 08:41 PM
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Only if you expected much more ...
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- From chrisco Wed 17 Jan 2007 01:32 AM
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This is exactly what I would have expected from Viacom. TagWorld appears to have nice technology. TagWorld has a weak brand/name. Why not take the good and leave the not so good. Now lets see what Viacom can do. I think they need a new brand to go with this. I.e. don’t just slap TagWorld tech onto MTV. We’ll see.
-Chris Comella, Founder
BuzzPal - The World Is Your Party
http://www.buzzpal.com
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- From lard Wed 17 Jan 2007 02:46 AM
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I agree Chrisco. Tagworld has great tech. but no brand. Why not team up with a company that has bad technology but a great brand great content and direct access to the all powerful TV screen? I think it’s an interesting partnership and could be just what both companies need. People that don’t see that opportunity are short sighted in defining Social Networking as MySpace instead of the myriad of alternative iterations that exist.
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- From Morris Wed 17 Jan 2007 10:24 AM
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hasn’t everyone been leaving tagworld en masse? compete shows their traffic is tumbling. Who do I have to talk to at Mtv to straighten these guys out?!
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- From TJ Wed 17 Jan 2007 02:32 PM
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I think it’s good news for TagWorld, but terrible news for facebook. Given that Viacom just acquired ratemyprofessor, it is obvious that they are going after school/college kids from a different angel than MySpace. I bet if facebook were to have some reasonable price tag, Viacom would have acquired them in a heartbeat. Now, I think facebook will wait for the right guy until it internally collapses.
That’s only my humble opinion.
TJ
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- From manny Mon 22 Jan 2007 06:00 PM
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not really a different angle at all.. myspace has its own rate my professor feature, and its actually used by more college age people than facebook. myspace is after in-college and out of college in that age group.. and they’re getting them.
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- From Jason Martell Wed 31 Jan 2007 11:21 PM
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Viacom is KING of content. With Tagworld web 2.0 and Viacom content - I think we have a winner here
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- From Victor Tue 21 Aug 2007 02:10 PM
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All this social networking stuff with MySpace and Tagworld is cool. But I also ran into a new site that is growing, http://www.txtms.com.
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- From Jojo Sat 15 Sep 2007 09:13 PM
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Good news...now if they can actually fix the MINOR problems on tagworld. Love that tagworld is getting out there!! My favorite friends are all found there!!
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