After a few years on mobile, Facebook has launched a strategy in which it will offer a portfolio of apps -- some branded under other names -- to build its audience. Now, a startup from Australia is starting with that approach to achieve the same goal.
Moko is a 10 year-old firm from Down Under that is restyling itself as a U.S.-based social network provider by creating social networks around interests like politics and sports. Ian Rodwell, the company's founder, says the company now claims 5.5 million users in the U.S. since it launched in May. Advertisers on the platform include Target, AT&T and L.L. Bean. At this writing, Moko had a market capitalization of around $80 million and was trading for around $5 on Nasdaq.
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The company entered the U.S. market in May with Bluenationreview.com, a left-leaning news site. RunHaven, another site, is aimed at runners. This fall, the company is launching REC*IT, an app that provides information about campus sports and recreational activities, at more than 800 U.S. colleges and universities. In December, Moko is planning to release another app, Speakiesy, which provides a social media platform with elements of Facebook, Twitter and Instagram and will only be accessible with a university-specific .edu email address.