Bright Things described SocialGO as “a premium platform for creating social-networking sites that enables businesses, organizations and entrepreneurs to harness the power of social media by creating online communities with full content and member control, monetization and customization features,” adding that the platform recently integrated with Facebook and Twitter.
As a result of the transactions, Vikrant Bhargava of Veddis Ventures joined the Bright Things board as a nonexecutive director, while GOWIT directors Stephen Hardman and Alex Halliday are also on board as joint managing directors.
Bright Things CEO Dominic Wheatley said:
We are pleased to welcome Vikrant Bhargava as a board member and are looking forward to benefiting from his tremendous expertise in growing online businesses. SocialGO is experiencing good growth as businesses, nonprofits, educational establishments, entrepreneurs and other organizations increasingly recognize the value of its offering of full ownership and control over membership and content. This is a crucial differentiator when creating a social network that supports a business, brand, cause or interest.
SocialGO has proven its subscription-based business model for creating online social networks with solid month-over-month revenue growth. The company is poised for expansion, and I anticipate 2010 will be a banner year as subscriptions continue to grow.