New Social Network Plugs Off-Line Relationships

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Alex Capecelatro thinks there’s a big flaw in the world’s largest social network: It’s anti-social.

“Facebook might be a good way to connect with your friends, but it’s not great for meeting new people,” Capecelatro said. “The network is built to prevent you from adding people you don’t know.”

Capecelatro, who previously worked as an engineer for Anaheim’s Fisker Automotive, founded a social network last year designed to help make online connections that could lead to off-line friendships. The site, At the Pool, recently closed a $750,000 seed round led by Santa Monica’s Clearstone Venture Partners. The startup is working out of Clearstone’s offices.

Though At the Pool defines itself in comparison to Facebook, someone signing up for the new social network has to log in with a Facebook account. That gives At the Pool access to data from a person’s Facebook profile – things like favorite books and movies, and educational history. The site also asks members to fill out a questionnaire that takes a deeper dive into their personality and interests, and includes the puzzler: “Why are you so awesome?” An algorithm crunches the data and uses it to spit out a new friend suggestion every day.

The centerpiece of the site is, unsurprisingly, a group of “pools” that users can join to find people with common interests. As opposed to Facebook groups, which bring in people from all over the world, the pools are designed to connect people that live nearby. So that pool of people who enjoy hiking might possibly lead to a group of people walking together – like, outdoors.

In that sense, At the Pool’s social network is closer to Meetup.com, a site that helps people of common interests start online groups and plan get-togethers. In fact, Capecelatro said he’s been in discussion with executives at Meetup and said a future collaboration with the site might happen down the line; Meetup could handle a group’s event planning while At the Pool could lead the online community.

Capecelatro sees the site being an ideal fit for businesses, especially in a tech startup landscape, where meeting people socially often leads to a business partnership.

“We’re launching pools around business conferences so people can actually make connections before they show up,” Capecelatro said. “Then after the conference, they can better stay in touch. It’s about building up a culture of connections.”

Investor Demands

You could forgive the employees and shareholders at Santa Monica’s Demand Media Inc. if they’ve been feeling woozy watching the company’s stock price recently.

An analyst at Goldman Sachs Group Inc. on Dec. 4 downgraded the network of web properties, including eHow.com, Livestrong.com and Break.com, from “hold” to “sell.” He made the same move for Demand competitor IAC/InterActiveCorp. in New York, citing the rising prices the companies have to pay to get placement in Google’s sponsored searches.

“We believe, at best, the cost of those revenues will increase as competition increases,” the analyst wrote.

That sent Demand’s stock tumbling 6 percent on the day to close at $8.63.

But the next day, an analyst with Stifel Nicolaus & Co. wrote a note disagreeing with Goldman’s take, and argued that Demand’s traffic from paid placement on Google accounts for a fraction of the company’s overall revenue. After this rebuttal, Demand shares rebounded 4 percent to close at $8.90.

For the quarter ended Sept. 30, Demand posted a 20 percent increase in revenue from the same period a year ago.

Unrelated to battling comments, Demand has also had to deal with the fallout from cyclist Lance Armstrong resigning his position as chairman of the Livestrong Foundation after he refused to fight accusations of doping. Executives at Demand declined to say whether Armstrong’s public troubles has harmed the brand. Livestrong.com licenses the name from the foundation, but executives said Armstrong has no financial connection with the site.


Tech Titles

ValueClick Inc. announced last week its chief executive has retired. James Zarley, 67, has been with the Westlake Village digital marketing company since 1999 and served in the position until 2007. He returned again as chief executive in 2010. John Giuliani will be taking Zarley’s place. Guiliani was previously ValueClick’s chief operating officer and currently sits on the board.

Staff reporter Tom Dotan can be reached at [email protected] or (323) 549-5225, ext. 263.

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