Interview with Peter Ward and Jerome Touze of WAYN – 10m member social network you never heard of
Unlike other social networking sites, WAYN was a subscription-based business where users had to pay for some of the site’s features. By keeping the costs down (e.g. by outsourcing all operations to Poland), WAYN was able to achieve profitability through its subscription cash flow.
To take things to the next level however, WAYN decided to change its strategy and to make all core functionality free. This move immediately paid off and WAYN.com traffic tripled in less than one month. WAYN also raised $11m in Series A funding in order to support its growth and bring a number of experienced entrepreneurs on board as advisors. https://aviatorplaygame.com/aviator-game-analogues/lucky-jet/
Today, WAYN is approaching 10 million members and is reinventing its business model by integrating commercial travel features into its social network site.
Peter Ward’s parting words of advice were “stop talking about it and get on with it” whilst Jerome Touze recommended to “stay focused on the core business.”
P.S. Apologies about the occasional noise during the interview, this is due to a faulty mic.
… stay tuned…
blog: weareintruders.tv
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