Problem
Social Media Makes $$$, While People Make Nothing
Solution
SoMee Pays People To Be Social
Product
SoMee: A Blockchain-Enabled Social Media Platform
Our decentralized social media platform allows users to earn money by posting or interacting with content.
Since SoMee's system is blockchain-based, users earn money based on the token’s value. The token replicates the value of how much you earn from posting content and for "likes." Currently, the token allows users to make an average of $0.25-0.30 per follower. 50% of the money that is earned on a post goes to the content creator, and 50% goes to those who are liking/commenting on the post.
To earn more on content or likes/comments, users need to increase their "voting power." To do so, they can:
- Earn slowly over time for free ("freemium")
- Purchase Power Up packages
- Connect with people who are already powered up
An algorithm automatically distributes payment and tracks voting power. More voting power means your likes are worth more, so you can distribute more money to people. This creates an incentive for everyone as all parties receive better earnings.
Users can track their digital wallet on SoMee's dashboard.
Traction
Ad Revenue Of $3M In The First Year
SoMee currently has 50k active users, and is projected to grow to 5 Million users by Q4, 2022. We predict ad revenue alone will generate $3M in revenue during 2022. Last year we achieved an average revenue per user (ARPU) of $21.03 with 35,500 users in beta for a total revenue of $746K. This year in 2021 we have 51,200 users and achieved an ARPU of $38.78 with total revenue of $1.98 Million as of Dec 12th, 2021.
SoMee has also partnered or integrated with numerous platforms such as Google Cloud, Ethereum, Civic, Skrill, AWS, etc.
Featured In The Press
Customers
Active Base Of 51.2k Users (As Of Dec 2021)
#BeReal
#SoMeeOriginals
Business model
Tiered-Pricing Packages
Our revenue comes from taking a premium cut of Power-Up Package sales, which come in 4 tiers: micro ($175), moderate ($500), medium ($1,155), and massive ($5,775). We project that 2% of “freemium” users will upgrade to the paid Power-Up Packages in year 1; and by year 5 that will increase to 12% or higher.
In addition to Power-Up Packages, SoMee also plans to charge a membership fee for our AdShare program, as we estimate that 98% of the users who participate and make money from content and likes via the Power Up, Voting Power Packages will also want to participate by purchasing Ad- Share packages. Another revenue comes from verification, which gives users the opportunity to verify their account using an AI-enhanced verification system that automatically adds the blue checkmark to their profile page. Verified users can earn more from AdShare are preferred by advertisers looking to collaborate inside of the AdShare system.
Market
Global Data Market To Grow To $6.1B By 2025
The majority of Americans feel that they do not have control over their personal data, and would like increased control. SoMee allows users to not only have complete control over their data, but also the ability to monetize their data. We operate in a market that is expected to grow from $2.3B in 2020 to $6.1B by 2025, at CAGR of 21.7%.
Our Ad-Share Packages are positioned to benefit from a growing digital advertising market.
Competition
Focused On Privacy, Security, And Ownership Allowing People To Make Money
Unlike other social media platforms, such as Facebook, Instagram, and Twitter, SoMee's decentralized platform offers greater user security and control. User information is not sold to outside parties. Rather, SoMee allows each participant to choose if and when they want to make money from their content and data.
SoMee's micro-blog platform (like Facebook) and user interface makes it much easier for users to monetize content and activity vs. competitors who offer a long form blogging platform!
Vision and strategy
Social Media That Truly Empowers People
We envision a world where social media empowers people with privacy, control, and monetization.
By enabling control over data with more transparency people will be empowered with the tools to choose what, when, and how their private data is handled, while offering the opportunity to tap into the massive revenue streams they are helping create on social media through their time, content, and participation.
Create A Better World For Social Media
By operating on a global scale, not only can we connect users around the world; but also increase the awareness and assistance of those struggling and in need all around the globe. Soon to come is our philanthropic arm: "Social For A Cause".
Immediate Goals
Mid To Long Term
Funding
Received Grants From Amazon And IBM
SoMee has received grants from both Amazon and IBM and previously raised with convertible notes.