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| Zurker: Social Network for the 99 Percent? |
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What do you do if your pet enterprise fails? If you're a brave (or perhaps foolhardy) entrepreneur, you build something even more ambitious. Such is the case with Nick Oba. When his contributor-driven online magazine failed back in 2010, he came up with a bigger idea: take on Facebook, but make the members into shareholders. And thus Zurker was born.
As far as I know, no one has ever set up an online social network as effectively a co-op before, and as you'd expect, Zurker's set-up isn't quite that simple. As Zurker's About page explains, Every Zurker user becomes a co-owner (future shareholder) of Zurker. As Zurker hasn't had an IPO or anything of that nature yet, users earn vShares. A vShare is a stake in Zurker; it's the unit of equity the company is allotting to members during the alpha and beta testing phases. They aren't actually stock. vShares can be thought of as agreements between the owners of a startup about the size of thei... Posted: 2012-02-02 18:30:05Author:...
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