With support from Larry Krauss of Terracap, Hilco Streambank, and other seasoned business leaders, Tsū will challenge social media incumbents to provide the missing tools and platform for today’s influencers
Tsū Inc., the social media platform that disrupted the industry, has been acquired by seasoned business leaders with the intention of relaunching the platform. Despite being one of the fastest growing social media companies in history with 1 million registered users in the first three weeks and an impressive 3.5 million in the first six months, Tsū shut down in 2016. Now, as influencers look for a platform that treats them as equals, Tsū is returning to help them monetize their audiences and reach their communities more efficiently and effectively.
In June 2019, Amazon’s Twitch Interactive made a similar purchase when it acquired Bebo, an early player in the social media space. That decision also recognized the value of innovations and insights from the dawn of social media on today’s varied, challenging landscape.
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The new Tsū will leverage the original site’s technology stack and follow its vision of creating a revenue sharing model. Users’ dividends are based on the average number of monthly followers they have on the platform, providing a strong incentive for users to join and connect with friends and influencers. Tsū’s updated, cutting-edge advertising technology, unique content creation center with powerful editing tools, sustainably redesigned revenue model, and personalized user storefronts pave the way for Tsū’s long-term profitability and popularity.
“While we do not typically share the details of large private transactions, we believe that Tsū was a unique asset as a social network, and had a brand reputation for aligning with content creators and influencers. Since our inception, Hilco Streambank has understood the value of investing in businesses with established technology and a positive brand reputation in the marketplace,” said Gabe Fried, CEO of Hilco Streambank. “When we see the largest internet companies buying social media companies similar to Tsū for tens of millions of dollars or more, it validates the value the backers of Tsū are getting with this acquisition. We look forward to seeing how Tsū will evolve, as well as the impact this will have on larger industry players which have historically tried to compete with smaller competitors.”
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“There could not have been a more perfect time to make this investment to purchase the Tsū assets and I believe there are enormous growth opportunities here. The current social media landscape has created a market that is in disarray, and Tsū’s reentry will turn the industry on its head. As we’ve seen with the recent $25 million acquisition of Bebo by Amazon’s Twitch, there is tremendous value in building on the foundation of a company that has a proven track record of success. When Tsū was first opened to the public and achieved historic growth rates higher than any other platform, including Facebook and Twitter, we were given incontestable proof that this model is something users want. Now, with a sustainable revenue model and enhanced technology, we are confident Tsū’s value will increase exponentially as we bring it back to market,” added Larry Krauss, CEO of Terracap and Tsū board member.
“While the largest social media players are favoring advertisers over consumers, Tsū believes in giving content creators, influencers and all our platform users an opportunity to earn advertising dividends from the valuable content they are creating. The new Tsū model will put content creators and influencers in alignment with Tsū on a revenue basis. We intend to release further information to our large and growing list of influencers that have begun to pre-register and build profiles soon. We are looking forward to a launch that shifts the social media paradigm forever,” added John Acunto, CEO of Tsū.
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