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Empire Avenue: The Social Stock Market
At it’s core, Empire Avenue is a quick and effective way for people to expand, engage and evaluate their social networks. The company views itself like “social media rocket fuel” as depicted in it’s branding and graphics. What’s cool is that it’s powered by a social stock market where share prices are determined by engagement and activity across social networks, “shareholders” earn virtual currency based on said engagement. For website owners it’s a great way to gain new audiences, drive traffic and measure the results of your efforts.
Anyone who wants to get more out of their social networking should find Empire Avenue useful. In particular, it’s valuable for communicators, social media managers, small business owners active in social media and bloggers–really, anyone who uses social media as part of their job.
The idea of the social stock market is really what spurred the creation of Empire Avenue–the concept of a market where people and their ideas and their contributions to society have tangible value. Investors liked it enough to pump $1.4 million into it ($200k seed, $1.2M Series A).
Since launching, the site has undergone a slight shift in direction after noting most members were using the site to meet new people and drive engagement with their online properties. The big reason why Empire Avenue works is because it motivates. It gives people a reason to be more engaged with their social networks.
The fact that Empire Avenue brings together network expansion, social engagement and measurement tools is perhaps the most important bit. From one site you can connect with people on all sorts of networks (currently 10, including Facebook, Twitter, YouTube, Google+, Instagram and more).