Baby boomer social network TeeBeeDee implodes

July 6, 2009 | Camille Ricketts | Comments | |

teebeedeeTeeBeeDee, the online social network tailored to the over 40 set, is going out of business. But instead of blaming the poor economy like so many of his peers — CEO Robin Wolaner says the site’s business model wasn’t able to grow its userbase big enough and fast enough to survive, reports VentureWire.

Things began auspiciously enough, with the company raising $4.8 million in a first round of funding two years ago. But, as Wolaner says, there just didn’t seem to be a way to tap into the baby boomer market more substantially. It topped out at 200,000 unique monthly visitors and 9 million monthly page views. Successful social networking sites tend to have five to 10 times this amount.

TeeBeeDee was unable to raise additional venture funding and soon ran out of steam. It had even introduced a virtual goods system — much like Facebook’s gifts — to bring in additional revenue, but it didn’t add up. The site will officially be taken down in two weeks.

Based in San Francisco, the company is looking to sell off its web site and assets. It previously raised capital from Shasta Ventures and Monitor Ventures.

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About the Author, Camille Ricketts

Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.

With GreenBeat 2009, VentureBeat's all-star conference on all things Smart Grid, coming up in November, Camille will be expanding coverage of this exciting space. Stay up to date by following @greenbeat2009 on Twitter or by becoming a fan of the event on Facebook here.

  • I understand the thinking behind trying to corner the over 40 niche, but I don't understand why someone would go to TBD over a facebook or a twitter?
  • JB
    Uh...Camille...Robin is a she. Might want to do a little fact-checking before assuming next time.
  • Camille and Robin you may or may not know that a baby-boomer is 50+, not 40+. And baby-boomers are not as tech savvy, or tech willing as other demographics, so they tend to stay with what they are familiar.

    Most of all, and most unfortunately, advertisers do see the value of advertising to their only loyal demographic, half of whom are seniors, the 65+.

    Also, no one in their 40's wants to be called a "boomer". It's not their generation.

    I know, I've been Editor-In-Chief for the longest on-line magazine for the mature market. seniorcitizensmagazine.com and we syndicate to the boomer audience.

    Norman
  • From my book Advertising to Baby Boomers, 2005/2007:

    Web pundits are drooling over social networking sites.While this business
    model is successful and will continue to be, I’m not convinced
    that people over fifty really care about la-de-da virtual socializing.There
    has to be a reason to join and hang out other than simply being a
    Baby Boomer. Sites that center around specific interests like gardening,
    politics, health, travel, dating, food, art, sports, real estate, education,
    grandparenting, volunteering, mentoring, etc. will attract a 50+
    base. But few want or need to simply hop online and proclaim,“Hello!
    I’m Joe and I’m a Baby Boomer!”