Total Prestige, another social network that aims to cater to elite users, plans to raise $1 million from angel investor Frank DeRose. The founding partner of private equity firm Ferrata Capital, DeRose wants the company to help facilitate investments, according to a New York Post story.
Is there a market for elite social networks? The market that rivals like A Small World, DiamondLounge and content-focused sites like Spire.com are already trying to capture in some form? To diversify and attract members, Total Prestige is also looking at hosting events and publishing a print magazine.
From the article:
Since the site launched in late September, DeRose, who is expected to be named chief executive of the company, and Rose Marie Perez, a former model who has run the operation since it was founded, have added 650 member profiles. The list is speckled with European royalty out to promote their charity work and Saudi Arabian oil men looking for clean-energy deals. Recent New York City members include Paolo Zampoli, a modeling agency mogul, and Thomas Kirchner, the managing director of the Pennsylvania Avenue Fund.
This plebe isn't a member of any of these networks, and the people he knows who are don't seem to really think any of them are a big deal. How much money is anyone in this market actually making? If you're in one of these exclusive, invite-only networks, send me an invite so I can do some investigative reporting on the matter: eric (at) venturebeat (dot) com.
In the meantime, I'll take some outsider shots at Total Prestige. Its interface breaks in Camino, my web browser of choice (possibly the choice of geeky elite types, as well). There's more than one typo (no hints -- Total Prestige, do your own copy-editing). And why is the company trying to get publicity through a news article? Why not just network directly with power-brokers and stay behind the scenes like most power-brokers prefer to?
Of course, I'll take everything back if Total Prestige actually helps good companies get much-needed financing. That's what I care about here.