Mixi IPO drawing a lot of attention

Japanese social networking site

[bill]

We had mentioned Mixi earlier this summer in the Google comes in 4th in Japan [webmasterworld.com] thread. Mixi is comparable to a Japanese MySpace. It's a social networking site that is growing by leaps and bounds. Although it only has a little more than 5 million members its IPO made its 30-something owner a billionaire the other day.

Japan Web site Mixi shares make high-flying debut [asia.news.yahoo.com]
Mixi's users have quintupled since August of last year, with 5.7 million people using it to chat, post blogs and create message boards to communicate with people who share similar interests -- much like the MySpace.com site in the United States.

It raised $93 million in its initial public offering and Kasahara said he wants to use the funds to keep the company's competitive edge.

[Leggewie]

Hi bill,

I use it, but I don't like it. I think they have no clue about web2.0. They are way too closed. This makes them vulnerable, I believe.

Also, as a person doing business on the web, I think there advertisement prices are outrageous. Even under best conditions, their CPM is around 20€ IIRC. That is absolutely laughable and only somebody with no clue will advertise with them, I would assume.

Regards

Rolf

[bill]

Good to hear from you again Rolf.

I haven't had much time to try Mixi out, so it's good to hear from a user.

When you say it's too closed, do you mean it's too difficult to get in as a member? In what way is it closed?

Have you noticed any improvements since the IPO?

[Leggewie]

Good to hear from you again Rolf.

good to be back ;-) Hope to continue to learn about online business in Japan.

When you say it's too closed, do you mean it's too difficult to get in as a member? In what way is it closed?

web2.0 is all about user-generated content (and being in constant beta ;-)) Content should be reusable and accessible via API. There is no way to use mixi without becoming a member. You cannot publish your diary to non-members and include it in your blog. You cannot access mixi groups as a non-member. Those are examples of what I mean.

Have you noticed any improvements since the IPO?

Well, I noticed that they now include a AJAXy-type memo field where you can scribble down stuff about your contacts. IOW, looks to me just like the cosmetic bull#*$! everybody is doing these days. I am quite sure these people have no idea about web2.0

[edited by: Leggewie at 8:36 pm (utc) on Sep. 29, 2006]

[bill]

The Japanese are pretty conscious of privacy issues these days. Leaks of user data are front page news. People are quite aware of the need to keep personal information private, so the walled garden approach of Mixi is a good fit. I guess the safe image they get from a Mixi clique is a big part of the draw.

It does sound a bit restrictive for my tastes, but I've not been too active on these sorts of social networking sites to begin with...