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Recent days social media users are quiet fed up of Facebook ,Twitter ,Instagram platforms where users privacy is violated at times. Keeping this in mind the co-founder of Wikipedia Jimmy Wales launched a new social media network WT: Social which will be free of advertisements and promotions. Wales finds it as an alternative for Facebook and Twitter. He is hoping that people who are really fed up of the current social media platforms will warmly welcome it.
“The business model of social media companies, of pure advertising, is problematic,” Wales said in an interview with the Financial Times discussing his new social media company WT:Social. “It turns out the huge winner is low-quality content.” Wales was referring to the click bait and misleading headlines that have infested social media platforms.
While WT:Social is separate from Wikipedia it's adopting its business model, relying on donations from a small section of users to enable the social network to operate without advertisers. Since its launch in October Wales said the site has received more than 200 individual donations, underscoring how a new generation of consumers will pay for content they deem valuable. He pointed to Netflix and Spotify as two other examples.
WT: Social currently has about 50,000 users, a minuscule fraction of the more than 2 billion active monthly users on Facebook. Wales is hoping to grow the social network between the tens of millions to hundreds of millions of users. “It won’t be massively profitable but it will be sustainable,” Wales told the Financial Times. "The company only has a handful of staff, including developers and a community manager."
Another way this new social media platform is trying to stand out is by posting the newest link first rather than the post with the most likes like on Facebook or Twitter. The site could add a button that will let users recommend stories in the future. “This is a radical, crazy experiment of mine,” Wales said. “I’m happy to say I don’t know all the answers.”
In the current scenario social media users might opt for a change. A change which is the need of the hour .WT:Social is sure to scale new heights as a peaceful platform where the user can get reliable content.
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