Baroda Ventures is the name of David Bohnett’s venture capital firm that usually supports juvenile social media businesses. New and upcoming social media firms only receive backing if there is a money making potential and Fabulis definitely has this.
Fabulis is an exclusively gay social network site that helps men all around the world to meet up, connect, talk about gay issues and all the other stuff that social network sites allow. This is in-keeping with the openness and progressive nature of social networking.
Gay rights have certainly come a long way since the 1950’s. Homosexually used to be illegal but now millions of gay guys from 100’s of countries will be able connect with each other. It is also a nice way for gay-curious guys to find out more information in a friendly atmosphere.
Facebook and MySpace are being labelled heteronormative websites, which only offer bipolar gender and sexual preference identifiers.
What then does Fabulis offer?
- Easy and intuitive Facebook integration for signup.
- Stylish looking interface (similar to Vimeo) that is easy to use.
- Self-tagging that allows you to find others who identify themselves in the same way.
- Photo sharing.
- Share travel/outing plans.
It has event planning similar to Facebook but with an added ‘Buzz’ function. ‘Buzz’ consists of users’ comments on the event.
Fabulis has a very interesting tool called ‘Fabulis Bits‘; this is a system for trading in virtual currency which can be earned through site participation or just bought out-right. You can spend your Bits by performing various actions on the site, for example getting people to join the site.
Like Twitter you can follow someone and they do not have to follow you back.
It seems that as Fabulis is going to be a big hit as a niche network. Jason Goldberg, the creator of Fabulis is going to see some hot competition from its rival GayCities created by Scott Gatz.