Industrious Kid, the parent company of tween social network imbee.com has purchased back part of the financial position of its lead investor Steamboat Ventures, the venture arm of the Walt Disney Company.
Imbee.com is a social networking and blogging destination specifically designed for kids from ages 8 to 14.
Jeanette Symons, CEO, Industrious Kid made the following comment, "At Industrious Kid our focus has always been to develop a unique, less commercial online community where the emphasis is placed on kids creating and sharing with their friends, while their parents would have access to those much needed insight and control features related to their child's communications or content development activities.
Unfortunately, Steamboat Ventures wanted to focus more on the commercialization of imbee.com through the selling of virtual goods. The imbee.com team felt that we needed to part ways, so that we could continue to build a community less focused on trying to get our young users to spend their allowance online."
As the monthly traffic figures above show, Imbee is struggling to get any traction and both the investors and Imbee should be concentrating on attracting users and not the business model. With little traffic, building a community will be difficult as will selling virtual goods.
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