It’s not the first social network that caters to wealthy people only, and it won’t be the last: Affluence is the latest company to take a crack at building a community site exclusively for the rich and famous among us instead of the petty riff-raff that make up the bulk of internet users.
Unlike its most famous competitor aSmallWorld (there’s also Diamond Lounge and Qube), Affluence doesn’t require you to be invited in order to be eligible to become a member. No, you can simply register, free of charge. That is, if you can demonstrate you have a minimum household net worth of $3 million or a minimum annual household income of $300,000. Or if you have 5 other people who qualify tell Affluence that you are upper class enough to become a member of the virtual country club; that should do the trick as well.
Once you get into the network, Affluence promises to make your wealthy lifestyle even better, offering you access to a dedicated “Concierge” who will assist you in spending your money on the right luxury hotels, restaurants and nightclubs, make sure you attend the most exclusive parties and events across the globe, and gives you access to a proprietary luxury print magazine called Affluence Magazine. It’s a social network, so you also get to mingle with other millionaires and billionaires. I didn’t get in, but I’m pretty sure you can’t attack other socially elite people with virtual zombies (I’m still digging for confirmation on that).
All kidding aside, I’m convinced there’s a genuine need for this type of service, and ultimately it’s the personal experience of the members that counts. Some day, I hope to tell you what that personal experience feels like. Until then, you can take a look at the screenshot below, which shows the profile of Affluence’s President and CEO Scott Mitchell.
There is a social network for everybody, this proves it. Interesting idea, I wonder how the affluent will react to social media, we’ll see I guess.
Matt
Does there really need to be a social networking site for every niche out there?
How many people are just going to crack there system and start spamming the heck out of the rich people and thats a potential market to hit big time.
Also what is there revenue model? Getting very tired of companies not having a revenue model to support themselves and not all rich people throw there cash around to pay for a service that doesn’t do to much.
Advertising (on the site and in the magazine).
i’m surprised none have done any commercials yet…
-Jim
http://www.movi...nlineforum.com/
(just getting started so check it out)
If the key theme for the group is to be socially conscious…then I wold be interested. Otherwise, there are many other ways to mingle and socialize with other affluent folks.
whats the point of this whole thing??!! I mean there aren’t as many millionaires as there are average people…. and by not letting an average person to become a member,,, i don’t think there is any monetization potential for this network….. and then its free….!!!! how many users maximum could you possibly get??? ITS ALL CRAP!!
The point is to sell things to rich people, either explicitly or via advertising. QED.
Sometimes it’s about quantity, sometimes it’s about quality. Sometimes it’s about both, sometimes it’s about neither.
The Tao of Robin…
Deep like a well….
Akmal, do not forget about the 80/20 rule (pareto principle) in economics.
It’s 80% of the wealth in the hands of 20% of the population.
I guess affluent people must really like spam and readily respond to it. I’ve received 50 plus requests to join and they just keep coming.
I’m, of course, affluent, affluent in good will towards my fellow man but that’s soon coming to end if affluent.org keeps spamming me.
I think they may need to invest a bit of money in their architecture – the site is currently unavailable.
Either that, or my browser headers aren’t exposing enough bling.
http://www.affluence.org/
Re: #1, so how does Mark Cuban find time to blog?
I can’t even browse the site right now!!!
1. Millionaires do not have time for social networking. Chance of a millionaire sitting down in front of a computer to network is as high as my 90 year old grandmother using Facebook.
2. Millionaires do not like to be contacted by some random guy even if he was your high school buddy.
3. Millionaires prefer face to face or referred by their very close friends, which normally happens face to face anyway.
4. Like Akmal said, how many millionaires are there to even make up a network.
You are wrong.
Point 1 is not exactly true. Some of them are very active when it comes to using computers.
My clients bug me quite a bit when Internet doesn’t work in some remote location on this planet.
The rest of your points are accurate.
Stereotyping much?
There are more than few low millions millionaires out there.
From your comment it seems that you think millionaires don’t care for the Internet and become antisocial assholes. Why?
I think they may need to invest a bit of money in their architecture, I agree with Matt!
http://notebooksplanet.com/en
It is a dumb fucking idea. That is what TV and camera hounds are made for. Chasing down rich people and letting them famous.
Then again if you are a lonely rich dude or gal you may want to social network within your own income bracket beyond facebook I guess it may not be such a bad idea.
So every rich person is (or should be) famous? You’d be surprised sometimes of how low profile millionaires can be. Rare, but it happens
Robin, as you can see, most of the comments here are negative. Why do you keep defending this company/site? Are you an investor? Nothing wrong with it, but if you are, you should disclose it.
Hans
Nothing to disclose.
I’m not necessarily defending the company, just responding to statements made in comments that I think are off base.
BS. How is it off base? Dude rich people do not need a friggin social network as lame as this one. It is just that simple.
Plus the design also looks like shit. Worst they use .org. What it is some charity site? get real, or beat it as you obviously do not know shit about social networks or websites period.
You should be taking notes and not commenting.
well..with the economy the way it is – i wonder how many people aren’t qualified anymore..
stupid stupid stupid. facebook friend networks are more than adequate for excluding others and including the right people. this will fail just like social networks for artists, social networks for grandmothers, social networks for dungeons and dragons fans . . .
“social networks for artists”
what, like deviantart?
DevaintART rocks!
That could certainly work. That’s not outrageous net worth in this day and age. If you wanted to weed out the muggles just charge $1K to sign up. Simple as that.
I can’t wait to hear of their first data breach. Financial proof to be a member? You know they’re keeping that stuff on-disk, which will wind up being valuable for someone, either spammers (if Affluence isn’t one already) or identity thieves.
I’m thinking that this whole thing might be a scam. Their concierge is obviously going to suggest the products, services, and events from the site’s advertisers. It seems like an effort to make people seem like VIP, but ultimately this company is making money by guiding their wealthy clientele with a kick-back of some sort. I’d never let any web site tell me how to spend my money.
1. unless you have so much money you don’t know what to do with it!
2. well, duh.
What’s amusing about that remark is that approach will absolutely fail to work.
Check out the Concierge services offered by American Express. I know people who rely on them heavily.
I’d be amazed if this site has anywhere near the resources of just those two companies. A Black Amex card is instant passport to fun. There are all kinds of exclusive things for Centurion card holders.
I can’t imagine that CEO-types will want their information out there (more than it already is), or that they will want to spend the time to build online relationships. Any who felt they should do it would likely delegate it to a staffer. It would have to go under “worst part of the job” for that person I would think.
This seems Enron-era and icky to me. Isn’t there some weariness of ostentatious displays of wealth? If anyone would be into an elite community like this, I would think it would be celebutantes and their ilk, no?
Yeah, why not. You may be surprise how many niche social sites there are (e.g. Disaboom, Fabulously40, Goodread) and with technologies like Squidoo and Ning, anyone can have one. It is not all Facebook and LinkedIn.
Hey, I’m all for staring at Jessica Alba on iBeatYou but it is not hard to believe celebs and uber rich wanting there own piece of cyberspace… at least their ads will be better. No Whack the Mole, Win free Nano.
I’m still waiting for that damn nano…
Luxury social networks are an interesting topic in general.
The theory is that you can attract some high dollar advertisers if they know the network only allows big spenders to join.
In reality, these networks are hard to maintain… as they end up a means for “the rif raf” to reach the “top tier”
I’m a member on asw and qube. Not bragging, it wasn’t a huge deal to get on (maybe because I’m an expat).
They have a pretty active forum, great for gold digging in general. Some of the people on there are pretty cool… there are meetups around the world… as with most forum based sites they tend to be dominated by the loudest and least pertinent people on there.
In short, cracking the code to keep it exclusive is key. For example… every assistant (think Lloyd from Entourage) in LA is on it. Any hot girl doesn’t have to look far for membership either.
ASW used to be super exclusive, but as they needed to reach a critical mass with members they started loosening up the policies. And the “inside circle” factor was lost.
For a good forum experience, I quite like teamspeed.com … its more of an old school tightly managed topics forum + sponsors system but with good moderation, self policing and organically growing member pool. Yes its “luxury auto” based.. but people who spend the money of a 911 also spend money on other things, and the topics reflect that.
Will be interesting to see how this thing grows. I registered just to see if I get in (using real info).
g
Thanks for sharing Gary, I found this even more informative than the original post!
Jon
http://WoodMarvels.com – Create Unique Memories
Great social network .Its a good idea even unique. As social network is growing u never know one day web will be crowded with all social networks .so we should have network that differentiate people like us .one must have place where we can meet more & more people like us .it really make life easy i must say http://www.affluence.org/ is affluent …..
Yo dawg I herd u like money so we put some money in your money so you can post while you post.
Yo dawg I herd u like comments so we put a comment in your comment so you can read comments while you read comments.
You sound like a Tech Negro from Jamaica
This is a business?
First of all, the entire addressable market is relatively small, and getting smaller if the headlines are any indicator.
Then, the numbers of those within that market who are so self-impressed with their own wealth and status who might want to be part of an exclusive online enclave are even smaller.
And finally, finding those few individuals (gold-digging blondes in LA and Eastern Europe notwithstanding) and compelling them to join because of some “concierge” service that they can get just by calling Amex will be prohibitively expense. And if they are hoping it goes “viral” within the ranks of the rich…um…pray for them.
Clear a spot in the Cesspool. Ooops. I meant Deadpool.
I get so many invites to this
After sign up, but pending complete verification
>>It is possible we were unable to verify your income or net worth information. Please click here to find out how to send us documents providing proof of your net worth or annual income information.
<<
Somehow i don’t think i’m that interested to potentially share my financial details with a 3rd party that i don’t know – I only just trust the bank and the inland revenue!
Yawn… How about a social network for people who are poor…
Isn’t there one already? If memory serves me right it’s called Wall Street!
That site reminds me of Orkut =/
So with all of these Computer Scientis, all of these MBA, PHD, Masters in the business community, where has this gotten us?
Kind of an uneducated generalization, don’t you think?
I don’t think so. Seems to me the current economy is a big NO on academia. Guy’s aren’t batting a high average, and quite honestly what passes for innovation in the valley the majority of the time is laughable… I will argue that business plans with more validity came out of the 90’s dot-com with a less educated work force.
asshole! dont quit your day job!
Thank you for proving my point.
Just to let know, there is another social network launched last december called the-sphere.com. No invitation needed, but seems to have strong selection, and a 3000€ annual fee. They offer exclusive services (concierge, jet location, etc…). It really seems there is a need… rich people may feel lonely too it seems
why good sites are spaming like this ? i did not see this spamming but i am hearing from the comments and these are making me sad
My god, what a useless site!
WARNING! This site sends spam to all of your contacts!!!
this is the worst social network site ever. Scott Mitchell the ceo is the biggest con artist of all the time.
I think a lot of peoples’ social envy is clouding their judgment.
This is a fantastic idea (execution is another matter). First, the rich are like everybody else. They’re not from another planet. That means they like to relate with people like themselves. Why do you think Will Smith and Tom Cruise are always hanging out? Why do you think Oprah and John Travolta are tight? Why are Bill Gates and Warren Buffet such good friends? Why do movie stars date other movie stars? Why are Michelle and Barack Obama both Harvard grads?
So yes, people do want to attend the same high-society parties as other rich folk. They like having each others’ contact details. They like to do business with each other, holiday at the Hamptons together and meet up to play golf. As long as the features of the site cater to the social needs of this group, it’s a fantastic idea.
And the idea that you need a lot of users to succeed is ridiculous. Just ask Rolex or Lamborghini if they’re profitable serving a small target market.
Now, like I said, execution is another matter. The name- Affluence.org- is vulgar beyond belief, because cultured rich people generally don’t like to go around calling themselves affluent. Maybe they’ll get a few Colombian drug lords or Russian oligarchs to sign up, but don’t count on Donald Trump opening an account.
In short, a good idea- but I don’t think these guys in particular are executing it right.
Donald Trump is the most flamboyant rich person I have ever seen. I like the domain Affluence.org but would have hated the word Affluence.com. The .org tells me that they want their members to have a cause.
$300k income is more like upper middle class these days. This doesn’t sound all that exclusive.
i can’t wait to join – just a few 100K short…
I’m a member and it is the most useful new site I have been on in years. I used to be a Facebook and LinkedIn junkie but there was so much spam, so many job hunters, so many people looking for financing a hair-brained idea, that I just couldn’t take it any more. The key to this site’s success so far (and I can’t handicap any better than anyone else here whether it will ultimately be a success or failure) is exclusivity and verification.
One note on whether this site is a worthwhile idea or not…. Look at how many people commented on this post in just one day!
I hope everyone has a spectacular weekend!
Hmm, I think they built this using Joomla! — I would have thought it would be a full-custom solution. After all, millionaires can afford a lot of software development, right?
Ah, it’s actually Joomla! married with Social Engine. Touche Affluence — good choices, IMO.
For what its worth, I am trying to invite everyone that I see apply for membership today to my friends list on Affluence as I know this helps in getting the approved. Affluence also approves the “Influential” as well as the affluent which I didn’t see mentioned here. I don’t know exactly how they gauge influence, but I do know that members inviting you to their friends list helps.
@Jennifer:
How is it that you are able to [invite everyone that I "see" apply for membership today to my friends list on Affluence]?
How do you “see” them. Do you work for Affluence?!
There is a “Latest Applicants” list on their networking page where you can recommend people for membership or add them to your friends list.
Hey JLC can you approve us or recommend us ..so we can get on faster?
This seems like a good idea, but it’s going to be all in the execution. They need to have a compelling argument for members to sign up, and if this becomes a status symbol or really useful, I can see them being successful.
It is interesting how they took the “org” approach.
I’ve done some research on this company before. It’s actually one of the first publicly traded social networks. From what I understand the dot-org approach is to compliment their strong focus on social consciousness. They report that they donate 15% of their media (print and online) to charities and non-profits and their “make life better” slogan is all about generating “social wealth”. A friend of mine is on this site and he says their is a lot of green energy talk and charity chit chat that happens but it is also a great place to get “deals funded”.
The think I find most intriguing though is that they “validate” people.
How can they know that you are rich enough or not?
Real rich people don’t show you their money.
I just find this to be such a strange statement. If this were even close to true than how do they have exclusive country clubs, private schools, boating clubs, etc. The fact of the matter is that many organizations require minimum net worth requirements to get in.
I’ve never heard of Affluence before this article (just filed out an application) but my husband and I fall well into the “bracket”. As it turns out, we have things like Bank References from our banker, brokerage statements, and personal financial statements on hand that we use for things like this.
I LOVE social networking and the chance to do it in a closed environment with my peers free from many bothersome but polite spam from others is simply compelling to me. It is something that so many people take for granted. Once you post a photo on Facebook coming out of your new Jet you’d be suprised how many people want you to invest in their new Multi-Level marketing scheme or want a job or a loan or invest in their new rock band or whatever….I can go on for days.
THIS IS SIMPLY A GOOD IDEA
I drive a Dodge Stratus!
Looks like wealth and style don’t go hand in hand these days. Cheap, generic, dull design and icons combining at least 3 different styles is what I see in the first few seconds. Okay, it’s me being a bit twisted and yes, I know its networking that matters here. But then again, I guess none of the members go out socially dressed with pink slippers, g-string, and a cowboy hat…
It is an amazing thing…to see such negativity towards people that you don’t even know… perhaps the negativity stems from the fact that YOU(and YOU know who you are!) are simply jealous. Jealous that you did not think of this concept, Jealous that you are not in the bracket needed to belong or even apply, Jealous that YOU are not among those people in the world that see the cup half full… it would behoove the world and YOURSELF if you tried to find one positive thing to say…or “say nothing at all”
enjoy your day!
Have you ever heard of the “middle class millionaire” or the “millionaire next door”. There are over 1 million millionaires in the US alone.
This is a phenomenal idea, especially with the verification. It’s essentially a virtual country club. It’s one of those things that when you read, you just slap you hand and say, of course.
People! Having a site with well targeted demographics, especially one you know can afford to buy stuff, will always have a purpose.
They may or may not make it, but the idea is sound. You and I aren’t getting in, but that’s not the point for them.
This concept is long past due. I’ve already applied. Good article too!
A website like this would only need 10,000 – 20,000 people to really hit critical mass in my opinion. I think there is something like 2 million people worth over a million in the US and tens of millions around the world.
Absolutely brilliant idea. How do they verify people though?
I’ve heard this site has a lot of celebrity types on there. That has got to help with growth.
They don’t check. I stated my income was $500k+ and my net worth was $5m+ and my address was in a different city. None of it is true. My account just got approved.
@Richard
Can you tell us about the features/functionality? I entered all high information and I got rejected.
Frankly, I didn’t see much of anything worth while. Just a place “to be seen.” Shortly after posting this they actually yanked my membership.
It doesn’t really matter much anyways. Here in about 3 months, what I posted would be true.
The site is actually quite slow for being PHP. I wouldn’t waste my time with it even when I have the money.
I was rejected also
And I borderline qualify.
I applied three times, and only got accepted after the third try and I had to speak to someone on the phone and fax a document to them. The entire process took almost a few days.
It would be nice if they turned these around quicker if they want to continue to be successful!
do they take jews?