Social Networking Watch

Capazoo Blows $25+ Million

TECH CRUNCH -- Mar 19 -- Canadian social network Capazoo has fired most of its staff (60 people) and is heading to the Deadpool. The big issue was fraud amongst the founders, two brothers, who were taking 10% commissions on all funds raised. They took almost $2 million out of the company before reaching more then 10K users and ballooned the staff to 130 staff before starting to do layoffs. FULL ARTICLE @ TECH CRUNCH

Capazoo Pays For Social Networking Time

TECH CRUNCH -- Dec 10 -- Canadian social networking and entertainment site Capazoo pays users for the time they spend interacting on the site. Members can tip other members using "Zoops," Capzoo's points program that can be redeemed for cash. Members also receive Zoops for inviting friends and posting content. But, to redeem Zoops users must join the premium membership program which cost $24.95 or $34.95 per year. Capazoo currently has "over 100 employees" and has taken $25 million in private funding. FULL ARTICLE @ TECH CRUNCH

Capazoo.com Puts Trust In Iovation

NEWSWIRE -- Nov 19 -- Social networking and online entertainment website, Capazoo.com, has implemented iovation's ReputationManager(TM) to ensure the integrity and safety of it's members. Capazoo.com is an online community with its own member-driven economy, empowering members to gain both personal recognition and to generate real money through their site participation. Capazoo will use iovation's device-based fraud management solution to identify and stop known online offenders in real-time before they can create fraud or engage in abusive or other inappropriate activities. FULL ARTICLE @ NEWSWIRE

Capazoo.Com And ComedyNet Partner In Comedy

PRESS RELEASE -- Oct 24 -- ComedyNet will supply comedy content to Capazoo, a social networking website whose members earn both personal recognition and real financial rewards through their participation on the site. ComedyNet is launching a comedy television network in the US and Canada in December. Capazoo users will be able to access behind-the-scenes television content and special features from ComedyNet by logging on to their pages. Capazoo says comedy is the second most viewed online content behind news. FULL ARTICLE @ PR NEWSWIRE