Investors are hunting for social media startups that can spark new connections and nurture existing ones.
“Social media companies started based on connection,” Shawn Carolan, a partner at Menlo Ventures, said of the previous wave of giants like Facebook and Instagram.
Carolan said these companies “evolved into media companies” and abandoned that connection.
That leaves an opening in the market.
Venture capitalists at major firms like Menlo, Forerunner, and A16z have several investors dedicated to backing new and innovative internet startups. Other firms, like Verdict Capital and Premise, were founded by partners at firms like General Catalyst…
