Start up Wahooly starts tomorrow ( Tuesday 31st January ) having used Klout to select it’s members. I realise that this is is all about as clear as mud at the moment !
Let’s start with Klout which is a company ( one of a few that are doing this ) that essentially grades your Internet influence. Here is Klout about Klout:
” Klout was founded in 2008 to help you measure and leverage your influence. We believe influence is the ability to drive action. For example, Oprah’s opinion on literature has inspired millions to read titles from her book club. But you don’t have to be Oprah to have influence. You influence your friend when she listens to a song you recommend on Facebook. You influence your coworker when he checks out an article you posted on LinkedIn and shares it with someone else. Social actions like these are a reflection of influence. ”
Klout uses a ” secret algorithm ” to measure people and brand influence.
A few month’s ago this algorithm was ” modified ” and a lot of people’s ” Klout score ” changed ( many for the worse ) generating considerable reaction from Klout ” members “.
A lot of people say ” Who are Klout and what right do they have to rank my influence ? ” I have my own issues with Klout including the fact that they have a lot of technical bugs that impact people’s scores.
Anyway – let’s get on to Wahooly. Wahooly is a start-up that aims to help start-ups by recruiting ” influential ” people to promote start-ups that they wish to support. In return the influencers get equity ( shares ) in the start-up. So, this is like hiring an Internet Marketing Expert ( Social Media Marketer ) and PR person and paying them in equity rather than hard cash.
Will it work ?? We shall see.
To be a member of Wahooly you needed to have a Klout score of 45 or above ( mine was at the time of selection but has fallen slightly since. I have been as high as 67 in the past ).
More on Wahooly’s use of Klout here:
I am therefore a founder member of Wahooly and a Wahooligan ( as they call it ).
Given that it has been very hard to raise start-up capital in the last few years there have been many new initiatives to help start-ups get going. Equity for influence is just the latest of them. There have, for example , been a whole host of crowd financing ( investing small amounts of money for small amounts of equity ) initiatives.
Obviously Wahooly has a presence on the main social media platforms:
It is going to be an interesting experiment !!