MySpace, meet buySAFE

What with all the attention being paid to Web 2.0 companies these days, an e-commerce company can feel a little left out. But today, one of buySAFE’s investors, Jonathan Silver, gave us props in a Marketwatch article about MySpace's possible IPO and the concurrent search for the next web phenomenon. Some investors think the answer lies in video. Jonathan says "Video really transforms the social networking sector," he said. "It provides a sensory perception and changes the dynamics of what those sites do. ... It changes the selling experience. You'll see a lot more video in all kinds of retail-related Web sites."

But will video alone assure shoppers a great online retail experience? The article goes on to state:

"Core Capital decided to position itself behind the transactional ability of video sites with a founding stake in buySafe.com, a new online-bonding agent to help buyers feel safe with unknown merchants.

"When you buy something online with a merchant, buySafe has done the work to check out the vendor," Silver added.

"As for the rest of the social-networking sites, he sees more acquisitions in the future than IPOs because many of the sites, although popular, are too small for a stand-alone stock offering.

"The success of MySpace will drive other larger, established media companies to examine whether and how they could play," he said. "Usually, that means buying a smaller company."

Comments

Let me clarify my comments a bit. The writer and I were discussing social networking in general and the role technology plays in that process in particular. My comment was about how important video has and will become to the whole internet experience, including social interactions and ecommerce. I was not referring to a consumer's interest in bonding a video purchase but to the consumer's ability to get a better and more comprehensive view OF ANY potential purchase through the use of video. Its one thing to see a picture; its another to see full motion video. I believe that video inserts will become prevalent in much of the ecommerce world as a way to make consumers even more comfortable with their purchases.
Hope this helps!
Jonathan

[Morra]

When I first read that it seemed counterintuitive- but think about it in terms of general protection. Identity protection. Wallet protection, credit card protection. Also think about it: every major media company from News Corp to NBC is figuring out how the hell to monetize this stuff and make it pay, while still accessible. Want to ask Jonathan?

[Brian Smith]

Huh?

Can you explain he "transactional ability of video sites" to me? I'm not going to 'bond' a $1.99 purchase through Google Video or iTunes or MySpace. YouTube is focused on an advertising or sponsorship based model. No transactions there. Shopwiki has video reviews, but I'm still purchasing at a retailer.