‘Social media is broken’: Meet the platforms forging a new path
A wave of platforms are hoping to take social media in a new direction, mixing community and wellbeing with revamped funding models.
“We exist because social media is broken,” explains founder and CEO of WeAre8, Sue Fennessy. The social media and advertising platform, backed by the likes of Channel 4 and former Manchester United footballer Rio Ferdinand, has made it its mission to switch up social for brands and users.
Fennessy was originally the co-founder of Standard Media Index, which built systems that were used by big media agencies to track ad spend. In her former role, she saw the amount of money going into platforms like Facebook, noting little pay off for the advertisers themselves.