Hi5#Criticism

The company was founded in 2003 by Ramu Yalamanchi.{{Cn|date=April 2024}} It was profitable in its first year.{{cite news | url=https://www.cbsnews.com/pictures/then-and-now-a-history-of-social-networking-sites/6/ | title=Then and now: a history of social networking sites | publisher=CBS News}}

By 2006, it had become the 8th largest social networking service.{{cite news | url=https://mashable.com/2006/07/16/hi5-another-massive-social-network/ | title=hi5, Another Massive Social Network | first=Pete | last=Cashmore | date=July 16, 2006 | work=Mashable}}

Prior to 2004, the company had raised $250,000 from angel investors.{{cn|date=April 2024}}

By 2007, it was the 2nd largest social networking service after Myspace.{{cite news |url=https://techcrunch.com/2007/01/20/hi5-traffic-surges-may-be-second-largest-social-network/|title=Hi5 Traffic Surges, May Be The Largest Social Network | first=Michael | last=Arrington | work=TechCrunch | date=January 20, 2007}}{{cite news | url=https://economictimes.indiatimes.com/tech/internet/7-social-media-sites-that-failed-to-become-a-facebook/hi5/slideshow/58881847.cms | title=7 social media sites that failed to become 'Facebook' | work=The Economic Times | date=28 May 2017}}

In 2007, the company raised $20 million in a series A round from Mohr Davidow Ventures, as well as $15 million in venture debt.{{cite news | url=https://gigaom.com/2008/01/29/419-social-net-hi5-raises-15-million-venture-debt/ | title=Social Net Hi5 Raises $15 Million Venture Debt | first=JOSEPH | last=WEISENTHAL | work=Gigaom | date=January 29, 2008}}{{Cite news |url=https://techcrunch.com/2007/07/22/social-networking-site-hi5-takes-20million/ | title=Social Networking Site Hi5 Takes $20 million | work=TechCrunch | date=July 22, 2007}}

In 2008, comScore reported that hi5 was the third most popular social networking service in monthly unique visitors behind Facebook and MySpace.{{cite press release| url=https://www.comscore.com/Insights/Press-Releases/2008/08/Social-Networking-World-Wide | title=Social Networking Explodes Worldwide as Sites Increase their Focus on Cultural Relevance | publisher=comScore | date=August 12, 2008}} It was also the fastest growing social network.{{cite press release | url=https://www.businesswire.com/news/home/20080723005871/en/hi5-Fastest-Growing-Top-10-Social-Network-World-2008 | title=hi5 Is Fastest-Growing Top-10 Social Network in the World for First Half of 2008 | publisher=Business Wire | date=July 23, 2008}} However, international growth of Facebook later hurt hi5.{{Cite news | url=https://www.businessinsider.com/the-third-largest-social-network-behind-facebook-just-gobbled-up-hi5-2011-12 | title=The Third Largest Social Network Behind Facebook Just Gobbled Up hi5 | first=Matt | last=Lynley | work=Business Insider | date=December 14, 2011}} It was most popular in Latin America.{{cite news | url=https://venturebeat.com/2008/06/03/the-latin-american-social-networking-wars-market-leader-hi5-has-been-growing-but-so-has-facebook-and-sonico/ | title=The Latin American social networking wars: Market leader Hi5 has been growing, but so has Facebook — and Sonico? | first=Eric | last=Eldon | work=VentureBeat | date=June 3, 2008}}

The company had gained significant market share in Europe, Latin America, and Asia, and Mary Meeker had cited hi5 as the 10th largest site in the World in her 2007 Technology / Internet Trends report.{{Cite web | url=https://angel.co/p/ramu-yalamanchi | title=Ramu Yalamanchi | publisher=angel.co}}

Bill Gossman was appointed CEO in April 2009,{{cite news |

url=https://venturebeat.com/2009/04/24/bill-gossman-is-social-network-hi5s-new-chief-executive/ | title=Bill Gossman is social network Hi5's new chief executive | first=Eric | last=Eldon | work=VentureBeat | date=April 24, 2009}} and at that time, hi5 refocused itself as a social-network game platform and opened itself to new game developers.{{cite news | first=Douglas | last=MacMillan | url=https://www.bloomberg.com/news/articles/2010-03-12/social-network-hi5-gets-its-game-on | title=Social Network Hi5 Gets Its Game On | work=Bloomberg News |date=March 12, 2010}}

In early 2010, hi5 acquired social gaming company Big Six.{{cite news | last=Rao | first=Leena |url=https://techcrunch.com/2010/02/24/hi5-acquires-social-gaming-company-big-six/ |title=hi5 Acquires Social Gaming Company Big Six | work=TechCrunch | date=February 24, 2010}}

In 2010, it announced it had raised $3 million convertible note from existing investor Mohr Davidow, bringing the funding up to $38 million.{{cite news | last=Rao | first=Leena | url=https://techcrunch.com/2010/04/01/social-network-hi5-raises-23-million-in-funding/ | title=Social Network hi5 Raises $3 Million In Debt From Mohr Davidow | work=Techcrunch | date=April 1, 2010}}

In October 2010, hi5 announced Sociopath, a set of developer tools designed to make it easier for developers to bring their game to the hi5 platform. A major part of the program was the implementation of Facebook compatible APIs, which simplified the process of bringing games already developed for Facebook to hi5. Sociopath also introduced anonymous play to the site, making it easier for gamers to play games immediately without first having to provide registration info.{{cite news | url=https://venturebeat.com/2010/10/06/hi5-unveils-sociopath-game-platform-in-bid-to-steal-develoeprs-away-from-facebook/ | title=Will Hi5's new SocioPath game platform lure developers away from Facebook? | last=Takahashi | first=Dean | work=VentureBeat |date=October 6, 2010}} Sociopath was initially introduced at GDC Online in 2010.{{cite news | url=https://www.gamedeveloper.com/game-platforms/gdc-online-hi5-debuts-sociopath-social-gaming-platform | title=GDC Online: Hi5 Debuts SocioPath Social Gaming Platform | last=Caoili | first=Eric | work=Gamasutra | date=October 6, 2010}}

In July 2010, the company raised $14 million from Crosslink Capital.{{cite news | url=https://venturebeat.com/2010/07/13/hi5-raises-14m-as-it-shifts-into-social-games-and-virtual-goods/ | title=Hi5 raises $14M as it shifts into social games and virtual goods | first=DEAN | last=TAKAHASHI | work=VentureBeat | date=July 13, 2010}}

In January 2011, Alex St. John joined the company as President and CTO.{{cite news | url=https://venturebeat.com/2009/11/30/hi5-recruits-a-beastly-gaming-veteran-as-its-president/ | title=hi5 recruits a beastly gaming veteran as its president | first=Dean | last=Takahashi | work=VentureBeat |date=November 30, 2009}}

As a companion to Sociopath, hi5 introduced Sociopay in early 2011. Sociopay was intended to help hi5 to better monetize users, increasing revenues for themselves and developers. Sociopay automatically adjusts the prices for hi5 coins based upon a user's region, capitalizing on hi5's international success and helping to monetize users from many different economies. Sociopay also helps monetize users less likely to purchase coins by instead serving them advertisements.{{cite web | url=https://www.gamezebo.com/news/talking-sociopath-and-sociopay-with-hi5s-alex-st-john/ | title=Talking SocioPath and SocioPay with Hi5's Alex St. John | last=Brodie | first= Joel | work=Gamezebo |date=February 28, 2011}}

In December 2011, the assets of the company were acquired by Tagged.{{cite news | url=https://www.bizjournals.com/sanfrancisco/news/2011/12/14/tagged-buys-shadow-of-hi5-of-yore.html | title=Tagged buys assets of Hi5 | first=Patrick | last=Hoge | work=American City Business Journals | date=14 December 2011}}

After selling to Tagged, the management team of hi5 formed magi.com as a pure gaming site open to other game developers.{{cite web | url=https://www.gamedeveloper.com/business/former-hi5-president-alex-st-john-reveals-new-social-games-network |title=Gamasutra - Former Hi5 president Alex St. John reveals new social games network | first=Mike | last=Rose | work=Gamasutra | date=March 6, 2012}} Magi.com was shut down in June 2012.{{cite news | url=https://www.adweek.com/digital/magi-com-shutting-down/ |title=Magi.com shutting down| first=Mike | last=Thompson | work=Adweek | date=June 6, 2012}}

With Tagged's acquisition of hi5, the gaming platform changed from third-party developed games to games developed by Tagged's in-house team. Tagged noted that hi5's games weren't as "vibrant" as they could be.{{cite news | last=Ha | first=Anthony | date=January 26, 2012 | title=Tagged Begins Transformation Of Social Gaming Network hi5 | url=https://techcrunch.com/2012/01/26/tagged-hi5-transformation/ | work=TechCrunch}}

In 2017, Tagged and hi5 were acquired by The Meet Group for $60 million.{{Cite news | url=https://techcrunch.com/2017/03/06/meetme-tagged-hi5-ifwe/ | title=Old-school social networks Tagged and Hi5 bought by MeetMe for $60M | first=Josh | last=Constine | work=TechCrunch | date=March 6, 2017}}

• List of social networking services
• VK
• Facebook
• Friendster
• Orkut

{{Portal|Internet}}

{{Reflist|30em}}

• {{Official website|https://hi5.com/}}

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Category:2003 establishments in California

Category:2011 mergers and acquisitions

Category:American social networking websites

Category:Internet properties established in 2003

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