Of all the online innovations from the past 20 years, it is undeniable that the rise of social media is one of the biggest and most influential. The likes of Facebook, Instagram and Twitter have billions of users among them, and even those of us who aren’t actively using any social networks understand what they are and how they function.
Now, as we pass the 10th anniversary of Instagram, it is interesting to see the growth in popularity of alternative “vertical” social networks, in the form of creating new entrepreneurial opportunities: building platforms to meet the demands of those niche audiences with perhaps more specialized tastes and hobbies.
One of the most important things to think about when launching a vertical social network is its initial purpose and timing. Ten years ago, the social media landscape was dominated by the big name players, however, more recently, their popularity has somewhat plateaued.