Union Square Ventures partner Fred Wilson shed some light on his investment strategy and his thoughts on how startups can succeed at Advertising Week New York Wednesday.
Wilson said that he and his firm pay close attention to a startup’s social-media presence and how it’s performing.
“When we consider making an investment, we run a bunch of social analytics reports on the company,” Wilson said.
Wilson also said that even though Facebook has lost billions in value since going public, he is still confident in the social network’s strategy.
What Facebook did first was build a strong user base, and then focus on monetization.
“Facebook is worth $40 billion today and they make $5 billion in revenue a year, that is not a failure, that is a success,” Wilson said, adding that he’s becoming “more confident every day that that is the right strategy.”
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