Former M&C Saatchi execs David Kershaw, Bill Muirhead and Jeremy Sinclair, who now run investment firm Act 111 (the first two acts were Saatchi & Saatchi and then M&C) has backing the self-styled “social network for good” Supernova. The trio have invested in a £2m funding round for the new network, valued at £10m before the latest round.
As such Supernova is hardly likely to have Mark Zuckerberg quaking in his sneakers (he has other things to worry about) but Supernova’s pitch – it says it has been created “to breed only kindness and respect thanks to careful human monitoring and user self-moderation” – serves to highlight the perceived failings of big social media sites.
Supernova is aiming aims to take a share of the $140BN social media advertising market with a goal to give $1BN a year to charity. It reckons social media has 4.65 billion users worldwide.
Supernova Founder and CEO, Dominic O’Meara says: “We are tremendously honoured and proud to welcome David, Bill and Jeremy. Their investment is very welcome and their expertise and endorsement significant for our business and brand as we scale.”
Investor Kershaw says: “Folks clearly want more social media and we all need more kindness. Through fusing the power of social media and advertising to create an unstoppable force for good, Supernova gives the world what it wants and at the same time what it needs.”