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Momentum Already Slowing For Google+? (GOOG, LNKD, RENN, QPSA, SINA, UNTD)
by Todd Shriber | July 28th | Filed in: Stock Sector News
Tickerspy’s Social Networking IndexSOCIAL NETWORKING INVESTING IDEAS
SOCIAL NETWORKING COVERAGEThese companies run online businesses with significant exposure to social networking.
SOCIAL NETWORKING CHART SOCIAL NETWORKING METRICS
Shares of Google (GOOG), the largest U.S. provider of Internet search services, are up 1% today despite news that momentum for the company’s latest social networking offering, Google+, may already be waning. Last week, the Wall Street Journal reported Google+ had landed an astounding 20 million users in just three weeks, a feat made all the more impressive by the fact that new Google+ users have to be invited to join the service by current users. The bad news is Google+ saw fewer U.S. visitors last week and users are now spending less time on the site, Bloomberg News reported, citing Experian Hitwise. Investors aren’t getting caught up in that news as the Social Networking Stocks Index is surging 3.4%. Google+ visits had nearly quadrupled for the week ending July 16, but fell 3% to 1.79 million for the week ending July 23 and total time spent on the site slid 10% to 5 minutes and 15 seconds on average, Bloomberg reported, citing Experian Hitwise. Google+ is the Internet search giant’s latest effort to challenge Facebook and LinkedIn (LNKD) in the social networking arena, an area that Google has acknowledged it has fallen behind in. Earlier this month, Google CEO Larry Page noted that while his company is excited about the progress Google+ has made in a short amount of time, there is still work to be done. LinkedIn is soaring 10% while Renren (RENN), China’s answer to Facebook, is up 4%. Quepasa (QPSA) and SINA (SINA) are both up 2% while United Online (UNTD) is trading higher by 1%. Investors can track the Social Networking Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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July 29th, 2011 at 1:44 am
What I’m not seeing mentioned in these articles about active user time dropping is familiarization and set up time being factored in. I have familiarized myself with G+ beta and set up my first circles. For me that was about an hour. Hitwise say an average fall of 35 seconds, which would account for my familiarization and set up time. The figures also don’t take into account users who have switched to using the mobile app.
I don’t see how these figures can be interpreted as a loss of interest at such an early stage.