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Can WIkio Make Digg S*** Its Pants?

Wikio is the next well-financed social media tool that relies on the wisdom of the crowd to generate content in similar fashion as both Digg and Netscape.

Wikio is the next well-financed social media tool that relies on the wisdom of the crowd to generate content in similar fashion as both Digg and Netscape.

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The Luxembourg-based media search company, recently secured $5.3 million in Series A Funding, which could possibly make it a threat to Digg, though Digg recently got $8.5 Million itself. Netscape has the power of AOL behind it, so it doesn’t really fit into the profile of startup Web 2.0 company in the sense that it becomes a contender. Overall, it looks like it will all come down to which company can build the better tool. But as Digg was first entrant in the game, is it possible that Wikio can even catch up.

What is most interesting about Wikio, and where the company may possess the power of oneupmanship, has been its ability to set up shop and launch versions of its tool in France, the U.S., Germany, Italy, and Spain. Now that’s really the wisdom of the crowd.

As social media’s popularity continues to grow, there’s going to be room for all of these players. Very few people get all that they need from just one Web site.

A recent Wall Street Journal story discusses a new breed of influencers, born out of the wonder of social media:

“A new generation of hidden influencers is taking root online, fueled by a growing love affair among Web sites with letting users vote on their favorite submissions. These sites are the next wave in the social-networking craze — popularized by MySpace and Facebook. Digg is one of the most prominent of these sites, which are variously labeled social bookmarking or social news. Others include Reddit.com (recently purchased by Condé Nast), Del.icio.us (bought by Yahoo), Newsvine.com and StumbleUpon.com. Netscape relaunched last June with a similar format.

The opinions of these key users have implications for advertisers shelling out money for Internet ads, trend watchers trying to understand what’s cool among young people, and companies whose products or services get plucked for notice. It’s even sparking a new form of payola, as marketers try to buy votes.

It’s also giving rise to an obsessive subculture of ordinary but surprisingly influential people who, usually without pay and purely for the thrill of it, are trolling cyberspace for news and ideas to share with their network.”

With every major media company employing some sort of social media tool into its framework, there’s something to be said about the future of well, everything, as we know it. I know I’ve asked a similar question before, but is it possible that social media is going to become a part of every business model for the next 5-10 years, even if the company is not a pure Web play, or even a media company? My feeling is yes, but others may opine otherwise.

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About the author

Lynne d Johnson is a Content + Community Consultant developing content and community strategies that help brands better tell their stories and build better relationships with people toward driving brand awareness, loyalty, and purchase intent. She has been writing about tech and media since the Web 1.0 days, most recently about how the future of consumer interactions will be driven by augmented reality and wearable tech.

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