Former M&C Saatchi executives 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), have backed the self-proclaimed “social network for good” Supernova. The trio have invested in a £2million round of funding for the new network, which was valued at £10million before the latest round.
As such a Supernova, Mark Zuckerberg probably won’t be trembling in his sneakers (he has other things to worry about), but Supernova’s pitch – it says it was created “to, thanks to careful human supervision and user self-restraint only Breeding kindness and respect” – serves to highlight the perceived shortcomings of large social media sites.
Supernova is aiming to capture a piece of the $140 billion social media advertising market with a goal of raising $1 billion a year for charitable causes. It estimates that social media has 4.65 billion users worldwide.
Dominic O’Meara, Founder and CEO of Supernova, said: “We are honored and proud to welcome David, Bill and Jeremy. Their investment is very welcome and their expertise and support is significant as our business and brand scale.”
Investor Kershaw says, “People clearly want more social media and we all need more friendliness. By fusing the power of social media and advertising to create an unstoppable force for good, Supernova is giving the world what it wants and needs.”