Capazoo Wants To Pay You For Your Social Networking Time

capazoo.jpgCanadian social networking and entertainment site Capazoo wants to pay users for the time they spend interacting on the site, sort of.

Capazoo comes with the usual variety of social networking functions, including blogging, photo and video uploads, profile pages etc etc. Where Capazoo differs is its offer to compensate its users for the time spent on the site and the activities they undertake. Members can tip other members using “Zoops,” Capzoo’s points program that can be redeemed for cash. Members also receive Zoops for inviting friends and posting content. It sounds good, but there is a catch: to redeem Zoops users must join one of Capazoo’s two premium membership programs which cost $24.95 or $34.95 per year. Users can also buy additional Zoops to give to others at the rate of $10 for 10,000 Zoops.

Capazoo currently has “over 100 employees” and has taken $25 million in private funding to date.

As we bid AGLOCO to the deadpool earlier today, it’s natural that another variation on a Web 1.0 theme that’s got a multi-level marketing referral scheme rings alarm bells. Capazoo is trying to be at least slightly different through content deals and original content, but in an age where social networking sites are free, a model that only pays out when you pay up won’t find millions of fans. With $25 million in the bank the site certainly won’t be heading to the Deadpool anytime soon but it will struggle to succeed; who knows, it might work, but I wouldn’t bet on it.