Social networking site WAYN.com has officially re-launched this week with a new business model to allow members to take full advantage of its communication tools free of charge.
Previously, WAYN worked on a subscription model, but flagging growth, tough competition from new arrivals in the social networking space, such as Facebook, and input from its investors, including the site’s chairman, Lastminute.com founder Brent Hoberman, have led Wayn to rethink its strategy.
The latest Alexa figures show cause for optimism, its founders said this week.
The site now ranks 570 on Alexa, its strongest reach ever, Jerome Touze told Travolution.
“We still have a lot more to do clearly, but it’s a good starting point nonetheless,” he admitted.
Under the new model, all members can now view information on a host of subjects, including travel, and find other members, based on where they are. Members can also send unlimited messages in order to locate new or old friends.
WAYN will still work on a subscription-based model to the extent that it will charge members for added services, but the plan is to garner the bulk of the company’s revenues from advertising.
Touze added that the new model will “provide us with unrivalled advertising opportunities given our ability to provide relevant content to our members based on their whereabouts”.
WAYN currently counts 8.4 million members worldwide.