Innova Capital Partners

Innova Capital Partners invests in Social Network Platform Raftr

April 26, 2019


Innova Capital Partners invested in Raftr, the social network vision of former Yahoo executive Sue Decker. It’s a “conversation platform” focused on “unfolding stories” — a social network that makes it easier for people to follow, discuss, and share their interests. The new social network launched as an iOS app and a mobile website.

“It’s talking about stories with family or friends in a fun and curated way,” she said in an interview at the Digital Trends’ offices in New York. “It’s about following developments. Decker, a computer science major and Harvard Business School graduate, knows a thing or two about social media. She cut her teeth young, serving as president of Yahoo under Jerry Yang. After leaving the troubled web giant in 2009, she played an active role on the boards of Costco, Intel, Berkshire Hathaway, and LegalZoom. In 2016, she joined the board of NBC Universal-backed online media company Vox.

Decker’s dive into the news business began even earlier, during her formative years at Yahoo. In 2006, she helped form a consortium of seven newspaper chains representing 176 daily papers across the country, with the long-term goal of tagging and optimizing the newspapers’ content for indexing by Yahoo.

In some ways, Raftr is the embodiment and the extension of that vision. It’s organized around the idea of stories. Users follow ongoing stories — or “rafts,” in Raftr’s vernacular — on which they can comment with like-minded people about the day’s developments.

The hierarchy is loosely inspired by the social behavior of Raftr’s cute animal mascot, the otter. “Otters travel in rafts — social groups of two to 100 that float together,” Decker said. “On Raftr, those groups comprise people who share passions in common.”

Raftr organizes stories around those rafts. Some, like the Politics raft, are necessarily broad in scope. But others, like Black Lives Matter, are a little more timely. Still others emerge perennially with the beginning of TV seasons (The BachelorBillions) and sports seasons (NFL Green Bay Packers).

They all inhabit the Discover tab, an amalgamation of active Raftr stories. Recent updates appear in a horizontal carousel at the top, above a list of Trending Stories. A list of Trending People, or subjects who’ve appeared most frequently in rafts during the past week, populates beneath it.

They’re organized by Seasons and updated with regular Blogcasts, or weekly digests penned by Raftr’s cadre of curators. They serve as an aggregation of developments, summaries, and links to related coverage from publications like The New York Times and The Wall Street Journal. Each begins with key quotes from people of interest and conclude with what Decker calls “questions of intrigue,” discussion prompts designed to prompt engaging conversations.

Users can comment on blogcasts and respond to others, or recommend comments using a Reddit-like system of upvoting and downvoting. Alternatively, they can share posts with friends on Facebook, Twitter, Google+.

Chatrooms with know-it-all bots

There’s more to Raftr’s social scene then comments, of course. Within any given raft, there’s a stream of posts akin to Facebook’s News Feed. A contextual search tool recommends relevant news articles, videos, tweets, and people. Posting in the The White House raft, for example, surfaces articles about the presidency and politicians like Bernie Sanders and Hillary Clinton. Other members of the same raft can respond to those posts with content or react with emoji.

A Connect tab provides a no-frills means of chatting with fellow raft members. Global chatrooms attached to rafts let participants send and reply to messages in a real-time, stream-of-consciousness format.

There’s a twist on the chatroom convention in the form of chatbots. Raftr, much like Facebook Messenger, will play host to artificially intelligent bots that respond to commands. For example, Footbotter sources historical statistics from 40,000 football games to answer questions like “What was the top-scoring Green Bay Packer’s game in 1977?” and “Who scored the most touchdowns last week?” Even more impressively, it can predict the outcome of games with 70 percent accuracy, Decker said.

Profiles are a simple affair. From Raftr’s Profile tab, users can switch out their image, edit their biography, add an email address, and leave or join rafts. They can share personal messages with friends, too, and keep abreast of recently updated rafts.

About Innova Capital Partners

Innova Capital Partners (“Innova”) is a global investor with a focus on disruptive innovations. Innova invests in projects and companies at various stages of their development cycle and partners with industry-leading management teams, franchises, and companies positioned for significant growth.

About Raftr

Raftr is a social network platform which creates communities primarily around college campuses globally.