Is a MeWe stock price coming soon? In fact, have you ever heard of MeWe? For so long, Facebook, Instagram and Twitter have been the giants of social media. However, these days, more and more new alternatives are popping up. While we can trade Facebook and Twitter, an in a way, Instagram, can we trade MeWe?
What Is MeWe?
- At its core, MeWe is a social media platform; not unlike many of the other sites that we commonly use today on a daily basis. Similarities in structure and user interface will always draw comparisons to Facebook (NASDAQ:FB). Indeed, MeWe does advertise itself as the “Facebook alternative”. MeWe stands apart as a platform that preaches user privacy and control. This in a world where algorithms and click sequences are allegedly monitoring and tracking our every move on the internet.
MeWe was founded in 2012 by Mark Weinstein. He’s an author and internet executive who took offence to Mark Zuckerberg’s infamous claim that “privacy is a social norm of the past.”
Weinstein and his company set to work on the platform. As a result, by 2015, as the site neared the end of its final beta-testing, MeWe was ready for widespread public consumption.
The very next year in 2016, MeWe was a finalist for the Start-Up of the Year awards at the SXSW festival.
MeWe has hit the headlines recently. Especially as internet censorship and blocking information has reached its fever-pitch during the leadup to the 2020 United States federal election.
Who decides which information is broadcasted? That’s the great debate raging around all corners of the internet. In the crosshairs of free speech supporters are Facebook, Alphabet (NASDAQ:GOOGL), and Twitter (NYSE:TWTR).
What does that mean for MeWe stock price? Or Instagram for that matter?
Can I Buy MeWe Stock Price?
As of right now, no you cannot buy MeWe stock. There are no MeWe shares on the public market. And there’s no MeWe stock ticker symbol. Therefore, no MeWe stock price.
Weinstein has kept MeWe as a private brand. There hasn’t been any indication that he’ll be taking his company public anytime soon. Is there any incentive for Weinstein to bring MeWe to the public markets?
Sure, you can argue there always is. However, for a company that stresses the importance of user control, it doesn’t seem like Weinstein would want to cede control of his company to shareholders.
Perhaps the main argument against MeWe trading as a public stock is the question of where its revenues would come from. Sites like Facebook and even Twitter, make a majority of their revenues through advertisements and ad impressions.
But one of the biggest draws to MeWe is that there are no ads on the site. So, no ad revenue is a serious drawback for a social media platform. And potentially a true hindrance in the company being profitable.
A second strike against MeWe is the subscription service they offer for premium users. The low cost of $4.99 a month gets users unlimited video calling and chat.
But is that really enough to coerce enough users to sign up for its premium model? There doesn’t seem to be any real incentive for users to switch to the premium version.
So we can hardly count the monthly fee as a recurring revenue stream that a MeWe stock price can bank on.
So What’s the Big Deal With a MeWe Stock Price?
There was a recent presidential election in the United States. You might have heard of it. Information, disinformation, real news, fake news, and censorship have all been hot topics amongst people on both political sides.
Conservatives and right-leaning citizens have been the most outspoken about sites like Twitter and Facebook censoring certain news stories or comments. Free speech has always been a controversial topic in America.
It’s a slippery slope as to what can be considered free speech or commentary or behavior that is detrimental to the rest of society.
MeWe has seen a sudden influx of conservatives since the election took place. While Weinstein has always denied that the site is more for conservatives, it’s certainly turning out that way in 2020.
In the week since November 3rd, MeWe has seen 130,000 downloads. Of which 100,000 have been in the United States.
MeWe was a platform built for anyone who wishes to remove themselves from the controlling nature of Facebook. You can trade Facebook. However, there’s no MeWe stock price.
MeWe Is Not Alone
- No MeWe isn’t alone. In fact, these uncensored and unregulated platforms are gaining popularity this year. Especially after all of the allegations and issues surrounding the big tech companies. One of the most popular platforms available right now is called Parler; a micro-blogging site that calls itself the alternative to Twitter. Parler has actually increased in popularity since the election. Which makes sense, given it has the same real-time reporting aspect that makes Twitter so popular.
Since November 3rd, Parler has had a whopping 580,000 global downloads. An increasing number of conservatives have migrated to a platform where they won’t be censored.
Check out Rumble too. There’s no MeWe stock price, or any other stock price for these companies. But you can find another social media platform to scroll through.
Difference Between Parler and MeWe
The difference between MeWe and Parler is that Parler actively advertises itself as a right-wing political platform that welcomes those who’ve been banned by the mainstream sites.
MeWe also regulates user posts less. And, as a result, has more of a community feel with individual user account pages. Parler uses a timeline where users are fed non-stop information; similar to a Twitter feed.
Parler announced recently that it would be adding advertising to the site soon. This seems counterintuitive since that is a huge reason people are flocking away from Twitter and Facebook.
By default, an algorithm for ads and impressions must be instituted so that the ads can learn which users to target. Sound familiar?
Like MeWe, Parler is a private company as well. Therefore, no MeWe stock price. But the addition of ad revenue does sound a bit more enticing when we think about a potentially public company.
The main issue that Parler has had in raising capital, is that many venture capitalists have no desire to get involved with a political site.
Other social media platforms in the same vein as Parler include Minds, Gab, and BitChute. However, none of which are as widely used as Parler or MeWe.
MeWe Does Good Things Too
Depending on which side of the political divide you’re on, you probably have differing opinions of sites like MeWe or Parler. The fact of the matter is, most Americans aren’t as extreme in their political views.
Not all right-wingers wish violence on Democrats, and not all left-wingers love being on Facebook or Twitter. That’s right, Democrats hate having ads and algorithms control their lives too.
So it turns out, not liking your internet usage monitored and regulated isn’t a political thing, it’s a human thing. Does that mean we’ll get a MeWe stock price?
What MeWe does offer people from all parts of the political spectrum, is a platform to speak freely, without fear of judgment or a higher power telling you that what you said or did was wrong. That’s awesome.
It also has no ads targeting or potentially shaping your decisions or purchases. Also awesome. MeWe is committed to the fact that anything a user posts is the property of the user and not the site.
Something Facebook got in trouble for a few years back when the fine print read that any photos posted on the site become Facebook’s property.
While MeWe has become a haven for conservative users, officially it doesn’t have a political lean. Which means all of its rules apply to both Republicans and Democrats alike. While sites like Parler publicly label themselves as right-wing, MeWe has kept its neutral stance throughout the election process.
Can MeWe Ever Go Public and Give Us a MeWe Stock Price?
It’s difficult for such divisive companies to garner enough financial and public support to take themselves public; no matter how popular they become.
Many institutional investors or venture capitalists just don’t want to deal with the excess baggage or bad press that may accompany an investment in a site like MeWe or Parler.
In July of 2018, after the platform had already been in existence for three years, Weinstein raised a round of investment capital that totaled $5.2 million. While this certainly is not a small amount, it is far from enough to take a social media platform to the public markets.
As mentioned earlier, the revenue stream for MeWe is shaky and its insistence on not having any advertising on the site is what may keep the site from ever being profitable.
In 2019, Facebook made an estimated 98.5% of its revenues from advertising, which amounts to a sum of just under $70 billion. Even though there may never be a site that is able to topple Facebook, it doesn’t take a genius to figure out how lucrative that ad revenue is.
It is hard to imagine MeWe ever hosting a substantial amount of users as well. MeWe has now topped 10 million user profiles, which seems like a substantial number, and it shouldn’t be downplayed.
But if MeWe is attempting to go toe to toe with Facebook’s 2.7 billion user base, it’s going to lose that fight every time. Without a consistent way to create revenues from its users, MeWe will always struggle to find its way to profitability.
MeWe Stock Price Conclusion
In cyberspace there’s a platform and site for nearly every group or affiliation and MeWe fills the niche of people who are simply tired of being controlled by the big tech corporations and mainstream media.
The premise is great and the execution of it isn’t terrible. In the wake of the 2020 presidential election, the United States has become far from that. A nation divided by politics to a level of extremism and hatred that is unparalleled.
Free speech is an incredible weapon when wielded in the right way. Free speech that’s backed with hatred and violence is an incredibly dangerous weapon.
And one that gains strength the more the message is repeated. As a social media platform, MeWe has its heart in the right place. Unfortunately due to its own non restrictive nature, it is attracting some very dangerous forms of free speech.
As investors, we try to put on an unbiased cap, to look past what the company stands for and look more at how it operates and the potential for a strong business.
At this point it would be difficult to say that MeWe could be a profitable enough company to warrant an investment in if it ever did come to the public markets.