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UK network welcomes 50,000th member after launch of new platform

CitySocialising, the real world social network for professionals today celebrated the 50,000th member joining the network less than 3 weeks after the launch of their new platform. CitySocialising CEO Sanchita Saha said:

“To have reached 50,000 members through viral means alone is a great achievement for the network. We made a conscious decision to grow organically in our first two years and, having spent nothing on marketing to date, we’ve been able to develop an incredibly loyal user base who have been out there spreading the word about us on our behalf. Now that we’ve developed a solid core of members, we’ve launched our new platform and are now ready to start actively promoting the network.”

CitySocialising is a subscription-based social network, with a focus on members meeting up to share interests and socialise together with like minded, local people in the real world. It is dedicated to the growing number of busy professionals who are seeking help online to organise their social lives offline.

Launched in London in January 2007, CitySocialising successfully replicated the model nationally within 9 months, rolling out to 11 regional cities around the UK and Scotland, including Manchester, Leeds, Bristol, Edinburgh and Glasgow. More recently, CitySocialising has expanded its reach to cover 7 further UK regions including Newcastle, Sheffield, Cardiff, Liverpool and Oxford and further expansion, both UK and internationally, is planned for the next 4 - 6 months.

Demand for the service has come from time-poor, cash-rich, 25 – 45 year old professionals who are relocating to new cities through work, city locals seeking to meet like minded others in the real world beyond their usual work/social circles and those in cities on business or holiday and keen to meet and socialise with locals. With disposable incomes and a desire to spend on socialising, having fun and making the most of city living, CitySocialising serves this need.

As a classic boot strap start-up, the company achieved annualised revenues of £300,000 within 2 years. Then, in Feb 2009, in the midst of the gloomy economic climate, the social network successfully raised £260k of early stage investment from a syndicate of investors and management lead by the London Business Angels Network to complete the development of the new web platform, recruit further expertise to the management team and to initiate marketing efforts.

Saha commented:

“The long term value of the CitySocialising proposition was underscored by the fact that we this investment despite the global economic crisis. Somewhat uniquely for an internet business, we've been generating revenues from almost the beginning and have therefore been able to expand quickly into additional cities through organic growth.

CitySocialising has proven to be an extremely valuable and relevant service to our members, which has resulted in us enjoying very high retention rates. This is firstly because of our real world, local and community focus. Secondly, we’ve identified a growing desire amongst professionals living and working in fast-paced cities with transient populations to meet others from similar socio-economic backgrounds, who share their interests and their desire to meet new people to socialise with.”

For more information, please visit: www.citysocialising.com

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Press Enquiries:

Christian Kudzi, Tel: +44 (0) 20 7940 9912 / Mob: +44 (0) 7803 053313
Email: press@citysocialising.com

CitySocialising info:

Sanchita Saha, CEO & Founder, a UCL Maths & Business graduate, enjoyed a successful 7 year BBC career, before founding CitySocialising, predominantly in radio operations and production. She was hand-selected by Radio 1 Controller Andy Parfitt to work at the station via the BBC’s first ever talent scheme and went on to form part of the start-up team to launch the corporation’s digital urban music station, 1Xtra. In 2008, Sanchita was recognised in Management Today's ‘35 Women Under 35’ business list published in the Sunday Times; was a finalist for the CBI/Real Business ‘Young Entrepreneur of the Year’ title in the Growing Business Awards; won the People's Choice Award, voted for by the public, in the Girls! Make Your Mark and Handbag.com Business Awards and was recognised in the Courvoisier Future 500 list as one of the UK’s top 100 brightest business stars of the future.

CitySocialising – How It Works:

Users sign up for free to create a profile and try out the site, then can opt to pay a subscription to attend an unlimited number of ‘Socials’ - local and interest-based social activities organised by others from the community and by CitySocialising Editors - as well as unlimited use of all online features such as finding others according to postcode, age and interests, seeing what Socials your friends and others are attending, maintaining My Social Diary and more. All new users receive 1 free Social and everyone is able to organise their own events and activities and tailor invites by gender or age group according to the ‘type’ of friends they want to meet.

Additional features of the new platform include live city event listings, tools to organise group Socials to these events and a wide range of online Interest groups, from Theatre, Japanese language and Opera fans to Business, Rock & Indie and Travel groups, through which like minded members connect and meet up offline