Classmates.com was one of the first ever social networks. Founded in the early days of the Internet, 1995, it was ahead of its time. However, it’s business model of requiring members to pay for use, is badly outdated given the current landscape of free-use socnets like Facebook and MySpace.

Apparently, the old dog can still hunt, according to its chairman Mark Goldston. Speaking Wednesday at the Jeffries 4th Annual Internet Conference, Goldston said Classmates had signed up one million new paid subscribers in 2007, equal to three years worth of previous paid membership growth.  He also noted that “fourth-quarter sales for Classmates had increased 27% to $53.3 million and that the site now generated 42% of the company’s overall revenue–up from 19% in 2005.” (Source: Media Post)

If you follow this space intently, you know that the company filed for an IPO last year, then pulled it citing “current market conditions would not be in the best interests of its stockholders.”

Personally, I have little use for sites that charge me for the privilege of gaining access to other members. But, facts is facts, and, considering the spike in growth, I guess there are still a number of us aging baby-boomers who want to hook up with our old buds from high school or college…or maybe that old sweetheart. Just not me. 

What do you think? Is Classmates.com still a viable social network, or do you agree that its business model is outmoded?

Article Tags: Classmates.com | Social Media Marketing | social networks
Filed under: Industry News, Personal Opinions, Social Media Marketing