{"id":43427,"date":"2023-10-20T15:28:30","date_gmt":"2023-10-20T15:28:30","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/sociabl-sold-why-a-serial-entrepreneur-bought-a-controlling-stake-in-the-controversial-startup-startupsmart-2\/"},"modified":"2023-10-20T15:28:30","modified_gmt":"2023-10-20T15:28:30","slug":"sociabl-sold-why-a-serial-entrepreneur-bought-a-controlling-stake-in-the-controversial-startup-startupsmart-2","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/sociabl-sold-why-a-serial-entrepreneur-bought-a-controlling-stake-in-the-controversial-startup-startupsmart-2\/","title":{"rendered":"Sociabl sold: Why a serial entrepreneur bought a controlling stake in the controversial startup – StartupSmart"},"content":{"rendered":"
A serial Australian entrepreneur has bought controversial startup Sociabl and says he has big plans to take it to Hollywood.<\/p>\n
Shane Yeend\u2019s company, Imagination Entertainment, has acquired a \u201ccontrolling stake\u201d in the Adelaide startup, with the entrepreneur planning to hire a new chief executive, as first reported by the Australian Financial Review.<\/p>\n
Imagination Entertainment is a global games and media company with offices in the US, Canada, Europe, Australia and New Zealand.<\/p>\n
Yeend says he decide to buy the stake in Sociabl because he is a \u201cserial entrepreneur\u201d that sees promise in the core idea.<\/p>\n
\u201cIt\u2019s an interesting idea and I\u2019m a big fan of young entrepreneurs,\u201d Yeend tells StartupSmart<\/em>.<\/p>\n \u201cI love Adelaide too, and we\u2019ve built a business out of Hollywood brands. It\u2019s an interesting play that doesn\u2019t exist today.<\/p>\n “It\u2019s right in our sweet spot.\u201d<\/p>\n