Justin Beiber is the lead investor in a $1.1 million seed round for new teen focused social network Shots of Me. The endorsement by one of the world's most famous teenagers comes just as Faceook is seeing increased slippage among teen users.
It's Beiber's first tech investment made independently of his manager and tech investor Scooter Braun, according to Fortune. Other seed investors include venture capitalist Shervin Pishevar, boxer Floyd Mayweather and angel investor Tom McInerney.
Shots Of Me is being developed by the RockLive team behind a number of popular mobile social games. Shots Of Me, is not a game, but the developers a providing few details of the app, which is scheduled to launch on iOs later this week. The name would point to a riff on the "selfie" photo craze.
Beiber has 46 million Twitter followers, some of whom are likely to be Shots Of Me's first users. We got to know Justin after he began playing our games and tweeting about it," says RockLive CEO John Shahidi, told Fortune. "He's been very involved in our products, helping us test things and providing feedback… When we told him that we were looking to create a social network for teens that really addresses what they aren't getting on other networks, and which tries to deal with things like cyber-bullying, his eyes just lit up."