iMooch, a Web 2.0 startup in New York, has raised $250,000 from friends and family to build a social network to help people earn money from various forms of user-generated content, PE Week has learned.
The startup is run by Nalin Patel, a graduate from the Massachusetts Institute of Technology who was the vice president of technology at the Hollywood Stock Exchange and co-founded online gaming company Pixelfixx. Patel has six people working on iMooch.
Patel won’t talk about what iMooch plans to do. “It’s a little top secret right now,” he says. “It’s a Web 2.0 company dealing with all those annoying buzzwords, such as social networking, user-generated content, etc.”
You need a password to access the site, www.imooch.com, but Patel says its tentative tagline is “Beg for money online.” The site will enable people to monetize their creations such as video, photography, and software codes, Patel says.
Patel is planning to launch the site in April. “That’s when we’ll take the wrapper off and tell the world what we’re up to,” he says. But if you can’t wait that long, his email is Nalin@imooch.com. —Alexander Haislip