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Founded in 2000, SelectMinds' original mission was to develop an online system for alumni. Well, it hasn't had much traction. Besides, Facebook is the dominant player in the academic space.Well, SelectMinds is taking another tact; that is, the company is developing a system to allow for social networking in the corporate environment.
In fact, this week the firm obtained $5.5 million in venture capital. The investor is the venerable Bessemer Venture Partners.
Actually, SelectMinds has snagged some top customer references like JPMorgan Chase (NYSE: JPM), Lockheed Martin (NYSE: LMT), The Dow Chemical Company (NYSE: DOW), and Ernst & Young.
I had a chance to interview Robb Hecht, who is an expert on social networking and operates MEDIA 2.0. According to him:
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