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ASmallWorld

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ASmallWorld AG
Type of businessPublic company
Country of originSwitzerland
OwnerPatrick Liotard-Vogt (64%)
Alexander König (9%)
Hansainvest (7%)
Global Hotel Alliance (3%)
Founder(s)Erik Wachtmeister
Louise Wachtmeister
ChairmanMichael Manz
CEOJan Luescher
IndustrySocial networking service
RevenueCHF 15.6 million (2021)
Total equityCHF 11 million shares
SubsidiariesASmallWorld Travel
ASmallWorld Hospitality
ASmallWorld Hotels & Resorts
First Class & More
The World's Finest Clubs
URLwww.asmallworld.com
LaunchedMarch 2004; 20 years ago (2004-03)

ASmallWorld (stylized as ASMALLWORLD, or ASW) is a media company and a social networking service based in Zürich, Switzerland focused on travelers.

The social network has a membership subscription business model; offering three different tiers: the basic ASmallWorld, Prestige and Signature.[1][2][3][4]

Annually, in mid-December, over 200 members attend the Winter Weekend at the Gstaad Palace in Gstaad, Switzerland, where members can join in skiing, wine tastings, dinners, and black tie receptions.[5]

History

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In March 2004, Erik and Louise Wachtmeister founded ASmallWorld.[6] It was dubbed "MySpace for millionaires" by The Wall Street Journal.[6] To maintain its desired exclusivity, ASmallWorld, while initially free, was invitation-only, open only to those invited by an existing member. In October 2004, the platform had 30,000 users, mostly celebrities, models and bankers between 25 and 35 years old, living in Europe or North America.[7] By August 2005, the platform had 68,000 members.[8]

In May 2006, Harvey Weinstein's The Weinstein Company acquired a majority stake in the platform.[9] Other investors included former AOL COO Robert W. Pittman, film director Renny Harlin, and entrepreneur Prince Alexander von Fürstenberg.[10][11] At the time, ASmallWorld had approximately 130,000 members. Harvey Weinstein said his company planned to expand the site's membership and bring in additional advertisers. It was the Weinstein Company's first investment in an Internet company.[11] After launching online advertising in 2006, the website had 100 partners. Advertisers included Jaguar Cars, Diane von Furstenberg, Mercedes-Benz, Cartier, and Moet & Chandon.[10]

In October 2009, Patrick Liotard-Vogt, a Nestlé heir and Swiss investor, purchased a controlling stake in the company, now stylised ASMALLWORLD, and became its chairman.[12] Sabine Heller became chief executive officer. At that time, membership was in excess of 500,000 members.[13][14]

In July 2012, the company launched a mobile app for iOS.[15] A mobile app for Android followed.[16]

In February 2013, ASmallWorld announced that as of March 1, 2013, it would not be accepting new members, citing an initiative to ensure the integrity of the community.[17][18] The company changed its strategy to focus on a smaller network and more perks for its members. After temporarily shutting down, ASW relaunched in May 2013 with a membership model and an advertising-free experience for its members.[19]

In March 2013, it acquired World's Finest Club, which offers exclusive access to clubs worldwide.[20]

In April 2013, the company purged many members from its rolls, reducing its user base from 850,000 to 250,000 members.[21][22]

On March 20, 2018, ASmallWorld AG became a public company via an initial public offering on the SIX Swiss Exchange, raising CHF 18 million.[23][24][25]

In September 2018, the company acquired First Class & More International.[26] In February 2019, the company acquired a UK-based travel agency LuxuryBared and integrated into the ASW app and website, after having invested heavily into technology and team.[27] In March 2019, ASW Hospitality became the property manager for the North Island, a Luxury Collection Resort, Seychelles, a Marriott International-branded hotel.[28] Dario Bertucci was named managing director of ASW Hospitality.[29]

See also

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References

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  1. ^ "A Big Fish in a Small World". Global Citizen. July 5, 2018.
  2. ^ Denman, Selina (June 20, 2013). "The lady making A Small World smaller". The National (Abu Dhabi).
  3. ^ "Apply for Membership". Asmallworld.
  4. ^ "ASMALLWORLD – Travel, Lifestyle & Community". Asmallworld.
  5. ^ "Perks of Living in 'ASmallWorld'". CNBC. June 4, 2013.
  6. ^ a b Ruiz, Nicola (May 2, 2008). "Five Social Networking Sites Of The Wealthy". Forbes.
  7. ^ Crittle, Simon (October 17, 2004). "Clubs for People Who Point and Clique". Time.
  8. ^ "Bin Laden in 'Hell'". Wired. August 1, 2005.
  9. ^ Cieply, Michael (April 12, 2007). "Films From the Weinsteins Falter, but the Brothers Stay Focused". The New York Times.
  10. ^ a b La Ferla, Ruth (September 6, 2007). "A Facebook for the Few". The New York Times.
  11. ^ a b Aspan, Maria (May 22, 2006). "A Weinstein Will Invest In Exclusivity". The New York Times.
  12. ^ Flint, Joe (October 13, 2009). "Weinstein Co. selling controlling stake in exclusive social networking site". Los Angeles Times.
  13. ^ Bryant, Adam (January 16, 2014). "Sabine Heller of A Small World, on Teaching Yourself". The New York Times.
  14. ^ "The Social Networker". The Wall Street Journal. April 26, 2013.
  15. ^ "ASMALLWORLD Launches Mobile Application For Members Worldwide" (Press release). PR Newswire. July 30, 2012.
  16. ^ "ASMALLWORLD - Apps on Google Play". Google Play.
  17. ^ Baigger, Katja (May 13, 2013). ""A Small World" wird noch kleiner" ["A Small World" is getting even smaller]. Neue Zürcher Zeitung (in German).
  18. ^ "Tiger Woods ist schon weg: "Facebook für Reiche" mistet aus – Wirtschaft" [Tiger Woods is already gone "Facebook for the rich" mucked out]. Blick (in German). May 13, 2013.
  19. ^ Lipke, David (May 10, 2013). "A Small World Maps New Strategy". Women's Wear Daily.
  20. ^ "ASMALLWORLD Announces Acquisition of the World's Finest Club" (Press release). Business Wire. March 8, 2013.
  21. ^ Constine, Josh (May 13, 2013). ""Myspace For Millionaires" ASMALLWORLD Pivots Into A $105 VIP Travel Club". TechCrunch.
  22. ^ Zeveloff, Julie (May 13, 2013). "Social Network For The Elite Is Getting Even More Exclusive". Business Insider.
  23. ^ Miller, John (March 15, 2018). "ASMALLWORLD networking site to list 8.1 mln shares on Swiss bourse". Reuters.
  24. ^ "IPO season gets off to a successful start". SIX Swiss Exchange. March 20, 2018.
  25. ^ Mateu, Karin (March 27, 2017). "Strong Q1 on IPO market - including Switzerland" (PDF). Ernst & Young.
  26. ^ "BRIEF-Asmallworld Buys First Class & More International". Reuters. September 25, 2018.
  27. ^ "EQS-Adhoc: ASMALLWORLD AG: acquires LuxuryBARED, a travel booking platform specialised in luxury travel" (Press release). Business Insider. February 1, 2019.
  28. ^ "North Island, a Luxury Collection Resort, Seychelles". Hospitality Net. 5 March 2019.
  29. ^ "BRIEF-Asmallworld Names Dario Bertucci Managing Director Of ASW Hospitality". Reuters. March 8, 2019.
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