Why Private Social Networks Will Drive Social Media’s Future: Investor

• Alex Hofmann founded 9count, a social media app conglomerate, in 2019 after leaving Musical.ly.
• Hofmann is also an investor in several social startups and is betting on “private social networks.”
• Here are five trends Hofmann thinks will define the future of social networking.

We’re still waiting for the next big thing in social media.

Clubhouse’s social audio moment didn’t stick, BeReal’s gamified photo-sharing faded, and while TikTok’s impact on social media is indisputable, its uncertain future has consumers hungry for new apps.

So, what comes next?

Alex Hofmann, the CEO of the social-media conglomerate 9count, is betting on a new wave of private social networks that prioritize friends over media.

Hofmann founded 9count in 2019 after leaving his post as president of Musical.ly (now TikTok) in 2018, after ByteDance acquired it. 9count’s portfolio includes mostly mobile apps, such as dating app Wink, friend-making app Soda, and LGBTQ+ social network Lex (9count acquired Lex in 2024).

Hofmann said that with influencers, brands, and ads competing for attention on social platforms, consumers aren’t seeing or engaging with their own personal connections as much as they may like.

“We are seeing a shift from social networks to social media to media,” Hofmann told Business Insider.

As a result, he thinks there’s room in the market for more straightforward social networks.

“We finally are at a tipping point because of frustration with policy changes, algorithmic feeds, privacy breaches, excessive commercialization,” Hofmann said. “It’s time for a change. It’s time to build better products.”

Beyond connecting people with their friends via private networks, Hofmann sees potential in apps serving niche communities and helping people meet IRL.

Outside 9count’s own portfolio of apps, Hofmann has also invested in new social apps as an angel investor and via his VC fund Progression. Those investments include Mozi, an app for close friends cofounded by Ev Williams; Bond Social, a decentralized social network; and Girlgroup, a community and events app for women founded by 9count employee Shoshana Cooper.

Here are five trends in social media Hofmann is eyeing:

1. There’s a need for apps serving niche communities. As platforms like Meta or TikTok scale to billions of users worldwide, the apps often prioritize the masses (and advertisers) over smaller segments of users. Hofmann pointed to Girlgroup and Lex as examples of apps built for niche communities, whether that’s young women in a specific city or for the LGBTQ+ community.
2. People want to connect IRL. “The big trend that we are seeing is that after Covid, there’s a big desire really to meet more in the real world,” Hofmann said. Several IRL-social apps raised millions of dollars in 2024, such as 222, Pie, and Posh.
3. Dating apps will need to move past swiping. Hofmann compared the current model of dating apps to Zillow — you can look at a house, but you can’t really discern the energy, aura, or feel of the house with just pictures. “The dating app that will be successful is one that is able to mirror that energy in a digital format,” he said. Gen Z will also define the next wave of online dating, Hofmann added, particularly how younger users are more interested in sparking a connection, even if just platonic, than finding an instant date.
4. The next big thing won’t be a TikTok copycat. “Seeing so many TikTok clones is interesting, and it’s a good way for new entrepreneurs to learn how to build products,” Hofmann said. “But I hope that these products will either grow into something much bigger, much different, much more valuable to the user base.”
5. More new social apps will become pay-to-play or offer freemium models. Public social-media apps usually go after advertising as a primary revenue model and are free to use. Hofmann is bullish on private social networks that instead use subscriptions, paywalls, and freemium models. “Some people believe that that would not be scalable, but the numbers so far show that it’s actually quite possible,” Hofmann said. He pointed to Duolingo as a successful example of a freemium model, and added that Girlgroup has a paid membership.

While Hofmann wants to see innovation in social apps — either via 9count or his investments — he knows very well that the consumer social landscape is volatile.

“The chance to build a successful product in the social-media space is very small,” Hofmann said.