Christos Cotsakos, former CEO of E*TRADE, the online brokerage firm that revolutionized stock trading in Web 1.0, will unveil his Web 2.0 company called MOLI tomorrow at DEMO. And surprise, surprise — it’s a social network! Yet Cotsakos is undetered by what is an arguably overcrowded space: In a briefing with GigaOM last week, he explained what distinguishes MOLI (the name stands for “money and living”) from others with market-leader advantages (Facebook, MySpace, LinkedIn) — and why he believes users will gravitate to MOLI anyway.
“People say the market has already formed,” he said, “but the market never forms. It only forms and reforms. There is still room for a handful of unique brands in this space.” Cotsakos, who founded MOLI in 2003, has had plenty of time to refine the company’s business model to ensure it might be one of them. And although odds are usually stacked against late entrants, MOLI does offer some compelling features. Read More about Ex-E*TRADE CEO Goes Social With MOLI