Justin Bieber Invests $1.1 Million in New Social Network Aimed at Teens

Nov. 5, 2013— -- Like it or not, there's no denying that social media users love Justin Bieber. He is one of the most followed people on Twitter, barely edged out by Katy Perry. Several of his songs are among YouTube's most viewed videos of all time. So if Bieber takes an interest in a social network, you can bet that people will take notice.

According to Fortune, Bieber invested $1.1 million in a new social network called Shots of Me, created by the company RockLive. CEO John Shahidi said that Bieber tested the company's mobile games and provided feedback, but that Shots of Me really grabbed his attention.

"When we told him that we were looking to create a social network for teens that really addresses what they aren't getting on other networks, his eyes just lit up," Shahidi told Fortune. Facebook saw a drop in its teenage audience in its 2013 fourth quarter earnings report, and Shots of Me may be looking to step into that void. Though there is no website for the RockLive's new social network yet, an app is set for release later this week on iOS.

But Bieber isn't the only one who has invested in RockLive. In August 2012, several other celebrities contributed to RockLive's seed money, including venture capitalist Shervin Pishevar, actor Omar Epps and boxer Floyd Mayweather.