A Upper East Side financier, frustrated over the lack of available money to complete any deals, plans to pump at least $1 million of his own money into a 15-year-old worldwide social-networking company in hopes of creating an invitation-only Facebook-style online community for millionaires.
Frank DeRose, who runs Furrata Capital, a private-equity firm, said the site, Total Prestige, will be different from other social-networking sites aimed at the deep-pocket set because it will focus on dealmaking.
“This is a place you can come for trusted networking with established professionals – and sure you might make a new friend along the way, but that’s not our focus,” said DeRose, 46, who began his finance career at Goldman Sachs by completing a double-digit million-dollar LBO while in his 30s.
He said he jumped at the chance to invest in Total Prestige because for a relatively small amount of cash he could acquire an established company with more than 50,000 database members.
DeRose hopes to combine the existing assets of the company with his sizeable social and Wall Street connections to kick-start the operation.
Since the site launched in late September, DeRose, who is expected to be named chief executive of the company, and Rose Marie Perez, a former model who has run the operation since it was founded, have added 650 member profiles. The list is speckled with European royalty out to promote their charity work and Saudi Arabian oil men looking for clean-energy deals. Recent New York City members include Paolo Zampoli, a modeling agency mogul, and Thomas Kirchner, the managing director of the Pennsylvania Avenue Fund.
Daniel McVicar, a long time star of daytime TV’s “The Bold and the Beautiful,” says he became a member because it’s a very active club where there is always something going on with real movers and shakers.
“I am a member of several niche communities, like A Small World, but Total Prestige is the one that is helping me build my online program called LateNiteMash,” he said.
DeRose has ambitious plans for Total Prestige, including $1,000 a couple “Red Diamond” galas, the opening of local offices in key cities around the world and even a magazine to keep members informed on happenings.
Joe Robinson, CEO of A Small World, another online community aimed at wealthy folks, told The Post: “I’ve been called into 40 cities since the economy took a hard turn in mid-September to meet with luxury brands because with shrinking ad budgets they know they need to get nimble and show immediate results.”
Robinson also says with a devilish grin, “If Total Prestige can build their community not based purely on wealth but a needed lifestyle niche then they could have a winner. Real change happens in distressed environments. This economy could be the catalyst that finally moves a significant volume of media buying from print magazine ads to online.”