Apparently not content with playing to large stadiums of screaming fans and collecting large amounts of money for it, pop singer Justin Bieber has gotten into the investment game by leading the financial backing of an upcoming social network for teens, reports CNN Fortune.

The new social network, called Shots of Me, counts Bieber among its investors. Bieber is reported to have recently headed a $1.1 million seed round for the company behind Shots of Me, along with other investors like boxer Floyd Mayweather, venture capitalist Shervin Pishevar and angel investor Tom McInerney.

The new social network should be making an appearance on Apple’s App Store this week and RockLive, the company that created Shots of Me, haven’t given too many details about what to expect. They have said that it will be “…a social network for teens that really addresses what they aren’t getting on other networks, and which tries to deal with things like cyber-bullying”.

With the likes of Bieber, who was only recently displaced as the most popular Twitter user in the world, having his name attached to the project, watching just how quickly Shots of Me is picked up by its target market should be very educational.

Source: CNN Fortune via The Verge Image: YouTube