According to the copywriter who typed this gem, “Liveworld builds, operates, and moderates social networks and online communities with a difference that creates real solutions to meet real business goals.” While these words may fall flat on my ears, WPP hears the jangle of money.
Ad Age and Adweek both report on the new joint venture between the firms.
“I believe that this type of venue is the foundation of relationship marketing in the next 10 years,” said Peter Friedman, chairman and CEO of LiveWorld. “So much thinking and decision making is moving to this venue. People like to make their decisions and form their brand views based on their conversations with other people.”
The joint venture will not preclude LiveWorld from working with non-WPP agencies. Instead, it will act as an evangelist within WPP for including Web communities in client campaigns, Friedman said.
As part of the deal, WPP will receive warrants to buy 2 million shares of LiveWorld.