WPP gets social
Or, at least now they can outsource or acquire it.
WPP a world leader in communications services, and LiveWorld, Inc., a world leader in online customer community marketing services, today announced the formation of a joint venture that will provide online community and social networking services to major brands worldwide through WPP’s global networks.
The joint venture, named LiveWorld-WPP, will be equally owned by each company and is exclusively dedicated to collaborating with WPP agencies to offer, create, and deploy LiveWorld’s online community and social networking services as marketing venues for WPP’s clients on a global basis.
LiveWorld, Inc. today announced that in conjunction with the formation of a joint venture company with WPP, the Company issued WPP a warrant for 1 million shares of LiveWorld stock priced at $1.00/share and a warrant for 1 million shares of LiveWorld stock priced at $1.10/share.
A bit more here, from Brand Republic. A couple weeks ago, I wrote this in Sir Sorrell's school of digital doubt:
Sir Sorrell: And like all media that were once new media but are now just media, they’ll earn a well-deserved place in the media repertoire, perhaps through reverse takeovers - but will almost certainly displace none.
GN translation: WPP will spend a lot more on acquisitions. WPP will prevail, even if it means buying every last one of them.
Technorati Tags: social.networks, advertising, media, dinosaurs
Friday, July 14, 2006
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