The World: New York WPP and LiveWorld set up social network venture

WPP has launched a joint venture with LiveWorld, an online customer community marketing service, to provide major brands within its global network with social networking services.

Named LiveWorld-WPP, the joint venture will be equally owned by both companies. It is exclusively dedicated to collaborating with WPP agencies to offer LiveWorld's online community and social networking services as marketing venues for WPP's global clients.

Mark Read (pictured), WPP's strategy director, said: "Online communities and social networking are starting to offer significant opportunities to forward-thinking marketers."