NEW YORK—MWW Group has launched MWW Ventures, a strategic venture arm that will focus on incubating media, marketing and public relations-related services and technologies and providing new tools to brands and media properties.
"The future of the communications industry will be defined by innovations that not only create value and relevance for our clients, but evolve how society as a whole interacts with the world around us,” says Michael Kempner, president and CEO of MWW Group, who says the new group is about developing “next-generation strategies, platforms and technologies for tomorrow’s communications campaigns.”
MWW Ventures will work with companies such as venture capital firms, incubators, trade associations, media partners and universities in areas such as measurement and analytics, social media management, media targeting, communications CRM, design, media management, audience building and content creation spaces, and will explore strategic investment opportunities, emerging business models, incubator programs and other initiatives.
The first addition to the MWW Ventures portfolio is BuzzMob, a location-based social media platform. MWW Group will invest its resources and services—media relations, event support, community management and more—in exchange for equity in the start-up, which launched in August 2010 and provides a mobile platform that lets people join real-time, social communities called “rings” at customizable locations.
According to Ephraim Cohen, MWW’s executive vice president, global head of technology and digital content, "BuzzMob is perfectly positioned to capture the need to form social networks around offline line events and, as a result, create new, more effective marketing opportunities for brands."