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LiveWorld Raises $2 Million With Investment Round Led by WPP
Leading online community/social networking marketing
agency raises cash in response to increasing
demand
LOS GATOS, Calif. (Sept. 12, 2006): LiveWorld, Inc. (OTC Pink
Sheets: LVWD.PK), a world leader in online customer community
marketing services, today announced that it has raised a $2
million cash round, with WPP (NASDAQ: WPPGY), as the lead
investor.
"Positive response to our full service solution and the
LiveWorld-WPP joint venture (see related July 13, 2006 press
release) is growing," said Peter Friedman, Chairman & CEO
of LiveWorld. "While our business model is proven as
fundamentally cash positive and profitable, additional cash
strengthens our balance sheet and positions us to further
invest to support expected growth."
"In less than two months since announcing the LiveWorld-WPP
joint venture, we have already closed new community marketing
programs with major brands," said Mark Read, Strategy Director,
WPP and CEO of wpp.com. "This additional investment reflects
this momentum and our commitment to growing our joint
leadership in this space."
Other participants in this LiveWorld investment round include
Abundance Partners LP, several partners of Allegis Capital, a
California-based venture capital firm with an existing position
in LiveWorld, and several partners in the DragonBridge, a fund
focused on the development of new business in China. LiveWorld
issued 3,676,470 shares of common stock for the $2 Million
raised.
About LiveWorld, Inc.
LiveWorld (Pink Sheets:LVWD - News; www.liveworld.com) is the
leading interactive marketing agency specializing in online
customer communities and social networking for Fortune 1000
companies. LiveWorld creates, operates, and manages custom
customer communities based on its unique community applications
and moderation platform. LiveWorld solutions enable companies
to strengthen customer relationships, increase revenues, and
reduce costs. With twenty years of experience, an extensive
applications platform, over 1 Million hours of delivered
moderation and nearly $10 Million in revenue, LiveWorld is the
trusted partner of leading brands worldwide. Clients include
America Online, A&E; Television Networks, AOL UK, BEA
Systems, eBay, The Campbell Soup Company, Discovery
Communications, Dove, HBO, Intel, MacWorld & PC World, MINI
Cooper USA, Land Rover, MTV, QVC, Tulane University and TV
Guide. LiveWorld is headquartered in Los Gatos, California and
deploys its services in over 30 country-language
combinations.
For further information, visit www.liveworld.com
About WPP:
WPP (NASDAQ: WPPGY) is one of the world’s leading
communications services groups, providing national,
multinational and global clients with advertising; media
investment management; information, insight & consultancy;
public relations & public affairs; branding & identity,
healthcare and specialist communications.
For further information, visit www.wpp.com
Safe Harbor Statement Under The Private Securities
Litigation Reform Act:
This press release may include forward-looking information
concerning LiveWorld’s future expectations and prospects.
These statements include those regarding LiveWorld’s
current or future relationships. Actual results may differ
materially from those expressed in the forward looking
statements made as a result of, among other things, the state
of the economy, LiveWorld’s ability to successfully
deliver upon its contractual commitments, clients continuing
their ongoing relationships with the Company, LiveWorld’s
ability to acquire new customers, changing accounting
treatments, and other risks applicable to the Company. (See the
Company’s Q3, 2002 10Q filing for a list that includes
other possible risk factors.) LiveWorld recently announced that
it has resumed auditing its financials and expects to begin
releasing audited results Q3 of 2006.
LiveWorld Contacts:
PR Contact: Betty Taylor, bettyt@krause-taylor.com
, Ph: 408-918-9080
IR Contact: Brinlea Johnson: The Blueshirt Group, for
LiveWorld, 212 867-2593
WPP Contacts
PR Contacts: Kevin McCormack, WPP Group USA, kmccormack@wpp.com , Tel: +1
(212) 632 2239 or Feona McEwan, WPP Group UK, fmcewan@wpp.com , Tel: +44 20 7318
0108