NEW YORK: MWW Group has launched MWW Ventures, an investment unit that will provide resources for start-ups.
“The PR industry has gone from being one that was steeped in long-established editorial practices to one that is increasingly being driven by innovations in technology,” said Ephraim Cohen, EVP and global head of tech and digital content at MWW.
The agency's senior management team will run the new unit. BuzzMob, a mobile app that creates a location-based social network, is the first company in the MWW Ventures portfolio. MWW also launched the Net Relevance measurement and analytics tool last month.
Cohen said BuzzMob “is exactly the type of technology and service that can impact the media marketing industry, and that we can also make use of for client programs.”
BuzzMob, which launched at the end of 2010 and entered the consumer sphere in August 2011, allows user to create a “ring,” which is a digital area around a physical location in which anyone can communicate or share content with the creator, said Jeff Jackel, founder and CEO of the company.
“What we're doing now is really focusing on business-to-business relationships, and allowing companies and organizations with physical locations to connect to all of their attendees and customers on a real-time basis on their handset,” he said.
Jacket said the relationship with MWW is “opening a lot of doors to partnerships” with companies that have physical locations, as well as those that don't. MWW will look at ways to use BuzzMob in sectors such as hospitality, travel, and politics, he added.