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NEW YORK WPP Group has strengthened its ties to social network builder LiveWorld, taking an undisclosed stake in the company.
WPP was the lead investor in a $2 million funding round closed by LiveWorld. The round, which included Abundance Partners, Allegis Capital and DragonBridge, sold 3.7 million shares in the firm.
In July, WPP and LiveWorld formed a joint venture, WPP-LiveWorld. As part of that deal, WPP received warrants to buy 2 million shares of LiveWorld.
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