• September 12, 2007

Brand Networks, a next-generation company focused on creating buzz through word of mouth, opened on Tuesday in Boston. Jamie Tedford, a former Arnold executive and board member of the Word of Mouth Marketing Association, leads the company.

Tedford says the company developed a social networking platform, as well as a universal rewards-based currency program called "tokns" that companies can use to engage consumers across any social network site. He declined to reveal the company names testing the products, but says one chose to conduct a private beta of the currency, too.

The networking software called BrandNets connects consumers with brands and other like-minded people. Through personal profiles, groups, viral tools, widgets, games and other applications, the platform enables companies to build a community that allows consumers to engage with brands, inspiring two-way dialogue. The application also offers the ability to run research reports, as well as hold focus groups.

--Laurie Sullivan