Loopthing, a contender for the throne currently occupied by business social network LinkedIn, plans to have more than 80,000 businesses registered to its global digital marketplace by the end of this year.
Loopthing, which was founded by Irish entrepreneur Joseph Kelly, already has 100 businesses using the network.
Loopthing is designed as an addition to a company’s website, to boost the communication, networking and revenue-generating capabilities of business communities on a local, national and international level.
The company develops industry-specific applications to facilitate transactions in a centralised social business network enabled through video, audio, pictures and open file formats.
“What we’re providing here is a new route to market for businesses worldwide. What’s most amazing about this is that we figured out a way to connect individuals and businesses through social media, so that everyone can benefit,” Kelly said.
“It costs nothing to join and use the network, because our business model involves using only open-source technology to keep the development and running costs low,” he added.
“Much in the same way as Twitter became a new broadcasting tool, Linkedin an employee networking tool, and YouTube as your video channel, Loopthing wants to be seen as any company’s interactive online business card.”
The project recently completed its second release, and the third release of features is already well underway.
By John Kennedy
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