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Some of the world's best known brands have begun embracing social networking in hopes of reaching a young, Internet-savvy audience, says Peter Friedman, CEO of LiveWorld, which creates and manages private-label social networks for large companies including A&E Television Networks, Campbell Soup Co. [CPB] and Kraft Foods Inc. [KFT].

"Many companies are adding more social networking activities," Friedman tells Tech Confidential in our Behind the Money video interview. "Our business is all about helping major brands market through the use of social networking."

LiveWorld recently released LiveBar, a new product that provides commenting capabilities reminiscent of Twitter Inc.'s microblogging service. Tulane University is one of the first to use LiveBar.

Friedman has been developing social networking services since the mid-1980s when he was the general manager of Apple Inc.'s [AAPL] online business unit. He founded LiveWorld [LVWD.PK] in 1996. He's seen a lot of changes during the past 20-plus ...