Puleston Jones to launch “ESG” social network

Former Futures Industry Association (FIA) head of Europe Simon Puleston Jones is set to launch a social network to rival the likes of Facebook, with an emphasis on social and environmental good.

Puleston Jones, who left the FIA at the beginning of the year to focus on his new venture, has launched a crowdfunding campaign to fund a new social media network called WokenUp.

The platform will bring together people and organisations around the world to promote their positive contributions to society, and to provide information on how their companies are making an impact according to the United Nations Sustainable Development Goals.

The aim is to build a global “social network for good” that will be a positive alternative to incumbents like Facebook, Instagram, Twitter etc.

“Times are changing. With Generation Z and others being so socially active, we’re no longer happy just talking about pressing social and environmental issues: from Brexit to #metoo, climate change and beyond - millions of us increasingly want to do something about it,” Puleston Jones, WokenUp founder and chief exec, said in a statement.  

The platform, expected to launch later this year, is set to become a go-to source for data about sustainable development goals.

“People want to work for, buy from and invest in companies with purpose.

"WokenUp is specifically designed to enable companies to effectively communicate their corporate values to the public and to demonstrate the impact that they are making on today’s pressing social and environmental issues,” Puleston Jones said.

WokenUp is backed by corporate and non-profit launch partners and is in second and third round discussions with other professional and financial services firms, as well as trade bodies, regarding partnership.

The revenue will initially come from social media advertising, fees paid by companies that post job opportunities on the platform, and premium subscription fees.

The crowdfunding campaign, launched on Crowdcube on Tuesday, is targeting £250,000.

During his time at the FIA, Puleston Jones helped to oversee the merger between the trade bodies' global affiliates into a single organisation, chaired the Joint Trade Association Group, and took lead Brexit matters.

The FIA has appointed former Deutsche’s Bank’s global head of regulatory affairs, Bruce Savage, to replace him from this summer.