Will Credit Suisse's Eleven Group Be the New Facebook for Billionaires?
There may soon be a new invitation-only society for the world’s affluent, which according to Ad Age, sounds a lot like the money-making club seen in HBO’s Silicon Valley. Credit Suisse Securities filed a trademark application in October for a new New-York based company called The Eleven Group, stating that it will be a large on-line social network that will meet a wide range of needs.
“Credit Suisse would not comment on Eleven, which is believed to be in the early exploratory stage and might never come to fruition,” states Ad Age. “But it's clear that the financial services industry is aiming to attract a new generation of private wealth clients.”
Though the trademark application is fairly basic, with no mention of how much money will be required to sign up should the company launch, it certainly seems like it intends to be the answer to all billionaire needs. Assuming that the social network platform will be the centerpiece, Eleven plans on providing its members with access to private events and philanthropy opportunities.
Furthermore, Eleven will also offer access to auctions, financial investment services (like art and real estate brokerage), on-line publications befitting of high-net-worth individuals, training education, entertainment and sporting events, and security services for protection. Basically, if you have the accounts, you’re going to want to pay attention to happens with Eleven. It could be your new Facebook.