The New Stuff

FohBoh launches first social networking for global restaurant industry

fohboh.pngFohBoh today launched its social network for the global restaurant, food and beverage industry. FohBoh (short for “front of the house, back of the house”) focuses on creating the ideal social-business environment for the $500 billion U.S. market that employs over 13 million and the much larger global market. It’s the new interactive community for hourly employees, chefs, vendors and service providers— anyone interested in connecting, socializing and doing business within the industry.

FohBoh is currently free to join and is growing rapidly. To incent membership growth and participation, the company has unveiled its Rewards Program today. Members earn points by participating, contributing and inviting others to join. In addition, the first 50,000 FohBoh members are automatically enrolled in FohBoh’s 50K Club where they earn 500 points to join and 1,000 points for every referral. Members also earn 10% of the points their referred members earn, like a trailer.

In a bold, unprecedented move, the company has also set aside 4% of its stock (1 million shares) as its first redemption reward. Every 1,000 points earns one share of shadow stock and one billion points are up for grabs on a first come, first served basis. “This is our way of giving back to our membership from the start. People know social networking firms are reaping big rewards, and we want our members to share in any potential upside they help generate,” said Ted Cohn, FohBoh’s President and co-founder.

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