It was 11.05 pm and the queue outside the exclusive Embassy nightclub in Mayfair, London, was getting restless. A young man nervously adjusted his tie as a blond woman scanned the list of names on her clipboard. Two young women flounced away after being refused entry. But one phrase could guarantee immediate passage past the velvet cordon: “I’m ASW.”

ASW, or A Small World to the uninitiated, is an invitation-only social networking site for the international jetset, think Facebook for Forbes list, that lets only the most elite, connected, and moneyed into its ranks.
Nicola Cavallo, an investment banker from Milan, explained the attraction. “Everyone gets access to Facebook, but only a small number are invited to join ASW, and it is the best place to find the best people and the best parties.” he said.

In a world where more than 90 million people are on Facebook, ASW is part of a new wave of niche social networking sites springing up in cyberspace, said Mike Butcher, editor of technology website TechCrunch UK. “We’re a few years into the social networking phenomenon now and what we are increasingly seeing are sites that attract a niche audience by meeting particular needs,” he said. And although the audiences of sites such as ASW may be small, they are desirable. Founded four years ago, by Erik Wachtmeister, a former investment banker, ASW aims to provide a hidden corner of the Internet where members, often affluent, educated and with multiple residences, can swap tips on everything from investing in Cambodia to partying in Uruguay without worrying about anything as crass as being poked, high-fived or spammed. But Wachtmeister is confident the site can grow comfortably to a million users. He said: “Our goal is to grow very, very carefully... If we employ the right methodology, we can grow to a million people and still be as exclusive as we are today. The world is a big place.”

The Guardian