The Financial Times is launching an exclusive, membership-only social network. Membership can cost up to $4,000 a year.

According to The Guardian, the FT media and technology executive membership forum will help senior execs stay in contact with each other and act as a marketing tool for events and conferences.

Membership includes free attendance to any of FT's conferences, 20 percent off subsequent events and in-person networking galas; and a 12-month premium subscription to FT.com.

Selling the social network upmarket is something aSmallWorld tried doing for jet-setters. aSmallWorld is free to join, but new members must have referrals from existing users.

FT aims to do the same for other sectors, such as luxury goods and property, later this year.