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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No.       )*

LiveWorld, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
53838Q109
(CUSIP Number)
December 31, 2007
(Date of Event Which Requires Filing of This Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

      o  Rule 13d-1(b)

      o  Rule 13d-1(c)

      þ  Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

Page 1 of 13 pages

 

                     
CUSIP No.
 
53838Q109 
 

 

           
1   NAME OF REPORTING PERSONS
I.R.S. Identification No(s). of above person(s) (entities only)
Media Technology Equity Partners, LP
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)    o
  (b)    o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  California
       
  5   SOLE VOTING POWER
     
NUMBER OF   3,063,626
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   3,063,626
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  3,063,626
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  9.9%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

Page 2 of 13

 

                     
CUSIP No.
 
53838Q109 
 

 

           
1   NAME OF REPORTING PERSONS
I.R.S. Identification No(s). of above person(s) (entities only)
Media Technology Entrepreneurs Fund II LP
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)    o
  (b)    o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  California
       
  5   SOLE VOTING POWER
     
NUMBER OF   213,233
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   213,233
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  213,233
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  0.7%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

Page 3 of 13

 

                     
CUSIP No.
 
53838Q109 
 

 

           
1   NAME OF REPORTING PERSONS
I.R.S. Identification No(s). of above person(s) (entities only)
Thomson Management Growth Fund LP
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)    o
  (b)    o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  California
       
  5   SOLE VOTING POWER
     
NUMBER OF   107,694
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   107,694
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  107,694
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  0.3%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN

Page 4 of 13

 

                     
CUSIP No.
 
53838Q109 
 

 

           
1   NAME OF REPORTING PERSONS
I.R.S. Identification No(s). of above person(s) (entities only)
Presidio Group, LLC
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)    o
  (b)    o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  California
       
  5   SOLE VOTING POWER
     
NUMBER OF   183,823
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   183,823
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  183,823
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  0.6%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO

Page 5 of 13

 

                     
CUSIP No.
 
53838Q109 
 

 

           
1   NAME OF REPORTING PERSONS
I.R.S. Identification No(s). of above person(s) (entities only)
The Weinman Family Trust dtd 9/25/08
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)    o
  (b)    o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  California
       
  5   SOLE VOTING POWER
     
NUMBER OF   667,647
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   667,647
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  667,647
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  2.2%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO

Page 6 of 13

 

                     
CUSIP No.
 
53838Q109 
 

 

           
1   NAME OF REPORTING PERSONS
I.R.S. Identification No(s). of above person(s) (entities only)
MTEP Management, LLC
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)    o
  (b)    o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  California
       
  5   SOLE VOTING POWER
     
NUMBER OF   3,384,553*
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   3,384,553*
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  3,384,553*
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  10.7%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO
* Includes 3,063,626 shares held by Media Technology Equity Partners LP (“MTEP”), 213,233 shares held by Media Technology Entrepreneurs Fund II LP (“MTEF”) and 107,694 shares held by Thomson Management Growth Fund LP (“Thomson”). The Reporting Person is the general partner of MTEP, MTEF and Thomson.

Page 7 of 13

 

                     
CUSIP No.
 
53838Q109 
 

 

           
1   NAME OF REPORTING PERSONS
I.R.S. Identification No(s). of above person(s) (entities only)
Barry M. Weinman
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)    o
  (b)    o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States
       
  5   SOLE VOTING POWER
     
NUMBER OF   668,647*
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   3,384,553**
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   668,647*
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    3,384,553**
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  4,053,200* **
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  13.1%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
* Includes 667,647 shares held by The Weinman Family Trust dtd 9/25/98, of which the reporting person is trustee.
** Includes 3,063,626 shares held by Media Technology Equity Partners LP (“MTEP”), 213,233 shares held by Media Technology Entrepreneurs Fund II LP (“MTEF”) and 107,694 shares held by Thomson Management Growth Fund LP (“Thomson”). The Reporting Person is a managing director of MTEP Management, LLC, the general partner of MTEP, MTEF and Thomson.

Page 8 of 13

 

                     
CUSIP No.
 
53838Q109 
 

 

           
1   NAME OF REPORTING PERSONS
I.R.S. Identification No(s). of above person(s) (entities only)
Robert R. Ackerman
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

  (a)    o
  (b)    o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States
       
  5   SOLE VOTING POWER
     
NUMBER OF   183,823*
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   3,384,553**
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   183,823*
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    3,384,553**
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  3,568,376* **
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  11.6%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
* Shares are held by Presidio Group, LLC, of which the reporting person is the managing member.
** Includes 3,063,626 shares held by Media Technology Equity Partners LP (“MTEP”), 213,233 shares held by Media Technology Entrepreneurs Fund II LP (“MTEF”) and 107,694 shares held by Thomson Management Growth Fund LP (“Thomson”). The Reporting Person is a managing director of MTEP Management, LLC, the general partner of MTEP, MTEF and Thomson.

Page 9 of 13

 

Item 1.  
  (a)   Name of Issuer
LiveWorld, Inc.
  (b)   Address of Issuer’s Principal Executive Offices
40 Stevens Creek Blvd., Suite 101
San Jose, CA 95129
Item 2.  
  (a)   Name of Person Filing
Media Technology Equity Partners LP (“MTEP”)
Media Technology Entrepreneurs Fund II LP (“MTEF”)
Thomson Management Growth Fund LP (“Thomson”)
Presidio Group, LLC (“Presidio”)
The Weinman Family Trust dtd 9/25/98 (the “Trust”)
MTEP Management, LLC (“MTEP LLC”)
Barry M. Weinman
Robert R. Ackerman
  (b)   Address of Principal Business Office or, if none, Residence
130 Lytton Avenue, Suite 210
Palo Alto, CA 94301
  (c)   Citizenship
         
 
  Entities:   MTEP — California
 
      MTEF — California
 
      Thomson — California
 
      Presidio — California
 
      Trust — California
 
      MTEP LLC — California
 
       
 
  Individuals:   Barry M. Weinman — United States
 
      Robert R. Ackerman — United States
  (d)   Title of Class of Securities
Common Stock
  (e)   CUSIP Number
53838Q109
Item 3.   If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:
Not applicable

Page 10 of 13

 

Item 4.   Ownership
                                 
    Media            
    Technology   Media Technology   Thomson    
    Equity Partners   Entrepreneurs Fund   Management   Presidio Group,
    LP   II LP   Growth Fund LP   LLC
(a) Beneficial Ownership
    3,063,626       213,233       107,694       183,823  
(b) Percentage of Class
    9.9 %     0.7 %     0.3 %     0.6 %
(c) Sole Voting Power
    3,063,626       213,233       107,694       183,823  
Shared Voting Power
    -0-       -0-       -0-       -0-  
Sole Dispositive Power
    3,063,626       213,233       107,694       183,823  
Shared Dispositive Power
    -0-       -0-       -0-       -0-  
                                 
    The Weinman                
    Family Trust dtd   MTEP           Robert R.
    9/25/98   Management, LLC   Barry M. Weinman   Ackerman(2)(3)
(a) Beneficial Ownership
    667,647       3,384,553       4,053,200       3,568,376  
(b) Percentage of Class
    2.2 %     10.7 %     13.1 %     11.6 %
(c) Sole Voting Power
    667,647       -0-       668,647 (1)     183,823 (3)
Shared Voting Power
    -0-       3,384,553       3,384,553 (2)     3,384,553 (2)
Sole Dispositive Power
    667,647       -0-       -0-       -0-  
Shared Dispositive Power
    -0-       3,384,553       3,384,553 (2)     3,384,553 (2)
 
(1)   Includes 667,647 shares held by the Trust, of which the reporting person is trustee.
 
(2)   Includes 3,063,626 shares held by MTEP, 213,233 shares held by MTEF and 107,694 shares held by Thomson. The Reporting Person is a managing director of MTEP LLC, the general partner of MTEP, MTEF and Thomson.
 
(3)   Shares are held by Presidio, of which the reporting person is the managing member.
Percentage of Class based on 30,862,811 issued and outstanding shares of Common Stock of the Issuer as reported in the Issuer’s Form 10-QSB filed on November 9, 2007.
Item 5.   Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: o
Item 6.   Ownership of More than Five Percent on Behalf of Another Person
     Not applicable.
Item 7.   Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.
     Not applicable.
Item 8.   Identification and Classification of Members of the Group
     Not applicable.
Item 9.   Notice of Dissolution of a Group
     Not applicable.
Item 10.   Certification
     Not applicable.

Page 11 of 13

 

SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
February 21, 2008
                     
MEDIA TECHNOLOGY EQUITY PARTNERS LP       MEDIA TECHNOLOGY ENTREPRENEURS FUND II LP  
 
                   
By:
  MTEP Management, LLC       By:   MTEP Management, LLC    
 
  its general partner           its general partner    
 
                   
By:
  /s/ Barry M. Weinman       By:   /s/ Barry M. Weinman    
 
                   
 
  Barry M. Weinman           Barry M. Weinman    
 
  Managing Member           Managing Member    
 
                   
THOMSON MANAGEMENT GROWTH FUND LP       PRESIDIO GROUP, LLC
 
                   
By:
  MTEP Management, LLC                
 
  its general partner                
 
                   
 
          By:   /s/ Robert R. Ackerman    
 
                   
 
              Robert R. Ackerman    
 
              Managing Member    
 
                   
By:
  /s/ Barry M. Weinman                
 
                   
 
  Barry M. Weinman
Managing Member 		               
 
                   
THE WEINMAN FAMILY TRUST DTD 9/25/98       MTEP Management, LLC
 
                   
By:
  /s/ Barry M. Weinman       By:   /s/ Barry M. Weinman    
 
                   
 
  Barry M. Weinman           Barry M. Weinman    
 
  Trustee           Managing Member    
 
                   
     /s/ Barry M. Weinman                
                 
     Barry Weinman                
 
                   
     /s/ Robert R. Ackerman                
                 
     Robert R. Ackerman                
EXHIBITS
A:   Joint Filing Agreement

Page 12 of 13

 

EXHIBIT A
JOINT FILING AGREEMENT
     In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the Common Stock of LiveWorld, Inc. and further agree that this agreement be included as an exhibit to such filing. Each party to the agreement expressly authorizes each other party to file on its behalf any and all amendments to such statement. Each party to this agreement agrees that this joint filing agreement may be signed in counterparts.
     In evidence whereof, the undersigned have caused this Agreement to be executed on their behalf this 21 st day of February, 2008.
                     
MEDIA TECHNOLOGY EQUITY PARTNERS LP       MEDIA TECHNOLOGY ENTREPRENEURS FUND II LP
 
                   
By:
  MTEP Management, LLC       By:   MTEP Management, LLC    
 
  its general partner           its general partner    
 
                   
By:
  /s/ Barry M. Weinman       By:   /s/ Barry M. Weinman    
 
                   
 
  Barry M. Weinman
Managing Member 		          Barry M. Weinman
Managing Member 		   
 
                   
THOMSON MANAGEMENT GROWTH FUND LP       PRESIDIO GROUP, LLC
 
                   
By:
  MTEP Management, LLC                
 
  its general partner                
 
                   
 
          By:   /s/ Robert R. Ackerman    
 
                   
 
              Robert R. Ackerman    
 
              Managing Member    
 
                   
By:
  /s/ Barry M. Weinman                
 
                   
 
  Barry M. Weinman                
 
  Managing Member                
 
                   
THE WEINMAN FAMILY TRUST DTD 9/25/98       MTEP Management, LLC
 
                   
By:
  /s/ Barry M. Weinman       By:   /s/ Barry M. Weinman    
 
                   
 
  Barry M. Weinman           Barry M. Weinman    
 
  Trustee           Managing Member    
 
                   
     /s/ Barry M. Weinman                
                 
     Barry Weinman                
 
                   
     /s/ Robert R. Ackerman                
                 
     Robert R. Ackerman                

Page 13 of 13

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