Twitter gearing up to launch its “paid service”
Just a few days after Microsoft launched its sponsored site, ExecTweets that uses Twitter technology, the social networking and micro-blogging service, Twitter is looking to generate money from its messaging service. Well, Twitter is planning to launch its paid service this year.
The San Francisco, California based messaging service yesterday broke the news that it is planning to introduce the "enhanced" commercial Twitter accounts, the accounts with expanded features for a fee. According to Twitter, the enhanced commercial accounts will help the site generate revenue, grow, and compete with the rival social networks, like Facebook.
Twitter co-founder Biz Stone, without revealing the details, stated that Twitter is gearing up to roll out its paid service. Stone told that that Twitter's fee-based service is under development yet. He said, "We want to work with those companies that are already making an effort." Stone reported that Twitter has employed a product manager to lead the development of commercial accounts that will provide additional features for a fee.
However, the $255 million worth company, Twitter has not yet officially revealed the fee details about enhanced commercial accounts and what would the "enhanced" commercial accounts include.
Presently, Twitter lets its users "microblog" or send messages of no more than 140 characters. The Twitter messages, or "tweets," can be embedded on sites and blogs and received via PCs and mobile phones. The site has attracted millions of users, including popular celebrities, businessmen, and politicians.
On the company blog, Stone said, "Twitter will remain free to use by everyone -- individuals, companies, celebrities, etc. What we're thinking about is adding value in places where we are already seeing traction, not imposing fees on existing services."
Twitter has recently unveiled an initiative for companies to become sponsors. Under the initiative, the San Francisco online ad firm, Federated Media will develop websites to showcase Twitter messages about a particular topic. The companies are allowed to sponsor the pages, with Federated Media sharing some of the proceeds with Twitter.
Featuring tweets by various business leaders, ExecTweets, the site sponsored by Microsoft was launched on Monday. Sponsored by AT&T, MarchTweetness featuring the NCAA basketball tournament was launched on Thursday.
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