Strait from the Executive Suite comes the ExecTweet
By Azam on March 23, 2009
Twitter is making moves on the business end with ExecTweets using Federated Media and sponsored by Microsoft. Twitter is using the widgets and search function to promote a new feature called the ExecTweet.
ExecTweets is a third party site to use Twitter’s service for the business community to organize data in a narrow and more focused niche of business related content. ExecTweets is a community of top executives using twitter towards more a more focused audience. The evolution of the tweets will be interesting as executives use to promote ideas and efforts and how the interaction develops into a conversation. Obviously, the hierarchical nature will change the dynamics and type of content being used, but may reduce the noise level that can be observed due to lack of organization and direction.
ExecTweets could be described as an executive Digg where users interact and rate quality of content. The voting feature can be very useful in culling the best info from the execs and for sharing purposes. ExcutiveTweets will highlight the best execs, links, and create tags for topics being most discussed. ExecTweets describes the features and has a current list of executives that are being featured in ExecTweets.
Twitter has raised an additional round of capital and is obliged to start developing a business model that will generate revenues and path towards profitability. ExecutiveTweets is an example of a business model twitter is likely to evolve into revenue and profit sharing sustainable model. The widget and search model will likely indicate future opportunities to develop revenues. The fact that third party applications are being featured and utilized in a method to harness the user massive user content that is generated by users show that vast opportunity and potential can be tapped.
From VentureBeat
So how much? Well, Federated Media won’t say exactly, but it did bring up revenue sharing. “We can’t talk about terms of the deal, but we did want to share some of the revenue with Twitter to support them,” Federated Media’s John Battelle tells me. There is a plan to make revenue with the service beyond Microsoft’s sponsorship, Federated Media marketing manager Matthew DiPietro tells me.
Perhaps even more interesting is that FM hopes this will be the beginning of a long relationship with Twitter when it comes to advertising/promotion, Matthew DiPietro went on to say. And FM is hoping to work with other companies on similar projects.
Twitter recently raised a recent round of $35M in funding from Benchmarck and Institutional Venture Partners on a valuation said to be in the range of $230 and $250 M. Twitter previously raised funds from Union square and Spark Capital in a $4M round.
Reading List
VentureBeat The Business model begins: Twitter to promote FM and Microsoft Backed ExecTweets
WSJ Twitter, Seeking Revenues, Launches Microsoft Sponsored Site
Tags : , ExecTweet, FederatedMedia, John Battelle, Microsoft, tweet, twitter