The founder and CEO of idealab, Bill Gross, is launching another company–TweetUp. It might be described as AdWords or AdSense for Twitter.
TweetUp creates a marketplace like Google’s where advertisers and individuals can bid for Twitter followers and the distribution of sponsored tweets.
Soon, we’ll be able to show you how Tweetup’s service works in real-time, because we’ll be participating in the product’s launch. But the basic idea is that advertisers will be able to buy keywords and bid for the chance to attract Twitter followers and distribute sponsored tweets.
TweetUp already has extraordinary backing: In addition to Idealab, Index Ventures, Steve Case, betaworks, Jason Calacanis, and others have invested. Having founded and launched GoTo.com (Overture), Snap.com, and dozens of other consumer-facing Internet companies, Bill Gross has a ton of experience with products and services like this.TechCrunch has written a good overview of the product here. TweetUp’s press release follows.
PASADENA, CA – APRIL 12, 2010 – TweetUp, Inc., announced today a new Twitter marketplace
designed to showcase the world’s best tweeters and enable them to grow a highly targeted
following. TweetUp is a new patent-pending platform that combines the popularity, relevance and
influence of tweets and tweeters with a bid-based marketplace. Major partners, including leading
Twitter search clients and top web sites, will display the results, enabling users to easily find the
best tweets and tweeters in the world.
TweetUp was founded by Bill Gross at Idealab, where he also devised the first model for paid
internet search, Overture/Goto.com, over a decade ago. TweetUp is backed by Index Ventures
(investor in Skype, last.fm, Myheritage and Playfish), betaworks (investor in Twitter, TweetDeck,
Bit.ly), Revolution LLC (founded by Steve Case, investor in Zipcar, LivingSocial, Everyday Health),
First Round Capital (investor in Mint.com, StumbleUpon, CoTweet), Jason Calacanis (founder of
Mahalo) and Jeff Jarvis (founder of BuzzMachine).
“Twitter has such tremendous potential as a real-time information network far beyond what has
been realised to date,” said Bill Gross, Founder and CEO of TweetUp. “For most people, though,
80% or more of the tweets that fly by them when they’re searching for something are useless
noise. For serious tweeters, the task of attracting interested and relevant followers is equally
daunting. TweetUp will change all of that.”
TweetUp has addressed the needs of both users and tweeters in a single search mechanism. In
addition to an algorithm that combines a variety of factors to determine relevance, tweeters can
bid on keywords in a competitive marketplace very similar to what now occurs at Internet search
engines. This sophisticated combination of factors pushes the best tweets to the top of the results
of users’ searches, allowing them to find the most compelling tweeters, and it enables serious
tweeters to expand their following quickly and cost-effectively. TweetUp search will work
alongside Twitter’s traditional search to provide a richer array of results.
Danny Rimer, a partner with Index Ventures, TweetUp’s lead investor, said, “TweetUp is an
opportunity to bring real-time information to the entire Web, and to do it in a way that creates
value for everyone concerned. We feel that TweetUp can dramatically improve both the utility
and ubiquity of Twitter, and in doing so build a monetization mechanism for real-time search that
rivals that of traditional Internet search.”
TweetUp’s search results will be available to hundreds of millions of individuals through revenue-
sharing distribution agreements with leading Twitter clients, including one of the leading multi-
platform clients, Seesmic, one of the leading Android clients, Twidroid, the leading source of
tweets, TwitterFeed, and the leading social media authority and influence ranking system, Klout,
as well as popular web sites including BusinessInsider.com, Answers.com, and PopURLs.
Together, these clients and web sites will bring TweetUp search results to more than 40 million
unique users per month and serve more than half a billion impressions per month.
“We believe that the impact of the real-time web, and of Twitter in particular, has only just
begun,” explains John Borthwick of betaworks, a major investor in TweetUp as well as in
TweetDeck and Bit.ly. “Because TweetUp will be accessed on mainstream websites across the
world, Twitter will be introduced to hundreds of millions of new people. Furthermore, these new
users will experience thoughtful tweets, in context, targeted to them according to their areas of
interest, and delivered from serious tweeters who care about building a passionate audience.””When we created AOL 25 years ago, we believed in the power of community and built a significant company around it,” said Steve Case, AOL co-founder and founder of Revolution LLC.
“Twitter is proving the power of community continues to thrive, and I am excited to be backing Bill
Gross and TweetUp as they innovate in the social media space by making Twitter more useful to a
With today’s announcement, TweetUp launches a public beta period in which tweeters can open
an account and begin adding search keywords to their profile. For the first 1000 who sign up, the
company is providing a $100 in credits to allow tweeters to see how TweetUp’s network can
improve their standing in search results and attract more followers.
TweetUp (www.tweetup.com) is a product of Idealab (www.idealab.com), where Bill Gross also
devised the first model for paid internet search, Overture/Goto.com, over a decade ago. Then,
like now, the goal was creating a business model that would both improve the relevance of search
results and enable a steady revenue stream for publishers. Today, the amount of noise in the
Twitter feed is crying out for a similar solution, and TweetUp was formed to provide it.
Business Insider Emails & Alerts
Site highlights each day to your inbox.