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After long years of speculation, it seems that Twitter has FINALLY given some details on how they plan to make money from what has become arguably the world's second-largest social network. As more and more third-party services have cropped up to fill in the blanks between the demands of Twitter users and the plans of the developers, much speculation and discussion has come to circulate around the microblogging platform. This week some of that speculation was put to rest when Twitter co-founder Biz Stone sat down for an interview with Bloomberg's Kristen Schweizer to discuss Twitter's plans for monetization in the near (and far) future.

Here's the meaty bits for your perusal:

“The idea is if they are getting value out of Twitter then we could add more value to what they are doing and we could get some revenue,” Twitter co-founder Biz Stone said in an interview today. “We think we’ll get to something this year, however simple, that shows we’re making some money.”

The "them" that Stone is referring to are Starbucks and Whole Foods, who thus far are the only companies that Stone has cited as being on board for this initial round of monetization. The details of exactly what services and value-adding steps Twitter will make have not been shared yet, although it widely assumed that "verification" of companies, similar to Twitter's recent "celebrity verification" system will be the very first step.

Starbucks' history with Twitter is a bit spotty. In May Starbucks launched a hashtag-based marketing campaign on Twitter, which was promptly hijacked by an anti-Starbucks filmmaker who took advantage of the publicity to incite people to post photographs of themselves standing in front of Starbucks, holding signs describing Starbucks stance against labor unions.

Whole Foods has a less extensive history with Twitter; the company has used the microblogging platform to organize contents and promotions, but no full-scale campaigns have been spotted as of yet.

Vide of the Biz Stone interview can be viewed on Bloomberg's website.

Jun 24, 2009

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