Twitter alternative raises US$500,000
Mon, 13 Aug 2012 1:34p.m.
By 3 News online staff
Social network app.net has raised US$500,000 to develop an ad-free alternative to Twitter.
The Kickstarter-like project got financial backing from over 7,500 users, who are willing to not only pay to use the service, but invest in it.
In a final plea for cash to reach the $500,000 goal, app.net founder Dalton Caldwell says "advertising-supported social services are so consistently and inextricably at odds with the interests of users and developers that something must be done".
Most backers opted for the cheapest option – US$50. For that they get one year of membership and will be able to claim their current Twitter handle on the new site.
Nearly 2000 people invested $100, which bought them membership and access to developer tools to create apps.
Fifty-nine people dug deep to give $1000, buying them a personal meeting with Mr Caldwell.
Twitter in recent times has tried to monetise its 100 million-plus users by putting paid-for tweets in users' timelines and allowing advertisers to sponsor trending topics.
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