Pitcharena.com: How to make money online via social apps? 2/4

Tuesday, May 26th, 2009

During the most recent edition of Pitch Arena, we presented our business model framework to the entrepreneurs and start-ups that were present. The concept of Pitch Arena is rather straight forward. Several start-ups present their new venture to an audience of innovators and technologists in order to get valuable feedback and meet interesting people. We didn’t pitch our platform but fueled to the Q/A session with our view on the business models of the 4 presenting start-ups. With the theme of this Pitch Arena being ‘Social Applications‘, we clearly distinguished four different models being used. Let’s have a look at two of them today.

Wantz.it : dowant!

Wantz.it offers a simple wish list service to their users. People can easily submit products and services they wish to receive to their list by tagging web pages via twitter, facebook or via their own wantz.it page. Then Wantz.it gives those users different means to actively spread/expose their wish list to their friends. When such a friend decides to buy a gift after clicking on an item in the wish list, a part of the money will be sent towards the wantz.it company as a form of commission.

Tweetag : Twitter clouds!

Tweetag’s social app gives users the possibility to create specific tagclouds. The first part of their service is a form of donationware. When used in a non-commercial context, Tweetag asks for a donation fee. The biggest revenue is planned to follow from a second revenue stream though, as commercial companies will be charged when adding a cloud on their web page. While there might be limited value in knowing what everybody is talking about, it could be very interesting to see what a specific group of people is saying. A newspaper for instance could wish to add a tweet cloud to give their readers insight in what a selection of politicians is tweeting all day. By doing this tweetag creates value.