Twitter payments start-up Chirpify raises $1.3m | Social Media | Mobile Entertainment

Twitter payments start-up Chirpify raises $1.3m

Twitter payments start-up Chirpify raises $1.3m
Tim Green

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Social / Twitter / April 24th 2012 at 2:43PM

Wants to take its platform from brands to regular 'civilians'.

Chirpify has only been around a few months, but its proposition is wildly simple and has mouth-watering potential.

Essentially, it turns Tweets into transactions, enabling consumers to buy stuff using simple commands such as "buy", "pay" and "donate".

So far, the firm has attracted the attention of bigger brands. But it recognises the value of its platform to individuals - musicians, craftspeople - who might have a product or service to sell.

Here's how it works: The digital item is uploaded using the Chirpify user's dashboard. A tweet is sent out with instructions on how to buy the item. This could be a simple as a rewet using the word 'buy'. This action deducts the amount from a linked PayPal account and returns a secure buy link.

Non-members who click buy are sent a tweet inviting them to sign up.

"Twitter is a tremendous platform for brands, retailers, politicians, musicians and others to engage fans, yet with more than 140 million users there's still no way to directly exchange goods and currency," said investor and HootSuite CEO Ryan Holmes.

"Chirpify provides a unique approach to fill this void by processing transactions without ever having to leave Twitter."

The firm collects a two per cent fee on top of the PayPal fees. For its commerce plans, the company charges a two per cent fee on its free service tier and takes no fees on its paid, enterprise-level service.

The new series A financing came from Voyager Capital, Geoff Entress, BuddyTV CEO Andy Liu, Rudy Gadre, HootSuite CEO Ryan Holmes, and TiE Oregon Angels.