Tweeting in the money

The Financial Times reports this morning on the race to make the micro-blogging site Twitter a profitable venture.

As of next Monday Twitter will launch a bidding system, by which Tweeters can pay to have their tweet appear at the top of the internal twitter search engine. This formula of search engine advertising is similar to the system used by Google.

The new service, called TweetUp, was created by Bill Grosse, the Los Angeles-based internet entrepreneur. He told the New York Times: “TweetUp is to Twitter what Google is to the web”.

Twitter is holding its first developer conference later this week, to be held in San Francisco called Chirp where further decisions on the future of Tweeting, Twittering and turning a profit will be made.

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