Chirpify, a payment platform that utilizes Twitter to conduct transactions, announced on April 24, that the company has secured $1.3 million in Series A funding from a group of investors including Voyager Capital, angel investor Geoff Entress, BuddyTV CEO Andy Liu, former Facebook executive Rudy Gadre, HootSuite CEO Ryan Holmes, and TiE Oregon Angels.
Chirpify, originally known as Sell Simply, has created an all-in-one tool that utilizes PayPal and allows Twitter users to monetize their tweets. Simply put, it turns Twitter into a direct sales channel. The Portland, Oregon, start-up is looking to leverage the popularity of Twitter to create tools for brands, organizations, and users to sell items, take donations and accept payments, all within the Twitter framework. The first brand to sign up for the new service is PowerBar, which plans on selling product directly through Twitter.
Chirpify works in the following way: a brand on Twitter can connect its PayPal business account to Chirpify and then start tweeting out items for purchase through a dashboard. When a user replies stating they would like to purchase the item, the funds will be deducted from their PayPal account. The type of sales tweets range from time-sensitive deals to items on sale or clearance items. Chirpify will parse the tweet and fulfill the transaction if the buying user has connected their PayPal account to Chirpify using a quick OAuth permission. If the buyer doesn’t have a PayPal account, they are prompted to create one and connect to Chirpify. PayPal is the first option, although the company is exploring other payment options.
Chirpify will take 4% of transactions from recipients utilizing a free Chirpify account. For $49/mth, the fee for sellers and recipients drops to 2%. Larger brands can pay $500 for no fees and deep integration into their backend software. Currently, Chirpify can integrate with the ecommerce software Magneto, allowing sellers to manage their sale items on Twitter through Magneto.
Musicians can also upload their content to their Chirpify dashboard and tweet out to their followers to purchase their music.
Currently, Nestle and Hewlett-Packard are experimenting with Chirpify.
With the recent surge of content providers such as comics, Louis C.K. and Aziz Ansari, selling directly to the fans, Chirpify’s integration with Twitter may be the bridge between brands and their fans.
Chris Teso is the founder of Chirpify.
Sources: gigaom.com, auctionbytes.com