Jul. 9, 2009
paidContent - CoTweet Raises $1.1 Million To Manage Corporate Twitter Accounts
CoTweet, a startup whose software is behind many high-profile corporate Twitter accounts, has raised $1.1 million in a first round of funding. Investors include Baseline Ventures, Founders Fund, First Round Capital, SV Angel, Maples Investments, and Freestyle Capital. The company’s platform provides multiple tools for corporate Twitter users, including the capacity to manage multiple accounts at once and allow several people to post to a single account.
Starbucks, the City of San Francisco’s 3-11 program, JetBlue, and Microsoft (NSDQ: MSFT), are among users. For now, it’s free although CEO Jesse Engle tells the WSJ that the company plans to eventually charge. Twitter too has talked about making money from its corporate users.
It’s the latest company in the Twitter ecosystem to raise funds. Last month, startup site ChubbyBrain calculated that, to date, investors have put $23 million into 11 startups with businesses that revolve around the site. Twitter itself has raised $55 million. Release.
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By Joseph Tartakoff
Copyright 2009 paidContent (http://paidcontent.org/)
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