Financial Services (105)
"Pay with a tweet"
“Pay with a tweet” is the first social payment system where you can pay online with the value of your social network. The system is really simple. Every time somebody pays with a tweet, he or she spreads the word about your product in his social network. The two founders used the system to promote their book released in 2010.
Why it matters
Leif Abraham and Christian Behrendt realized that in this day and age the value of people talking about your product is sometimes higher than the money you would get for it directly. Brands have started to follow this trend but the real question is what is the exact price of a tweet?
The German weekly newspaper ‘Die Zeit’ published an online calculator and infographic generator that shows the management efficiency of various football clubs. For example, it calculates how much a goal in the Premier League costs or how much a single successful pass is worth by taking the club’s spending budget into account.
The Gitanjali Group has set up a vending machine in an Indian luxury shopping mall that dispenses jewelry made from gold and diamonds. The products are sold at a retail price ranging between $US200 – 600.