The “Twitter App Store” (more of a directory, really) oneforty was just funded to the tune of $1.6 million dollars.
The TechStars incubated startup was funded by a local VC, Flybridge Capital Partners.
The money comes at a time when the startup is having a difficult time finding audience. According to Compete, the company lost 40% of its unique users in the last month.
The company is attempting to become the best directory for all things Twitter, providing tools for the new user and the Twitter old hand. The company, as far as I can tell, will attempt to monetize by helping to sell paid applications, allowing it to collect affiliate revenue.
Another possible revenue stream will be allowing developers to “claim” their applications. Wakoopa has a similar system. Whether it is a profitable concern or not remains to be seen.
As to the product itself, the company presents a clean tool. However, the Twitter app store failed to give me anything that was new. Would I send my friend there who is new to Twitter? Yes, I would. But it would seem that that person would be loath to spend money on a Twitter application, given that they are indeed new to Twitter.
Congratulations to @pistachio on the funding, we wish you the best of luck.
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