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June 1, 2011

Twitter Acquires "AdGrok"Moving Towards Monetizing Tweets

It seems Twitter is finally moving to get its Revenue Model in Place .In their quest  for e generating ad revenue one of its priorities, it  has acquired AdGrok, a company whose software is designed to simplify the creation and management of campaigns using Google's AdWords search advertising service. While AdGrok aims to simplify search engine marketing campaigns, the platform could be adapted and used by Twitter to help monetize promoted and trending tweets

AdGrok, which came out of beta just two months ago, makes a tool that simplifies the process of setting up Google AdWords campaigns. It’s “Grokbar” lets customers look at any page on their websites and see data about the Google AdWords campaigns that point to it — including the cost of each campaign and how well it is working.Customers can see exactly how much they’re paying for each campaign and how well it’s performing.

Another cool feature involves integration with Shopify, a service that powers online stores. Sites that use Shopify can upload all of their inventory into AdGrok, create ad campaigns around each product, and then immediately end the campaign once they’ve sold out of a specific item. By  Integrating Adgrok, Twitter is looking to create a much more involved advertising platform for clients wishing to promote their messages through Twitter.

Buying AdGrok  is an indication  that Twitter is ready to start providing statistics and relevant data to its users, which has traditionally been handled by third-party services. The company has  earlier clearly spoke out against "Third party" providers, by apparently developing its own photo sharing feature and improving notification suppor

Starting today, the AdGrok team will start working full-time on Twitter’s “revenue engineering team.” Most likely they’ll be working on the microblogging platform’s self-service advertising program, which is currently in its beta phase and has many similarities to Google AdWords. The program allows small advertisers to buy their own promoted tweets, promoted accounts and promoted trends.

AdGrok offers free and paid services — the “standard” package is $20 per month. It was incubated at Y Combinator and has raised $470,000 from Chris Sacca, Russ Siegelman, Ben Narasin, and TriplePoint Capital. Customers include Eventbrite and Kiva.