Twitter charity a fistful of Twollars

May 28, 2009 By Michelle Ye Hee Lee

You don't have to be a Twillionaire to donate to a charity in the Twittersphere.

The latest version of Twollars, or "the currency of appreciation," launched Friday with a basic concept _ using virtual currency to generate "real" donations for charities.

Here's how it works:

Every user starts with 50 free Twollars, which can be tweeted as virtual donations to charities or as gestures of appreciation to individuals (10 Twollars to @username for your help!). Businesses and individuals can buy additional Twollars from charities at the rate of 10 Twollars for $1 U.S.

The monetary donation goes directly into the charity's account, with no transaction fees deducted. To prevent individuals from profiting, Twollars can be purchased from organizations only.

Co-founder Eiso Kant, an 18-year-old advertising consultant and Internet entrepreneur from Spain, has run online businesses since he was 14.

Kant said Twollars (twollars.com) aims to capture the "positive energy" among Twitter users, who share tips and links through , and channel it toward raising awareness for a cause.

Kant and telcom analyst Mac Taylor, 53, launched Twollars in January as a marketing experiment, and it's grown quickly since. There are now 24 charity groups registered to receive Twollars, and French, Spanish and German versions of Twollars are planned.

Which raises the question: Does the global economy qualify as a charitable organization?

___

(c) 2009, Chicago Tribune.
Visit the Chicago Tribune on the Internet at www.chicagotribune.com/
Distributed by McClatchy-Tribune Information Services.

Explore further: Spain: Google News vanishes amid 'Google Tax' spat

add to favorites email to friend print save as pdf

Related Stories

Charities changed by technology

Aug 16, 2005

The Internet has transformed the way people shop for cars, pick the right stock options and choose the movie they want to see on the weekend -- and now it can be used to help them shop for the right charity. At the same time, ...

Recommended for you

Spain: Google News vanishes amid 'Google Tax' spat

Dec 16, 2014

Google on Tuesday followed through with a pledge to shut down Google News in Spain in reaction to a Spanish law requiring news publishers to receive payment for content even if they are willing to give it away.

Brazil: Google fined in Petrobras probe

Dec 15, 2014

A Brazilian court says it has fined Google around $200,000 for refusing to intercept emails needed in a corruption investigation at state-run oil company Petrobras.

Microsoft builds support over Ireland email case

Dec 15, 2014

Microsoft said Monday it had secured broad support from a coalition of influential technology and media firms as it seeks to challenge a US ruling ordering it to hand over emails stored on a server in Ireland.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.