Ad.ly, a one-month-old ad network that matches popular Tweeters with advertisers, has raised $500,000 in seed funding from VC firm GRP Partners. Twitter users who sign up agree to send one Tweet from an advertiser every other day for seven days. They can set the price for the sponsored message and also vet it before it runs. A number of celebrity Tweeters, including Dr. Drew and Kim Kardashian, use the ad network, often to raise money for charity.
Mark Suster, a partner at GRP, wrote about the funding on his blog earlier this week (via TechCrunch); Suster tells socalTECH that so far the startup has “performed very well.” That could be because Twitter users are more likely to engage with brands than users of other social network users, according to one recent study. Other companies, of course, including Sponsored Tweets and even Twitter itself are not oblivious to the opportunity. Despite its seeming non-chalance with making money, Twitter recently changed its terms of service so that it could eventually introduce ads to the site in some way.