Liz Gannes

Recent Posts by Liz Gannes

MyLikes CEO Bindu Reddy on How Twitter is the New TV (Video)

MyLikes this week announced it had raised $5.55 million in a competitive Series A funding led by Khosla Ventures, named Gmail and FriendFeed creator Paul Buchheit to its board, and released new mobile apps and widgets.

We had intended to post on the news before an embargo breaker fudged up the plan, but since NetworkEffect recorded a video with CEO Bindu Reddy, we figured you might want to see her explain what the company actually does.

MyLikes, which operates primarily on Twitter, connects brands and tweeters for paid product endorsements. It is similar to and to some extent Klout.

The company takes pride in its founders, employees and funders being primarily composed of former Googlers.

Like many social media businesses, MyLikes has landed on the combination of brand advertising with cost-per-click payments. Reddy calls Twitter a television replacement, and her clients include familiar TV advertisers like Coca-Cola, Universal Pictures, Axe Hair and Microsoft.

Reddy works with tweeters including a fake “Family Guy” account and the reality stars Khloe Kardashian and Jon Gosselin. What her publishers have in common is an acute awareness of the direct correlation between attracting an audience and making money. They’re not quitting their day jobs yet, but some might earn enough to hire a part-time tweeting assistant.

Twitter itself does not have a celebrity endorsement product, and according to MediaMemo’s Peter Kafka is playing down its “Promoted Tweets” product where brands can pay to feature their own tweeting.

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik