Buzzduit Update 3/10/10

Spring is coming, and so is the launch of buzzduit.com! In this article I wanted to update everyone on where we are with development and share with you all our plans for monetization.

As many of you know, in order for a social networking site to be viable in the long term, it must find a way to pay its bills. For Facebook, it is their pay-per-click ads. Myspace sells advertising space. Even Twitter (who, for the longest time survived on venture capitol) has begun working on new methods of monetization.

As we have already mentioned in the FAQs, we intend to monetize buzzduit.com from day one. The reason is that we want to cater to the users, and their (your) wants and needs, as opposed to the whims of venture capitalists. In our opinion, that is the only way to ensure that our members have a say in how the site works.

The challenge is to create and maintain a website that will remain free to our members, without annoying them with obtrusive advertisements, while still enabling us to pay the bills WITHOUT venture capitol money. Our answer is the “Vendor Spotlight” program. The Vendor Spotlight program is a way for businesses and website owners to bring targeted buyers to their websites in a natural and unobtrusive way, for a low monthly fee. Here is how it works:
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