Hubbard’s new job is to turn your Twitter stream into a virtual shopping mall, and bring the microblogging service a new revenue stream in the process as it prepares for a rumored IPO in 2014. In more detail, Hubbard’s job will be to discover and partner with both merchants and payment services companies interested in selling merchandise on Twitter, presumably in exchange for a percentage of transactions made on its platform.
Twitter recently announced it has been working with the firm Datalogix to obtain quantitative data on how effective a brand’s tweets are at driving in-store purchases in real life.
Twitter’s own foray into commerce could prove to be competition for services like Chirpify, which currently operates an in-stream payments service that lets brands and musicians sell to consumers on Twitter, Instagram, and Facebook.
In June, Chirpify CEO Chris Teso told Fast Company:
“Advertising happens all over the place, in print, TV, social media. But no one’s really figured out a way to make that convert instantly.”
Twitter could be an ideal platform for advertisers looking to capitalize on those instant conversions.