So far, Twitter has not produced any strategy for making money. However, they do have a wine strategy.
In Twitter’s blog, the company’s co-founder Biz Stone says it’s all about engagement. Stone writes: “For Twitter to be at its peak in utility, people who would have never had access to the world’s information need to be able to not only receive it but engage with it, too. Room to Read, a San Francisco based non-profit, will help us make that happen by bringing libraries and literacy to the world’s poorest regions. Together we’ll be making some awesome wine over the course of a year to benefit @roomtoread, and with each case sold they’ll be able to supply about 60 local language children’s books to educate the 300 million kids around the world who can’t read.”
The Pinot Noir and Chardonnay, which you can purchase here, costs $20. It’s a pre-order, the stuff won’t be bottled until 2010. But as a strategy, it makes sense by building connections with Twitter followers.
So all for a good cause, teaching kids to read. It’s an interesting and unusual piece of corporate social responsibility. But as Biz Stone suggests, it’s perfectly in keeping with Twitter’s corporate personality. “As a company that’s only one percent into its journey, we’re always thinking about our long term impact on the world … The efforts of Room to Read will benefit literacy, and in doing so they’ll allow Twitter to grow. Because if you can’t read you can’t Tweet!”
So it’s a corporate social responsibility model that fits in nicely with the Twitter strategy. And who knows, the wine might even be good!