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Twitter-clone App.net raises required $700K for start-up in crowdfunding drive

document Crowdfunding
Summary
When Dalton Caldwell created App.net and religiously modeled it after popular social media networking site Twitter, he envisioned it made for “users and developers” and not for advertisers. It seems his vision is a step closer to becoming reality because Caldwell raised over $700,000 (only $500,000 was needed) in funding for App.net through crowd-funding. More than ten thousand sponsors donated money to App.net. Sponsors could choose to donate $50 for App.net’s annual membership or $1,000 for developer tools and phone support.
Description
App.net is being described as a Twitter clone, sans the advertisement. On App.net, Caldwell states:

“App.net is a different kind of social platform. We’re building a real-time social service where users and developers come first, not advertisers. Our team has spent the last 9 years building social services, developer platforms, mobile applications and more. We believe that advertising-supported social services are so consistently and inextricably at odds with the interests of users and developers that something must be done.”

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