51.com Open Platform to Allow Payments
Sina Tech, 8/25/08
A senior PR executive for Chinese social networking site 51.com has revealed that the site's open platform will allow third-party cooperative partners to directly charge users for fees, and that in the future the company plans to help "preferred partners" with financing. 51.com will provide a payment system for third-party developers for its platform to allow them to charge fees in "51-coins." After taking a commission for payment processing fees, 51.com will share the money with developers; revenue sharing details have yet to be determined, but it is rumored that it will likely be a 50-50 split.
In the future, 51.com also plans to help third-party developers manage their servers in order to keep servers from being overloaded with high traffic volume generated by the system.
Editor's Note: Last week it was revealed that 51.com would allow third-party developers to keep all advertising revenues earned through placing advertising on their applications. "See 51.com Launches Open Platform", MD 8/22/08 issue, for more information.
Keywords: revenue share strategy virtual currency e-payment 51-coins 51.com financing Internet SNS Web 2.0
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