Sydney Startup Creates Platform to Monetize Web 2.0 in One Weekend

uTag. Paying web 2.0's bills monthly.

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A small group of Sydney developers have launched a service enabling the, so far revenue deficient, web 2.0 industry to monetize their services.

uTag (http://ut.ag/), launched this weekend as the result of a 48hr startup camp, is a turnkey system that allows web 2.0 sites and individuals to generate revenue and retain attention from every single outbound link.

Web links are the life blood of the post web 2.0 webscape. That is to say that links have immense value, and until today there was no ubiquitous way to realize that value. uTag is the solution to this. Rather than being punished for linking another site, by handing over the user's attention, tagging links with uTag captures that value in real money without any cost to the linker or linkee. uTag provides a true reflection of the value created by linking to another site.

uTag was created by a group of five Sydney entrepreneurs during, amazingly, a 48hr entrepreneur 'exercise' event call Startup Camp. The team was one of three working and coding tyrelessly with little sleep for the duration of the weekend event in a borrowed board room overlooking Sydney Harbour.

uTag has two implementation methods. For websites and platforms, site-wide implementation takes less than 2 minutes, costs nothing and requires no commitment. There is also an API for developers. The second implementation method is tag a single url for individuals to use in twitter posts, blog and forum comments and when the java script method is not an option.

The business proposition is as simple as implementation; there are no upfront costs and the link creator gets the majority of the revenue generated by the link. Additionally, once a url is tagged with uTag, all revenue generated by the link is attributed to the original tagger forever. There's no time or usage limit.

One of the founders, Nick Holmes a Court explains how uTag helps independent bloggers and twitter users. 'If you have worked hard to build a following online and have taken the time to filter the noise for your readers, why shouldn't you be rewarded?'
There's already loads of content on the internet. Content is not king. Context is. That's who we're trying to reward - the context providers. co-founder David Vandenberg.
The system works by inserting a small banner ad above the content that is being linked to. The full content of the linked-to site is still shown and the ad can be closed, leaving the site as it would originally have been presented. The uTag team considered this closing of ads to be a critical component of the service;
One of our main aims is to reward those people who have gone to the effort of filtering information for their followers in a respectful way. That includes ensuring we don't inconvenience the people following a link. co-founder Hugo Sharp
The uTag team believes there is massive potential for the service;
On micro-blogging site Twitter, there are already 2 Billion abbreviated links clicked on per month. In addition to this there are over 120 Million blogs on the Internet that finally have a way to be rewarded for driving traffic across sites. co-founder Kim Heras.
Another of the 5 founders, Matt Fisher highlights the results of preliminary market research;
We sent some information to a few key people in the areas we're targeting to get their feedback and one word was consistently heard... finally!
It's only early days for the service but already results have been excellent with revenue being generated for uTag users within the first few hours of launching.

This could be a pivotal moment for the web, where for the first time the very nature of the web 2.0 world - linked content - is the basis of how people generate revenue.

uTag. Paying web 2.0's bills monthly.
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