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Things move fast at Techstars. One month into the program’s first summer in Cambridge, one of the nine companies participating in the East Coast branch of the high-tech incubator has secured a seed round of funding.
Oneforty Inc. has secured about $250,000 in funding from a list of seven angel investors, founder Laura Fitton confirmed today. Oneforty is developing an application designed to integrate with Twitter Inc.’s online microblogging service, she said.
The story was first reported this afternoon by Boston Globe contributor Scott Kirsner on his blog, Innovation Economy.
Fitton, a social media consultant better known by her Twitter handle, @pistachio, declined to discuss what exactly the company is working on, except to call it an outgrowth from her consulting practice and a book she recently published, titled “Twitter for Dummies.”
“People don’t understand Twitter when they first see it,” she said. “There’s deep fall-off.”
That fall-off has been well documented by recent studies –- including one by Boston-based search engine marketing firm HubSpot Inc. -- which found more than half of Twitter’s registered users have never posted a single ‘tweet’ via the social microblogging service.
Fitton declined to comment on Kirsner’s report, which cited investors saying the company is developing an “app store for Twitter.” The directory website crunchbase.com lists seven angel investors: Côme Laguë, Maurice Werdegar, Don Hutchison, John Landry, Bob Zipp, Jeff Bennett and Chris Bucchere.
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