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SocialToo founder Jesse Stay has posted on the company blog that beginning May 11, there will be a premium paid upgrade option available at a one-time fee of $20. SocialToo describes their service as, “…can help you be a social networking power user. Keep your follower lists in sync across networks, and get daily updates.” They can also send out surveys to your followers. SocialToo advisor Louis Gray has a good overview of the service.
Jesse notes regarding the new pricing option, “As of today you can now pay a 1-time $20 fee which, when it goes into effect Monday, May 11, will put you on a dedicated server (or servers as we get more people paying for the service) that will enable us to run your account much more frequently and also auto-follow and re-cache much more frequently for your account, meaning a much more accurate and reliable service for you.”
My only concern with the $20 one-time fee is that he has lost nearly all chance to get more revenue from his power users. I assume many of the SocialToo power users will pay the $20 which will provide a quick stream of cash. I’d rather see him set the upgrade as a yearly fee – this way in a year Jesse can bring in new features and grab another set of funds. At this point his only chance to gain more revenue from those newly-paying users would be to offer more services and hope that they will upgrade again.
Jesse also notes that most of the SocialToo offering will continue to be free for all users.