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Will It Work? Told Who? ToldYa.

|Includes:AMZN, eBay Inc. (EBAY)

Friendster, Myspace, Facebook and now Twitter. Every day, we are exposed to new widgets and apps that clutter our online profile. Create one that is a necessity, you might become the next Mark Zuckerberg. Earlier this week, we were introduced to the newest Web 2.0 child: ToldYa. They have created a way for items to be sold through the same channel where we communicate in. How? A portable, embeddable online store that allows friends to securely buy and sell on social networks, blogs and sites with ease. ToldYa uses a web-based software platform to create, host and manage Portable Stores which are placed in user’s profiles and blogs. Sites such as Wigix have already taken advantage of the social networking going on everyday by allowing their users to publish their recent activities to their Facebook and Twitter accounts. Is ToldYa going the right direction?

Let’s take a step back and see how this product is actually used. Friend A posts something for sale through ToldYa’s widget and it appears on his Facebook profile. Friend B wakes up and checks his Facebook, work email, personal email and then cell phone, in that order. Friend B sees in his Newsfeed that Friend A is now selling his iPod and is interested in purchasing it. Friend B clicks Buy and goes through the checkout process and schedules a pick up and will pay in cash when he picks up the iPod. The only advantage of this process compared to Wigix’s social publishing is that the actual transaction can take place on Facebook. Other than that, both provide the same functionality. So the bigger picture question is: Is this a widget powerhouses such as Amazon and eBayshould be looking into and building? 

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Stocks: EBAY, AMZN