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Charging money for your service? Web bookmarking for introverts site Pinboard made $11k yesterday

Off of the coattails of the Delicious shutdown scare, bookmarking service Pinboard, who had the idea of adding a one-time charge to their bookmarking service, has gained a good amount of users—paying users, at that. The payment model, $0.001 * number of users, is apparently del.icio.us founder Joshua Schachter’s idea. I worked out how much they made:

Bing’s web cache shows the price being at (least, since we don’t know when Bing took the cache) 6.87 yesterday (http://cl.ly/0A1N0K0C2Q2W2H0U3h43) and now it is at 8.35. That is a difference of 1.48, indicating a gain of (at least) 1,480 customers. Every user x signing up past the point that the cache was taken generates (6.87 + 0.001x). Thanks to Gauss, we can find the total revenue using (6.87+8.35)(1480/2), and we can calculate roughly that Pinboard made something on the order of $11k yesterday, and probably a bit more since they probably round up instead of charging tenths of cents. Sweet! (comment link) (calc)

$11k for having a good service and charging for it. Web startups, take note. Succinctly summed up with Pinboard’s tweet to Xmarks, a bookmark sync service with 2 million users that was about to shut down:

@xmarks the model that has worked well for us is ‘charge people money for a useful product or service’