Twitter has unveiled its long-awaited monetisation plans. Through a programme called Promoted Tweets, the company will allow businesses to bid on keywords, similar to Google’s highly successful AdWords system.

Twitter gave details to the New York Times and AdAge, which posted their stories late on Monday night San Francisco time.

According to those reports, the system will allow advertisers to bid on keywords on a CPM basis. When a user searches for a term on, one ad will show up at the top of the stream and be identified as a “promoted” tweet. Initial advertisers include Starbucks, Virgin America and Best Buy. Read more