Betaworks, a New York hybrid venture capital firm and technology incubator, helps entrepreneurs fine-tune and expand their companies. According to a profile story in The New York Times, the company guides entrepreneurs to "lucrative sales" and has "helped others raise cash from notable New York and Silicon Valley investment firms." The company was founded by John Borthwick and Andrew Weissman, who originally worked at AOL.
Betaworks says its goal is "to create a network of companies with lots of connections between them that increases the likelihood of success between all of them." Some Betaworks companies include Tweetdeck, a tweet organizer, Bit.ly, a URL shortener popular with Twitter users, Chartbeat, a real-time Web analytics service and Summarize, a search start-up Twitter bought in July 2008.