Another day, another social network: Bill Gross chimes in

How many social networks does the world need?

Bill Gross, the man credited with pioneering the search advertising business, believes there’s room for one more.

On Monday, Gross’ Ubermedia unveiled, a social media “platform organized around interests.”

The idea is to make it easier for people to cull the sea of social media content and home in on specific topics of interest, whether it’s photography, Indian cuisine or neighborhood-specific news.

Anyone can create a group around any topic, and Chime says its algorithms can recommend groups to join and people to follow based on personal interests.  Users can also endorse other people’s Chime posts by clicking on them, helping the more popular items gain prominence on the service.

In addition to what it contends is improved relevance of information on the site, Chime also says it has novel ways for users to profit from their social activities. Starting next year, any person who creates a topic group on Chime will be able to offer online advertising to go along with it, the company says.

In Tweets, paid search pioneer Bill Gross sees another goldmine

Like an ancient riddle, the secret to making money from Internet social media has obsessed, and frustrated, Web entrepreneurs for years.

But Bill Gross is not your ordinary entrepreneur.

As the founder of in the late 1990s, Gross created the first successful implementation of  paid search, the concept that today underlies Google’s roughly $24 billion-a-year cash machine.

His latest project, TweetUp, aims to do something similar for Twitter messages by ranking Tweets by relevance and by allowing Twitter users to bid money for their messages to rise to the top. (Under the bidding system, a person selects keywords and bids a penny, a quarter, or more, for their Tweets to appear on searches for those keywords).