UK-based Gifttagging just launched moments ago, and Florida-based MyPickList will be launching a private beta in about two weeks. These are similar products (product bookmarking), but with different functions. Gifttagging is focused on a wish list (think Amazon Wish List), whereas MyPickList is all about making cold, hard cash based on product recommendations.
Gifttagging.com, created by Jeremy Baines and his team, is a combination of Amazon Wish List and del.icio.us. Bookmark products using either their bookmarklet or firefox extension, tag them and place them either in your “gift list” or your “I have list”. Bonus feature: you can import your Amazon Wish List and start with that. Many of the features are similar to Kaboodle, although this is a highly specialized site focused just on gifts. I like it.
Jeff Eichel’s MyPickList is better understood in terms of Yahoo Shoposphere – It’s a service to help people make money by recommending products they like to others. I’ve posted screen shots of how the service will look here.
Collecting items will work very much life Gifttagging – via a bookmarking function. Your lists will be published on the mypicklist.com website and via RSS. But more interesting, MyPickList will provide tools to users to promote these lists on their own blogs and websites. Users can promote a widget containing the items they are promoting or create a custom banner ad with the items.
Any purchases of these items will generate money for the user. MyPickList is creating affiliate relationships with online merchants. Users promoting items will receive “approximately” 40% of affiliate revenue generated, and MyPickList keeps the rest. A nice feature is that users will not be required to sign up for affiliate relationships directly. MyPickList will take care of the accounting and issue the publisher a check.
For many bloggers, MyPickList will be a nice way to make money from recommending a wide variety of products. I can imagine, for instance, millions of passionate MySpace users putting up MyPickLists of their favorite music and movies. Pete Cashmore calls it “a pretty smart idea”. I agree. Except they need to push up the revenue share with users to more like 85%.