Twitter video hosting service TwitVid has launched standalone video advertising network called SocialAds. Its goal is to help businesses connect with customers by collecting followers and retweets for their advertising campaigns. The company is positioning it as a departure from the traditional pre-roll ads that dominate video advertising now, offering access to social media accounts that are of interest to viewers. Advertisers benefit, according to Mo Al Adham, co-founder of TwitVid, because they are exposed to and gain engaged customers.

SocialAds' prices will be based on a price-per-action model, where advertisers pay a set amount per follow or retweet and will not be charged for impressions that do not result in any action. (via InformationWeek). It said that bidding will begin at $1 per follower and 75 cents per retweet; higher bids receive better placement on the advertising units. Content on which advertisers can bid include videos from the celebrities, musical artists, and professional athletes - such as Britney Spears, Justin Bieber, the Los Angeles Lakers, the NBA, and PGA - that picked TwitVid as their preferred video-tweeting service.