According to reports, popular microblogging site Twitter is working out partnerships with advertisers, in an attempt to offer its users exclusive deals on products and events – with the launch of its new service ‘@earlybird.’

As per the details forwarded by Twitter, @earlybird is an official Twitter account – which so far has 1,000 followers – on which the company intends feeding bargain deals available at both online and offline retailers, along with “sneak peeks and events.” The deals entered by the company can be seen by users, who follow the account, just like the way they see other tweets in their stream.

The availability and pricing of the deals advertised via @earlybird will essentially be determined by the advertisers who distribute these deals. Users following the @earlybird service can also spread the word around about the deals by retweeting them to others.

Meanwhile, going by the somewhat vague description of the service on the @earlybird explanation page, the companies placing the deals will either pay Twitter directly for the placing the deals on the @earlybird account, or will give Twitter some kind of a reward payment after the materialization of ant transaction via the account.

In case Twitter is able to make a success out of the @earlybird venture, it is quite likely that the company will expand the service to other areas, including like deals for books, movies, music, and TV shows!