Some of the best-known names in the London dotcom world are joining forces to cash in on the rise and popularity of Twitter.

Peter Read, the founder of the Twitter Partners Agency has been an angel investor and adviser to a range of digital-media start-ups such as Skype and Babelgum.

The agency said that it will help brands, media companies and celebrities to monitor and market themselves on the network.

According to the Financial Times, Reed has brought together a “brains trust” of advisers to Twitter Partners, including the founders of Lastminute.com, a partner at Index Ventures, the London venture capitalists; and the former European vice-president at Yahoo.

Other advisers include broadcaster BSkyB, music site Last.fm and advertising agencies Aegis.

Twitter is a free site to join and doesn’t currently carry any advertising, although co-founder Biz Stone has said that it could charge companies for extra features and support.

Twitter has just 30 employees, mainly technical staff, providing an opportunity for it to work with partners on commercialisation.

Read told the newspaper that Twitter Partners, which will be launched this week, will provide consulting, software tools and services to prospective clients, including Virgin Media, Universal Pictures and Bananaz.

However, Read confessed that like Twitter itself, his agency is still figuring out how to make money from the service.