There’s a new entrepreneur in town by the name of Ryan Knowles and he comes equipped with PlugIM, a kickass web application that has grown exponentially within the time span of two months. If you have never heard of PlugIM, now is the time to become further acquainted.

One of the biggest selling point of PlugIM is its AdSense Revenue-Sharing program. I am a strong believer in being rewarded for efforts which is one thing that Digg lacks. The only incentive that top Digg users have is to one day make it to the homepage, but do not benefit financially. In the end, Kevin Rose is the one collecting the checks for your work, but Ryan Knowles wants you to benefit as well.

The way it works is that you input your Google AdSense publisher ID within the PlugIM system and for every story you submit, there is a 50-50 chances that ads will appear that connect to your publisher ID account. If ads are clicked on with your publisher ID, you get 100% of the profits. Now that is incentive!

This is what a typical post on PlugIM looks like as of right now:

If you like a story you can add a Plug. You can also add these stories to Digg, Reddit, Del.icio.us, and other social bookmarking websites. These stories can also be tagged and added to your favorites. Every post can also be categorized by All Stories, Business, Development, Marketing, Products, Search Engines.

Rarely do entrepreneurs share their secrets about how they create their website, but Ryan has done so in his blog. Ryan revealed that he used Pligg beta website to create a Digg-similar website content management system. Pligg is used by VH1 and VideoSift. PlugIM was mentioned in Digg comments, the Wired magazine blog, Micro Persuasion,

As far as growth is concerned, let’s just say since PlugIM has opened its doors on September 1, 2006, they had dived right into the top 100,000 on Alexa and secured the 69,978 spot within these past 2 months. PlugIM’s Today rankings on Alexa is in the 22,000s. I am definetely impressed. Hats off to you, Knowles. You have just replaced Digg as one of my homepages.