Can I create a commercial site similar to Twitter to allow chat, sharing of news, tips, restricted videos, photos, etc among a restricted class of users?

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His Slave and Messenger.

The creation of such websites is subject to the general Islamic criteria. If such a website does not contain any religious prohibitions nor does it help do them, there is no harm in creating it. But if it has such religious violations as chatting and exchange of messages between the two sexes, publishing impermissible photos like those of women, etc, then, it is impermissible to create such a website.

For further information, see Fataawa 84932 and 92357.

However, there is in the lawful things what makes one in no need of the unlawful ones. Indeed, there are many ways to get lawful earnings which a Muslim could search for and work in. Allaah The Almighty Said (what means): {And whoever fears Allaah - He will make for him a way out And will provide for him from where he does not expect.}[Quran 65:2-3]

Therefore, the questioner has to know that it is very difficult, if not impossible, to adjust such websites according to Islamic criteria, even if one does his best to do so. No doubt, it is better to be safe than sorry.

Allaah Knows best.