Tweets have become a viable business model for many startups. Tweetmeme, provider of retweeting promotional plugin would soon be facing competition from a new entrant-retweet. Earlier Techcrunch announced the launching of retweet and also the ongoing tussle panning out between the two services due to clash in service names.
The retweet service looks similar to tweetmeme at first glance. The major addition has been the manual submission of link to the retweet site which is absent in Tweetmeme. Even the plugin button looks quite alike tweetmeme style.
Retweet Vs Tweetmeme

Retweet although being similar to Tweetmeme has a major disadvantage as it transfer its domain link in retweets. Tweetmeme whereas retweets through RT at their own profile. The buttons are similar but retweet lacks few plugin options like button for rss,e-mail in comparison to Tweetmeme as the service has just started.
Retweeting has been turning into an indispensible service as Publishers use it on a large scale to convey their message via twitter channel. The brewing competition for popular services are widely known as even Twitterfeed has started to taste flake from other services.
Tweetmeme’s Answer to retweet:Launches Comment re-tweeting options
Tweetmeme also seems to be on service addition path as it has announced a feature introduction(currently in testing) that would allow re-tweeting of blog comments from tweetmeme’s story page. The service would thus allow Reply mechanism for comments to be passed on to blogs.
The retweeting of comments would be done through non-editable submission to Twitter via Api. The service would come as a savior for highly famous blogs currently getting tons of comments as to filter out the best comments by way of retweeting. This feature would in initial be available only on story page on Tweetmeme.Tweetmeme currently garners 11.8 Mn unique visitors a month according to reflecting the growing dominance of retweeting services.
According to Tweetmeme,”Many people have said that the comments left on blogs are often better than the blog post itself, so when we started looking at commenting on TweetMeme our primary goal was to allow good quality comments to be retweeted.”

This type of comment filtering and rating is attaining high popularity as the need to create and promote good quality conversation arises. The rating feature are currently provided by comment management companies like disqus and intensedebate. Tweetmeme will thus require a way to get retweeting buttons embedded to on-site comments rather than just on tweetmeme’s page to attract more foothold in retweeting arena.

Manual link submission is available in Tweetmeme: http://tweetmeme.com/update/submit
@Stuart
Thanks for pointing that out.