- Twitter Inc (NYSE: TWTR) purchased a subscription service for $ 5 per monthScroll, which removes ads from participating news sites. Financial terms of the deal were not disclosed.
- Scroll uses third party cookies or browser extensions to prevent ads from being displayed on websites.
- Scroll will not entertain new registrations.
- Twitter is planning a new subscription plan that will include Scroll, the recently acquired Revue newsletter service, and other proprietary Twitter services. Revue allows users to create and sell their newsletters for 5% of subscription income.
- Twitter plans to distribute core elements of Nuzzel’s scrolling service directly to Twitter. Nuzzel was currently ending.
- The Verge also interprets this move as a possible competition with Apple Inc. (NASDAQ: AAPL) Apple News.
- All 13 Scroll employees, including CEO Tony Hale, will join Twitter, according to a Vox report.
- As of March 31, 2021, Twitter had $ 4.2 billion in cash and cash equivalents.
- Price action: TWTR shares fell 1.65% to $ 53.68 on the last check on Tuesday.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.