- Twitter Inc (NYSE: TWTR) acquired a $5-a-month subscription service, Scroll, that removes ads from participating news sites. The financial terms of the transaction were not disclosed.
- The Scroll service uses third-party cookies or browser extensions to prevent websites from serving ads.
- Scroll will not entertain any new signups.
- Twitter is planning a new subscription plan to include Scroll, the recently acquired Revue newsletter service, and other homegrown Twitter services. Revue lets users create and sell their newsletters for a 5% revenue share generated from the subscriptions.
- Twitter plans to extend the core elements of Scroll service Nuzzel directly to Twitter. Nuzzel was winding down at present.
- The Verge also interprets the move as a possible competition with Apple Inc’s (NASDAQ: AAPL) Apple News.
- All 13 of Scroll’s employees, including CEO Tony Haile, will join Twitter, as per the Vox report.
- Twitter held $4.2 billion in cash and equivalents as of Mar. 31, 2021.
- Price action: TWTR shares traded lower by 1.65% at $53.68 on the last check Tuesday.
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