- Twitter’s job listing hinted that it could be working on a subscription platform.
- Twitter later altered the description and removed the mention of a subscription platform.
- After the job listing, Twitter's shares closed up more than 7 per cent.
Twitter's job listing had initially stated that it could be working on a subscription platform codenamed Gryphon. The job listing stated that Gryphon was a team of web engineers who is collaborating with the Payments team and Twitter team. The company stated that it was looking for a full-stack engineer to lead the payment and subscription team.
The job listing stated that Twitter is working on the potential subscription platform for the first time but did not clarify how the social media platform would go about it, as reported first by The Verge.
New subscriptions could mean exclusive content for Twitter users who are ready to pay a little extra.
There was, however, an update on the listing which states that Twitter is looking for Android engineers to work on components that allow for experimentation "to deliver the best experience possible to all of our users. Through the decisions you make and the code you craft, all Twitter users will be more conscious about their thoughts and feelings as well as the world around them."
A paid subscription revenue could help Twitter find a source of revenue beyond advertising and data licensing. After the job listing, Twitter's shares closed up more than 7 per cent on Wednesday.
Twitter has also been subjected to the ad boycott that tech giants are facing for taking no action on hate speech. Consumer goods company Unilever behind brands such as Dove and Lipton said it would suspend ad spending on Twitter, Facebook, and Instagram.
Twitter swung to an $8 million (roughly Rs. 59 crores) loss in the first quarter of this year as the global pandemic hit, even as revenues edged up three percent to $808 million (roughly Rs. 6,059 crores) and its user base increased 24 percent, a report by AFP stated.
As per The Verge, Twitter has mulled over bringing paid subscriptions to the platform. Back in 2017, Twitter carried out surveys and analysed user-behavior for paid subscriptions.
The survey talked about a "premium version of Twitter" and what it could look like. The report stated that it would bring with it new analytics, alerts about breaking news, and information about what an account's followers are tweeting about.
The advancements were aimed at professionals and organisations and would remain within TweetDeck with the core service remaining free.