Shares of Twitter, Inc. (TWTR) are climbing more than 5% Tuesday morning after the social media company said it acquired newsletter publishing company Revue.
The Dutch startup Revue allows writers to publish and monetize their editorial newsletters.
Twitter is lowering Revue's paid newsletter fee to 5% and also making Pro features free for all accounts. Revue's service will continue as "standalone service" within Twitter, the company said.
"For those looking to generate revenue, we're creating a durable incentive model through paid newsletters. Bringing Revue to Twitter will supercharge this offering, helping writers grow their paid subscribers while also incentivizing them to produce engaging and relevant content that drives conversations on Twitter," the company said in a blog post.
TWTR, currently at $50.62, has been trading in the range of $20-$56.11 in the last one year.
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