Will a Subscription Service Stabilize Twitter’s Business?
Twitter's (NYSE: TWTR) stock recently rose after the social networking company seemingly revealed the development of a new subscription platform in a job listing. The listing, which called for engineers to join its new "Gryphon" team of web engineers, stated the subscription platform would be "reused by other teams in the future" and be developed with its Twitter.com and Payments teams.
Twitter subsequently removed any mentions of "subscriptions" from the job posting, but many investors are likely wondering what Twitter is cooking up -- and if it would diversify its business away from its online ad revenue, which rose less than 1% annually to $682 million, or 84% of its top line, amid the COVID-19 crisis last quarter.
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