Twitter Acquires the Revue Newsletter Platform
The move is seen as Twitter's first efforts to bring long-form content and a subscription-based model to its platform.
On Tuesday, Twitter announced the acquisition of Revue, a newsletter platform targeting content writers and publishers. The company did not disclose any financial details of the deal.
Following the acquisition, Twitter will acquire the Revue team, although the brand will remain independent. The company said the deal would help speed up its work to help users stay current with their interests and give writers another way to monetize their audience.
Twitter, in a blog post, noted that several established writers and publishers leverage its platform.
"Our goal is to make it easy for them to connect with their subscribers, while also helping readers better discover writers and their content. We're imagining a lot of ways to do this, from allowing people to sign up for newsletters from their favourite follows on Twitter, to new settings for writers to host conversations with their subscribers. It will all work seamlessly within Twitter," the company further added.
Twitter also plans to introduce an incentive model through paid newsletters.
According to a report from Axios, Revue has a small 6-member team and has raised just $ 318,000 so far. The report notes that the acquisition also marks Twitter's first set of steps to create long-form content through its platform. It is also an effort to build a subscription-based revenue model.
As far as Revue's business model is concerned, the platform allows writers and editors to send newsletters to 50 people for free. The paid version allowed publishers to send up to 40,000 people. The forum took a 6% cut from paid newsletters. Twitter, however, will reduce the fee to 5%.